Vericast Reports Strong Third Quarter Results
SAN ANTONIO--(BUSINESS WIRE)--Nov 15, 2021--
Vericast is announcing highlights of its third quarter 2021 performance and its outlook for the year ahead. The company’s consolidated net revenues decreased 0.5% compared to 2020, while total adjusted EBITDA increased 10.2%.
Vericast continues to build momentum with recently introduced digital marketing and technology products such as ecommerce, add-to-cart and influencer marketing, all of which have shown solid performances this year. Clients across many industry verticals have seen tremendous success with the company’s Connected TV (CTV) solution which is on track to grow by more than 250% versus prior year. The company expects the solution, which helps brands connect with their target audiences through streaming services, increasingly will become a more vital part of marketers’ omnichannel strategies.
Vericast’s award-winning technology continues to benefit its print advertising products, as businesses still value print as a powerful channel for influencing consumer behavior. The company recently won the business of a major online retailer who cited Vericast’s print activation as its number one tactic for driving new customer acquisition, existing customer engagement, and overall time spent by visitors on its website.
The company continues to experience stability with its check products, re-signing a number of existing check clients while securing a few new wins. Additionally, the company realized 10% growth across its marketing solutions driven by financial institution adoption of solutions that help them acquire, retain, and build loyal customers while generating growth for their business. Card Services revenue is up approximately 15% from prior year fueled by card manufacturing, print on demand, instant issuance and dual interface migrations.
“I am excited by the progress we have made this year with new products, clients, and verticals and equally proud of the trusted partnerships we have maintained with our long-standing clients, many of whom are challenged to meet unpredictable consumer demands while reacting to various macroeconomic factors,” said John O’Malley, Chairman & CEO, Vericast. “As we head into 2022, I am confident that Vericast’s broad capabilities will provide clients with the solutions they need to achieve unparalleled reach and engagement with their customers in new and innovative ways.”
Looking ahead to the new year, Vericast expects its digital growth strategy will differentiate the company in the marketplace and further enhance the value it delivers to clients.
“We look forward to continuing to find ways to bring together and invest in our award-winning technology, data and services to fuel our growth while addressing immediate client and market needs,” added O’Malley. “I am inspired by the winning spirit and talent of the Vericast team who is driven to positively impact our business, our clients’ growth and that of the overall economy in 2022.”
Vericast is reimagining marketing solutions one business-to-human connection at a time. By influencing how over 120 million households eat, shop, buy, save and borrow, Vericast fuels commerce, drives economic growth and directly accelerates revenue potential for over 70,000 brands and businesses. While its award-winning portfolio of products, technology and solutions — including Illumis™, Household Connect™,Valassis Consumer Graph™ and Harland Clarke ChecksCX™ — are a piece of the Vericast story, its people are the true differentiators; trailblazers in data intelligence, marketing services, transaction solutions, campaign management and media delivery.
View source version on businesswire.com:https://www.businesswire.com/news/home/20211115006297/en/
CONTACT: Media Contact
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY OTHER RETAIL MARKETING ADVERTISING COMMUNICATIONS SOFTWARE RETAIL DATA MANAGEMENT SEARCH ENGINE MARKETING
Copyright Business Wire 2021.
PUB: 11/15/2021 04:58 PM/DISC: 11/15/2021 04:58 PM