iClick Interactive Asia Group (NASDAQ:ICLK), a company that provides online marketing platforms to connect worldwide marketers to audiences in China, announced unaudited fourth quarter and year-end results. Over the fiscal year, net revenues decreased from US$39.8 million to US$39.5 million, which the company in part attributed to a depreciation of the Renminbi against the dollar by 5 percent.
As quoted in the press release:
“2018 was a very productive year for iClick, as we continued to achieve record high results in various key financial and operating metrics, including gross billing, net revenues, gross profit, and adjusted EBITDA. We also reported historically low adjusted net loss for the year. Additionally, we strengthened our business through organic growth and acquisitions, and continued the transformation of our Company to a CRM & Marketing Cloud Platform,” said Sammy Hsieh, Chief Executive Officer and Co-Founder of iClick. “The strategic investments we are making today help position iClick for faster and more efficient execution of our business strategy, while providing global brands with more robust offerings to help them make better-informed marketing decisions.
“We believe our market-leading Chinese consumer dataset, experience in serving enterprise-level clients and strong data analytics capability, combined with plans to strengthen our online marketing position, build new revenue streams, increase cash flow and expand margins, will continue to drive solid growth for years to come,” Hsieh said.