Amidst continued market instability, Vericast remained steadfast in its commitment to growth, transformation, and innovation throughout 2021, achieving several key milestones.
The company simplified its go-to-market approach, unifying its former independent lines of business under the single Vericast brand. Within this new operating structure, the company has a robust pipeline of innovative, insights-driven solutions aimed at helping organizations engage and activate their customers. This refined structure also paved the way to begin development of a new digital marketing platform and strengthen engagement among financial institution clients with the company’s full portfolio of media solutions.
For the full year, 2021 consolidated net revenues for Vericast decreased 2.0% and total adjusted EBITDA increased 6.2% compared to 2020. Full year net revenues for the Digital Marketing & Technology Solutions segment increased 7.3% and adjusted EBITDA increased 18.3%. Net revenues for the Print Payment & Engagement Solutions segment decreased 2.7%, while adjusted EBITDA increased 3.4%.
During the fourth quarter, Vericast continued to see positive revenue trends for a number of its newer solutions, including Connected TV and Influencer/Paid Social, a clear indication of the strength of the company’s digital and marketing technology solutions product roadmap.
Redefined and newly implemented sales and product strategies have already led to some 2022 client wins across Vericast’s solution portfolio in the restaurant, financial services, ecommerce, and retail verticals. The company’s outlook for 2022 includes a plan to invest and drive growth by:
- Bringing expanded media solutions to the financial services vertical
- Continuing to enhance its award-winning data and technology solutions to satisfy the shifting needs of clients in new and existing verticals
- Acquiring the talent and resources necessary to expand its digital capabilities to include digital coupons, DSP as a Service, and contextual targeting, which has gained early traction
- Focusing on the development of a digital marketing platform designed to help mid-market clients better manage their customer data and continuously improve multi-channel media programs
“I am pleased to see early indicators that our refined go-to-market strategy is opening up increased opportunities for cross-selling and diversification. Clients cite our data, intelligence, advanced targeting capabilities, and ability to deliver measurable results as success drivers,” said John O’Malley, Chairman & CEO, Vericast. “In line with our strategic plan, we are intensifying our investment in Vericast, taking critical steps to evolve our advertising and marketing technology business, further positioning us well for sustainable growth.”
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