Israeli Digital Ad Firm Matomy Sees Revenue Increase

An increase in mobile activity and two acquisitions has boosted Israeli advertising firm Matomy Group’s revenue and adjusted net income by 14%.

Matomy Media Group CEO and cofounder Ofer Druker sits to have his portrait taken, in front of a brick wall.
Eyal Toueg

REUTERS - Israeli digital advertising firm Matomy Group said on Monday its revenue and adjusted net income both jumped 14 percent in 2015, boosted by an increase in mobile activity and two acquisitions.

Net income excluding one-time items rose to $8.2 million from $7.2 million, and revenue increased to $271 million from $237.4 million.

Matomy in February dual-listed on the Tel Aviv Stock Exchange in addition to London, looking to make its shares more accessible to Israeli investors.

The company acquired mobile advertising platform MobFox in late 2014 and video advertising platform Optimatic late in 2015.

"Consumers are increasingly connected through their mobile devices and video has become one of the most effective formats to deliver messages and build engagement," said Chief Executive Ofer Druker.

MobFox will drive future revenue growth with the aim of 50 percent of revenues being generated by mobile by the end of 2017, Druker said, adding that the company plans to continue to expand in Asia, opening offices in China and South Korea later this year.