Snakk Media posts bumper revenue

Derek Handley's Snakk Media, which helps firms get their advertising in front of smartphone and tablet computer users, has recorded revenue of $3.02 million for the six months to September 30, up 147 per cent on the same period the year before.

While revenue jumped, the company's loss for the half year also increased to $837,734, up 16.5 per cent from September 2012.

The company, which listed on the NZAX in March, said over the six month period it had generated 83 per cent of last year's total revenues.

First quarter revenue from April to July was $1.2 million - a jump of 116 from the same quarter in 2012.

Revenue for the second quarter was $1.8 million, up 183 per cent on corresponding three months last year.

"We are starting to see an end to the seasonality of smartphone and tablet advertising. In previous years the first two quarters were far quieter, with most brands spending their mobile ad dollars during the lead-up to Christmas and the period after," said Snakk chief executive Mark Ryan.

"Now it's an 'always on' media activity. The growth seen to 30 September 2013 has been extraordinary, with Snakk delivering results that exceed industry growth rates predicted for the mobile media market in Australia and New Zealand,"

Snakk generates revenue when its ads reach audiences on smartphones or tablets across its network of apps, websites or games.

The company was founded by Handley, a Kiwi tech entrepreneur who is also Snakk's chairman.