Video advertising group Blinkx came back from its August profit warning with a 37% rise in core profit revenues.
But the Cambridge University spin-off still reported losses of $6.84 million – it had been anticipated that losses could be as high as $7 million – and wrote off investment of $32 million in its flagship product.
“The steps we took over the past year, including key acquisitions and investments, have been critical to the Company’s transformation,” said CEO Brian Mukherjee. “Looking forward, we anticipate Core products to gain further traction, as we focus our efforts to return to profitability.”
Top line revenue fell by 14% to $91 million, while losses rocketed from $11.9 million in 2014 to $79.5 million.
Blinkx runs ad campaigns for Kellogg’s, Nature Valley, Warner Bros., Google, Nestle, Marriott, Ralph Lauren and Lufthansa; on platforms that include AOL, Nexage and OpenX.
