Shares in digital-marketing business Mobile Embrace Ltd (ASX: MBE) soared 25 per cent to 9.4 cents today, after it confirmed it expects to meet full year EBITDA guidance of $5.3 million on guidance for revenue around $52.1 million.
The news came as a relief to nervous investors spooked by the startup’s February 2017 downgrade to full year financial expectations in a move it blamed on “external factors” delaying its international direct carrier billing (DCB) rollout. In fact despite today’s strong share price rise the stock is down around 75 per cent over the past year.
The group has now put the marketing of its DCB operations on hold to focus on its “Performance Marketing” revenue-generating transactions. The group also boasted it retains strong cash reserves and is operating cash flow positive, with more news to be provided on its growing performance marketing operations when it hands down its profit report in late August.
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Motley Fool contributor Tom Richardson has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.