Data is everything. Today, consumer data rules the roost, driving business decisions and platform updates. And how do you get this data? One way is through the Pureprofile platform (ASX: PPL).

Pureprofile is a data, insights and advertising company focusing on getting consumer surveys and helping ad agencies. In Q1 FY24, the Company saw its quarterly EBITDA rise by 36% on Q1 FY23 to $1.5 million, benefiting from strong revenue growth, improved gross margins and continued disciplined management of expenses (like reviewing employee incentives). Its platform revenue grew 118%, helped by increased panellists recruited from Audience Builder partnerships (like APAC-based voucher company ShopBack). Consequently, in Q1 FY24, Pureprofile saw its revenue rise by 16% to $12.3 million.

Pureprofile CEO, Martin Filz, said, “I am immensely proud of our Pureprofile people. They are 100% focused on client needs and deliver on their commitments consistently. The business is also continually developing and improving, incorporating the latest developments and industry trends into our processes. As a business, we pride ourselves on our performance and going above and beyond for our clients. We have a benchmark for excellence that positions us as the preferred choice for data & insights amongst a range of businesses, brands and industries.” 

The Company’s global revenue surged by 34%, outperforming the ANZ region’s modest 6% growth, mainly driven by progress in Singapore, India, and Europe. Project volumes increased by 12%, primarily due to more sample-only projects, and revenue from media agencies also soared by 143% thanks to heightened ad effectiveness projects in the quarter.

In the 12 months up to September 30, 2023, Pureprofile secured projects from 809 clients, up from 760 clients in the same period in 2022. This growth is attributed to increased collaboration with new research agencies, consultancies, and end brands over the past year.

As part of its cost management initiatives, for FY24, the Company plans to transition from offering short-term performance incentives (STIs) to Key Management Personnel and Executives in cash rather than equity-based rewards. This shift in the reward structure will impact the Company’s EBITDA.

Historically, on-target Key Management Personnel STI rewards have ranged from 100% to 120% of their base salary. However, for FY24, this will be reduced to 70% to 77% of their base salary. Based on the performance benchmarks of the STI Incentive plan and the Company’s financial performance to date, the provision for STI (including associated costs) is anticipated to be $1.05 million.

For FY24, Pureprofile has established dual objectives emphasising growth in terms of personnel and technology. Its international expansion, particularly in the UK and US, involves increasing marketing and commercial efforts. Simultaneously, the Company is developing and introducing new client-facing solutions to diversify its revenue streams; for instance, in keeping with the AI boom, it is integrating Generative AI into its products, services, and operations to drive both revenue and margin growth.