Digital marketing company MaxPoint Interactive posted better-than-expected first quarter results and increased its guidance for the year.
The Morrisville company reported after the markets closed Monday that adjusted revenue totaled $19.4 million, up 15 percent from a year ago.
Adjusted net loss totaled $9.7 million, or $1.48 per share, compared to a loss of $7.5 million a year ago. Analysts polled by Bloomberg News had projected a loss of $1.51 per share.
“We are off to a very good start to the year and are executing well against our strategic initiatives,” CEO Joe Epperson told analysts during a conference call.
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The company upped its expectations for revenue for the full year to between $93 million and $97 million. It previously was projecting that revenue would range between $91 million and $95 million.
MaxPoint’s software enables manufacturers and retailers to use targeted online advertising to generate sales in brick-and-mortar stores.
The company has created the digital equivalent of ZIP codes by dividing the nation into tens of thousands of neighborhoods, which it calls Digital Zips. Earlier this year it also expanded into France, Germany, Italy and Spain, while revenue from the United Kingdom rose 112 percent in the first quarter compared to a year ago.
Earlier Monday, MaxPoint shares closed at $8.10, up 16 cents. The company’s shares have risen 18 percent this year.