Digital marketing company MaxPoint Interactive posted a wider-than-expected loss in the second quarter.
The Morrisville company also unveiled two partnerships – with Adobe and digital marketing company LiveRamp – that it said would broaden the universe of businesses customers that can take advantage of its technology.
“Both of these partnerships expand accessibility to MaxPoint’s data and intelligence by offering MaxPoint branded and customized audience data to their customers,” CEO Joe Epperson said during a conference call. “We are excited about these new partnerships and their potential.”
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. It also has been expanding in Europe.
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MaxPoint reported after the markets closed Wednesday that its adjusted net loss totaled $6.6 million, or 87 cents per share, versus a loss of $6.5 million, or 58 cents per share, a year ago. Analysts polled by Bloomberg News expected the loss to be six cents per share lower.
Adjusted revenue totaled $23.2 million, up 9 percent from a year ago. The company said that the number of its enterprise customers that spend more than $10,000 a year rose 27 percent from a year ago to 764.
Earlier Wednesday, MaxPoint shares closed at $10.76, down 19 cents. The company’s shares have risen 57 percent this year.