What it does
It taps into the US$160bn digital advertising industry, working in partnership with brands, media agencies and suppliers to reduce ad-wastage and improve the effectiveness of location-based advertising campaigns.
Its core product is Verify, the world's first independent location verification product, which detects location ad-fraud and shines a light on location data inaccuracy.
Among its clients are billboard advertiser JCDecaux, the world's largest outdoor ad company, and the7stars, the UK’s largest independent media agency, which serves huge brands such as Papa Johns and Nintendo.
How it's doing
Location Sciences Group PLC (LON:LSAI) reported higher revenues in the first six months of the year and lower losses as it worked to offset the impact of the coronavirus (COVID-19) pandemic on some of its business lines.
In a trading update covering the six months to June 30, 2020, the location data verification specialist said it expects to report revenues of around £650,000, 43% higher than the prior year, alongside an adjusted cash EBITDA loss of £680,000 compared to an £820,000 loss in 2019.
in September, LSAI announced the first customer for its Verify Audience platform.
InMarket, a US company specialising in consumer activity intelligence, will use the marketing tool to verify local audiences and campaigns across different media channels.
Verify allows brands, agencies and suppliers to validate the real-time locations of mobile devices as digital advertising campaigns are delivered.
What the boss says: Mark Slade, chief executive
"Location data used to build audiences in ad-tech can be extremely valuable, but it can be very difficult for buyers to differentiate the best from the worst data.
" It is clear that buyers are becoming more aware of the vast differences and nuances in location data, and we expect other agencies and suppliers to follow suit in the coming months,"
Latest Proactive research video
- Location Sciences says the digital advertising market place remains unregulated and unmonitored, with an estimated US$19bn wasted on ad-fraud
- Analysts say Verify is a unique solution in a mobile advertising market of more than US$145bn
- First US customer signed for Verfiy Audience platform
What the broker says: ShoreCap
Location Sciences' announcement of its first customer (InMarket) for its Verify Audience platform is an encouraging step, suggests broker Shore Capital.
The Verify Audience contract win could indicate that both brands and agencies are already becoming more engaged. added Shorecap.
"In this case, LSAI should have strong momentum as it enters its crucial Q4 trading period."