2Performant (BVB: 2P), a technology company and leader in the Romanian affiliate marketing market, posts a turnover of 8.4 million lei in the first quarter of 2022, up 53% compared to the same period last year. The registered loss’s net result was lower than the estimated one, 1 million lei against 1.7 million lei.
“After two years of the pandemic, in which 2Performant has grown steadily, we continue to adapt in real-time to changes in the social, economic, and political context. The results recorded in Q1 2022 show very good premises for achieving the growth we promised to our investors. Our unique global approach, based on the gamification of marketing, differentiates us and helps us grow beyond the market – our users compete with each other according to transparent criteria, based on real-life sales resulting from collaborations through 2Performant technology. This type of competitions attracts the new generation of marketing people adapted to the collaborative economy,” stated Dorin Boerescu, Chairman of the Board of Directors and CEO of 2Performant.
2Performant Network’s operating revenues increased by 56% in the first quarter of 2022 compared to Q1 2021, reaching 9.1 million lei. The increase was determined by a 53% increase in turnover, which reached 8.4 million lei. The income from tangible and intangible fixed assets production doubled, reaching 711k lei. This increase results from the development of the salaries of the development team and reflects the continuous investments in the 2Performant.com platform.
In terms of revenue by product type, affiliate marketing almost contributed entirely to this figure. The product increased by 52% to 8.3 million lei, amid a 36% increase in unique users of the platform. The influencer marketing product increased by 246% in Q1 2022 compared to Q1 2021, achieving revenues of 54k lei. Operating income (income minus commissions for the affiliates) increased by 38%, reaching 2.1 million lei in Q1 2022 compared to 1.5 million lei in Q1 2021.
“Currently, 2Performant has a compact organizational structure that gives us the flexibility and agility to act quickly. We gave up the 2 organizational units and revised our budget for the current year based on the new strategy. Therefore, this year we are proposing significantly better results than those mentioned in the listing memorandum – both in terms of turnover – an increase of 35% – and the company’s profitability a year earlier than we had planned at the end of 2020. This is due to both the good evolution of the company in the last year and the changes in the business environment that favor the development of the players in the New Economy,” added Dorin Boerescu.
2Peformant expects that with the new team structure to capture the market trends and user feedback on the European affiliate marketing market, which has exceeded 2 billion euros and is the main growth opportunity for the company in the coming years. The development potential is visible for the company also from the perspective of revenues. In the first quarter of this year, revenues from Romanian customers of 2Performant increased by 49%, while revenues from external customers increased by 78%.
This increase is driven by the investments and optimizations in the platform and in the internal processes carried out in 2021 and Q1 2022, which will continue in the next period. In addition, the new Big Bear award system of the 2Performant platform, on which the company focused in 2021 and will continue to develop this year, has already started to bring results and will contribute more and more to the financial results in the following years.