LONDON (ShareCast) - (Sharecast News) - Advertising technology company Tremor International reported a record financial performance for 2021 on Thursday, driven by strong adoption of its platform, increased CTV spend, and "robust traction" within self-service and tech-enabled programmatic activity.

The AIM-traded firm said its adjusted EBITDA increased 38% in the fourth quarter to $54.0m, and by 166% to $161.2m for the year as a whole.

It said it had "one of the highest" margin and operational profitability financial structures in the ad-tech sector, resulting in a 53% adjusted EBITDA margin in the fourth quarter on a reported revenue basis.

Its cash position at year-end on 31 December saw it with $367.7m in net cash.

"We continue to drive strong growth and market adoption within our end-to-end platform and delivered record revenue and adjusted EBITDA for both the fourth quarter and full year 2021," said chief executive officer Ofer Druker.

"Our strategy to provide the market with a robust data driven end-to-end tech platform offering simplicity for customers with a focus on video and CTV, resulted in contribution ex-TAC growth of 20% in the fourth quarter, and 64% growth for the full year."

Druker said underpinning its strong growth was an increase in customer spend on CTV services, which increased 108% across Tremor's platform during 2021.

"Our differentiated strategy, as well as our ability to generate strong operating leverage and growth within our self-service offerings, contributed to strong profitability which drove full year adjusted EBITDA of $161.2m and growth of 166% for 2021, resulting in a 53% adjusted EBITDA margin, which we believe is best in class for our industry."

At 1330 GMT, shares in Tremor International were up 6.2% at 514p.

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