RCS - artnet AG - Artnet Publishes Quarterly Report

Hermes International SCAAnnouncement

16/05/2022 08:15

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RNS Number : 5799L  artnet AG  16 May 2022

 artnet AG / Key word(s): Quarterly / Interim Statement/Sustainability

artnet AG: Artnet Publishes Quarterly Report, Showing Accelerated Revenue
 Growth

16.05.2022

The issuer is solely responsible for the content of this announcement.

Artnet Publishes Quarterly Report, Showing Accelerated Revenue Growth

 - 19% total revenue increase to 6.2 million USD in the first Quarter

 - 111% revenue growth in Media Segment

 - Artnet Price Database relaunch on schedule for late Q2 2022 release

 New York/ Berlin, May 15, 2022: Artnet AG, the leading platform for art market
 data and media, and the global marketplace for fine art, today published its
 Quarterly Statement for the first quarter of 2022. As reflected in the
 Statement, Artnet accelerated its growth, with total revenue increasing 19% to
 6.2 Million USD. Operating Income for the first quarter of 2022 was -786k USD.
 The result is due to continued investment in product development as well as
 sales and marketing. "We're following a growth strategy and this is reflected
 in the continued investment in product development as our team," says Artnet's
 CEO Jacob Pabst. Harnessing the unique synergies between the Company's Media,
 Marketplace, and Data segments, Artnet is positioned to capture the nascent
 shift in purchasing behavior towards online transactions by providing a
 holistic online ecosystem for the global art market.

The Media segment recorded-record breaking growth, an 111% increase YoY within
 the first Quarter. This was driven by an increase in Luxury Advertising, with
 recurring clients such as Hermes, Saint Laurent, and JP Morgan Private Bank
 choosing Artnet as their trusted advertising partner. Luxury Advertising
 increased by 89% YoY within the first Quarter of 2022.

Artnet's Marketplace segment saw revenues increase 3% YoY, with Artnet
 Auctions revenue increasing 12% YoY. Top lots during the first quarter of 2022
 include Roy Lichtenstein's Nude with Yellow Pillow (from the Nude series),
 which realized 425,000 USD including premium, significantly above its high
 estimate of 300,000 USD; Light artist Dan Flavin's 'Untitled (to Brad
 Gillaugh), which hammered down at 275,000 USD including premium; as well as Ed
 Ruscha's iconic 'Mocha Standard,' which realized 150,000 USD including
 premium. Data revenue declined by 2% YoY, with the release of the redesigned
 and improved Price Database at the end of Q2 set to drive growth in the second
 half of the year.

 Further Investor-relations related news and publications can be found here:

http://www.artnet.com/investor-relations/

 About Artnet

Artnet has an unparalleled 55 million users annually, making it the largest
 global platform for fine art. Founded in 1989, Artnet has revolutionized the
 way people discover, research, and collect art today. Artnet's Data provides
 mission-critical resources for the art industry, encompassing more than 15
 million auction results and AI- and ML-driven analytics, further driving
 transparency and insight into the art market. Artnet's marketplace connects
 leading galleries and auction houses with its global audience, offering a
 curated selection of over 250,000 artworks for sale worldwide. Artnet
 Auctions, the pioneering online-only auction platform, offers unprecedented
 reach, liquidity, and efficiency for buyers and sellers. Artnet News covers
 the events, trends, and people shaping the global art market with
 up-to-the-minute analysis and expert commentary. It is the single most-read
 news publication in the fine art industry, with a rapidly growing, dedicated
 audience. Together, Artnet's broad synergistic product offering provides a
 comprehensive ecosystem that drives and informs the modern art market.

Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the
 segment with the highest transparency standards. The majority of operations
 are headquartered in New York at its wholly-owned subsidiary, Artnet Worldwide
 Corporation, a New York based entity founded in 1989. Artnet Worldwide Corp.
 owns a London based subsidiary, Artnet UK Ltd.

 ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

Contact:

Sophie Neuendorf

sneuendorf@artnet.com

15.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service
 of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
 Financial/Corporate News and Press Releases.
 Archive at www.dgap.de

 Language:     English
 Company:      artnet AG
               Oranienstraße 164
               10969 Berlin
               Germany
 Phone:        +49 (0)30 20 91 78 -0
 Fax:          +49 (0)30 20 91 78 -29
 E-mail:       info@artnet.de
 Internet:     www.artnet.de
 ISIN:         DE000A1K0375
 WKN:          A1K037
 Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in
               Berlin, Dusseldorf, Stuttgart, Tradegate Exchange
 EQS News ID:  1352633

 

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