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NEW YORK - Programmatic advertising technology provider Knorex Ltd. (NYSE American:KNRX) has completed its listing on the NYSE American exchange, according to a statement released by the company on Thursday. The stock, currently trading at $2.81, has experienced a challenging start, declining over 9% in the past week. InvestingPro analysis reveals several key indicators about the company’s market position, with 7 additional ProTips available to subscribers.
In a letter to shareholders, CEO Justin Choo described the listing as "a defining milestone" that provides the company with "vital capital and market visibility to accelerate our global growth."
Knorex, founded in 2009, offers an AI-driven cross-channel programmatic advertising platform called KNOREX XPO. The cloud-based system allows marketers to manage campaigns across multiple digital formats including social, search, connected TV, video, audio, display, and native advertising.
The company reported revenue of $10.8 million for 2024, representing a 24.0% increase from $8.7 million in 2023. Gross profit rose 40.0% to $4.5 million in 2024 from $3.2 million the previous year, achieving a gross margin of 41.79%. However, InvestingPro data shows the company is not yet profitable, with a negative EBITDA of $5.49 million in the last twelve months.
Choo indicated that proceeds from the IPO would help Knorex expand its geographic footprint in North America and Asia while enhancing its AI capabilities. The company currently maintains operations in the United States, Vietnam, India, Malaysia, and Singapore. Financial analysis from InvestingPro indicates the company operates with moderate debt levels but faces short-term liquidity challenges, with a current ratio of 0.37. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value.
The global digital advertising market is expected to reach $871 billion by 2027, according to figures cited in the company’s press release.
Knorex’s platform employs machine learning and automation for predictive budgeting, attribution, and real-time optimization across advertising channels. The company serves enterprises, agencies, and brands across multiple industries.
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