Adaptive Ad Systems

AATV

Advertising Agencies · Communication Services

Price

$0.13

+0.00 (+0.00%)

Market Cap

$4.7M

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count falling — buybacks

−8.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 49.8M (2021) → 45.8M (2025)

Winston Score History

The full picture

Adaptive Ad Systems is a small advertising technology company that helps businesses run digital ads more effectively. It builds software tools that use data to automatically adjust and optimize ad campaigns for its clients, which are typically small and mid-sized businesses looking to get more out of their online marketing budgets. The company operates in the digital advertising industry, competing against many larger, better-funded platforms.

The company earns revenue by charging clients fees for using its ad management software and related services, which may include a mix of subscriptions and service contracts. It is a very small company with a market cap near zero, and its negative operating margin means it is currently spending significantly more than it earns. The biggest risk facing Adaptive Ad Systems is its ability to reach profitability before it runs out of resources, as it competes in a crowded market dominated by much larger players like Google and Meta.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+77.1% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+101.1% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$186,336/ year

↓ Declining (-31% vs prior year)

9.8% of revenue

In line with sector average (12%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

100.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

→ Burn rate stable

$16M cash & investments at current burn rate

Revenue accelerating

Adaptive Ad Systems grew revenue 77% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

36.2%

Modest — 36.2% gross margin

Profit after running costs

Operating Margin

-10.6%

Losing money on operations — -10.6%

Return on the money invested

ROCE

-9.3%

Weak — -9.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-66.9%

Shrinking sales (-66.9% YoY)

Profit growth

EPS YoY

-191.3%

Earnings shrinking (-191.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-46.9%

Burning cash (-46.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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