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Losses at Location Services remained flat at £1.50m despite the growth in revenue to £0.45m from £0.23. as announced in the company's half year report for the period ending 30 June 2019.
The company's sales run rate per month grew to in excess of £100,000 with 49 new brands signed up to its Verify platform against 2019's target of 50 new brands.
New commercial partnerships signed with Blis Media Limited, SITO Mobile Ltd and JCDecaux UK.
Cash was on hand of £1.5 million at the end of the period.
Commenting on the results, Mark Slade, chief executive of Location Sciences, said:
'While disappointed that sales cycles are proving to be longer than previously envisaged, we are confident that the foundations laid provide a solid platform to grow Verify globally.'
'Our report on the state of location advertising highlighted the problems with inaccurate and poor quality data which gained us some great awareness with brands and agencies. In addition, our recent deal with Blis also shows the importance of Verify to the digital advertising industry.'
'In H2 2019, our focus is on converting more trial participants into "always-on" contracts, helping brands and agencies to get the most out of location advertising and delivering value to our investors.'