Ackroo Releases Q3 2023 Financial Results
09 Novembro 2023 - 10:00AM
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty
marketing, payments and point-of-sale technology and services
provider, has filed its financial results for the period ended
September 30, 2023. The results for the period ended September
30th,2023 reflect 8% year-to-date year over year revenue growth and
24% year-to-date year over year adjusted EBITDA growth. During the
period the Company also achieved 24% adjusted EBITDA as a
percentage of total revenue increasing the year-to-date EBITDA as a
percentage of revenue to 21%. The Company used $200,000 of their
earnings towards share buy-backs and used the rest of the generated
cash flow to reduce debt. The Company plans to continue their focus
on earnings generation in order to continue to improve their
balance sheet, buy back shares and to help fund future
acquisitions.
The complete financial results for Ackroo, along
with management’s discussion and analysis for the quarter ended
September 30, 2023, are available under the profile for the Company
at www.sedar.com. Highlights include:
Nine Months Ended Sept 30, 2023 vs. Nine Months Ended
Sept 30, 2022:
|
YTD 2023 TOTALS |
YTD 2022 TOTALS |
+/- % Change |
Total Revenue |
$5,060,328 |
$4,668,402 |
+ 8% |
Subscription Rev |
$4,418,596 |
$4,034,077 |
+ 10% |
Gross Margins |
$4,636,809 (92%) |
$4,293,970 (92%) |
+ 8% (+0%) |
Adjusted EBITDA |
$1,087,419 |
$874,776 |
+ 24% |
EBITDA % of Rev |
21% |
19% |
+ 2% |
Q3 2023 vs. Q3 2022:
|
Q3 2023 TOTALS |
Q3 2022 TOTALS |
+/- % Change |
Total Revenue |
$1,624,001 |
$1,528,411 |
+ 6% |
Subscription Rev |
$1,396,732 |
$1,333,237 |
+ 5% |
Gross Margins |
$1,477,437 (91%) |
$1,403,618 (92%) |
+ 5% (-1%) |
Adjusted EBITDA |
$394,155 |
$337,504 |
+ 17% |
EBITDA % of Rev |
24% |
22% |
+ 2% |
“Our continued focus on earnings generation and
business simplification are delivering great results for the
business,” said Steve Levely, CEO of Ackroo. “On the earnings side
we are delivering both year over year and quarter over quarter
growth affording us the ability to pay down debt, buy back shares
and have capital to acquire our next company. We are accomplishing
this by taking a very lean approach to our business in regards to
staffing while also having better financial discipline around
renegotiation of supplier agreements and overall business
management. On the solution side our divesture of GGGolf and our
move to put less focus on our AckrooPOS business and more focus on
our AckrooMKTG and AckrooPAY business is leading to revenue growth
and operational efficiencies across the business. The less is more
is certainly playing true for Ackroo. We still have plenty more to
accomplish and improve on however I am really excited about the
progress we are making and what our future looks like for our
shareholders, clients and employees.”
About Ackroo
Through vendor and industry consolidation,
Ackroo provides marketing, payment and point-of-sale solutions for
merchants of all sizes. Ackroo’s self-serve, data driven,
cloud-based marketing platform helps merchants in-store and online
process and manage loyalty, gift card and promotional transactions
at the point of sale. Ackroo’s payment services provide merchants
with low-cost payment processing options through some of the
world’s largest payment technology and service providers. Ackroo’s
hybrid management and point-of-sale solution helps manage and
optimize the general operations for niche industry’s like used car
and boat dealers. All solutions are focused on helping to
consolidate, simplify and improve the merchant marketing, payments
and point-of sale ecosystem for their clients. Ackroo is
headquartered in Hamilton, Ontario, Canada. For more information,
visit: www.ackroo.com.
For further information, please contact:
Steve LevelyChief Executive
Officer | AckrooTel: 416-360-5619 x730Email: slevely@ackroo.com
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking StatementsThis
release contains forecasts and forward-looking statements that are
not guarantees of future performance and activities and are subject
to risks and uncertainties. The Company has based these
forward-looking statements on assumptions and assessments made by
its management in light of their experience and their perception of
historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors
that could cause actual results, developments and business
decisions to differ materially from those anticipated in these
forward-looking statements include, but are not limited to: the
Company’s ability to raise enough capital to support the Company’s
go forward plans; the overall global economic environment; the
impact of competition and new technologies; general market,
political and economic conditions in the countries in which the
Company operates; projected capital expenditures and liquidity;
changes in the Company’s strategy; government regulations and
approvals; changes in customers’ budgeting priorities; plus other
factors that may arise. Any forward-looking statements in this
press release are made as of the date hereof, and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
*“Adjusted EBITDA” is a non-International
Financial Reporting Standard (IFRS) measure, and does not have a
standardized meaning prescribed by IFRS. Adjusted EBITDA is
calculated as net income (loss) excluding interest, taxes,
depreciation and amortization, or EBITDA, as adjusted for
share-based compensation and related expenses and foreign exchange
gains and losses. A complete reconciliation of this amount to net
income (loss) for the corresponding period is available in
managements’ discussion and analysis.
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