Welcome to our dedicated page for Adcore news (Ticker: ADCOF), a resource for investors and traders seeking the latest updates and insights on Adcore stock.
Adcore Inc. (symbol: ADCOF) is a premier AI-powered marketing and online learning technology company. Established in 2006, Adcore operates globally with headquarters in Tel Aviv, Israel, and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong, and Shanghai, China. As a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner, and TikTok Partner, Adcore offers an advanced and unique digital marketing solution designed to empower entrepreneurs and advertisers.
Adcore leverages its proprietary artificial intelligence (AI) powered technology to manage and automate e-commerce store advertising, monitor and analyze the performance of advertising budgets, and ensure maximum return on investment. The company's core products include innovative advertising management and automation platforms, such as the Feeditor app, which simplifies digital advertising for clients by transforming product data into recognizable templates, facilitating effortless synchronization with shopping and marketing platforms.
The company also runs Amphy, the world's most diverse 24/7 live online learning marketplace. Amphy provides thousands of classes across various categories, fostering a vibrant virtual teacher community and offering high-quality, personalized access to live classes anytime, anywhere.
Adcore has forged significant partnerships and agreements, such as the recent collaboration with a leading health and wellness company based in Australia. This contract oversees a digital advertising budget of up to CAD $10 million over a 12-month term, potentially generating approximately CAD $1 million in revenue for Adcore. CEO Omri Brill emphasized the importance of these partnerships in highlighting the company’s innovative solutions and its leadership in the digital marketing industry.
In the recent fiscal year, Adcore has shown strong financial performance and growth. The company's revenue for Q3 2023 was CAD $8.2 million, a 10% increase from the same period in 2022, with a gross margin of 40%. The fourth quarter saw a continued upward trajectory with a total revenue of CAD $9 million and a positive net income of CAD $74K. For the full year 2023, Adcore reported a total revenue of CAD $31.2 million, up 17% from 2022, despite a slight decrease in gross margin from 43% to 41%.
Adcore recently launched Feeditor Plus+, targeting enterprise e-commerce businesses with large inventories, enhancing feed management and optimization capabilities. The company's renewed partnership with Microsoft Advertising for the fifth consecutive year and achieving Google Premier Partner status for the third year in a row further cement its position as a key player in the digital marketing sector.
For more information about Adcore, please visit Adcore Investors or follow on LinkedIn. To explore Amphy’s offerings, visit Amphy.
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