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.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) reported its financial results for the year ended December 31, 2022, highlighting key performance metrics. Gross margin improved by 43%, accompanied by the addition of over 20 new strategic customers. Revenue for 2022 was CAD$26.6 million, down 25% from 2021, while adjusted EBITDA decreased by 64% to CAD$1.4 million. Notably, EMEA and North America saw regional revenue increases of 71% and 125%, respectively. Cash and cash equivalents stood at CAD$8.8 million as of year-end. Looking ahead, Q1 2023 revenue is projected between CAD$6 million and CAD$6.5 million.
Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) will announce its fourth quarter and fiscal year financial results for 2022 on March 29, 2023, following the market close. A conference call and webcast to discuss these results will occur on March 30, 2023, at 10:00 AM ET. Adcore, known for its e-commerce advertising management platform, is dedicated to helping businesses optimize their digital marketing strategies. Established in 2006, the company operates from multiple global locations and has received recognition as a certified Google Premier Partner. Investors can submit questions ahead of the call and are encouraged to participate.
Adcore has engaged Bristol Capital Ltd. for North American investor relations and Dr. Reuter Investor Relations for European services to enhance shareholder communication. Bristol's contract is for 12 months, with a monthly fee of up to CAD $10,000 and 200,000 stock options at CAD $0.35 each. Dr. Reuter's initial engagement lasts 6 months at a fee of up to €3,000 per month. The company has also terminated its prior arrangement with IMS Investor Relations, which lasted from January 2021 to February 2023. The CEO expressed confidence in the new partnerships to strengthen investor relationships as the company continues to grow.
TORONTO, ON / ACCESSWIRE / March 2, 2023 / Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) has reaffirmed its preliminary guidance for Q4 2022, expecting revenues between CAD$8 million and CAD$9.1 million, with gross profits projected between CAD$2.7 million and CAD$3.7 million, reflecting a gross margin of approximately 40%. The company reported a cash position increase of 7%, totaling CAD $8.8 million as of December 31, 2022, up from CAD $8.2 million on September 30, 2022. CEO Omri Brill highlighted the team's dedication and the positive results, emphasizing plans for continued growth.
Adcore Inc. has achieved the prestigious 2023 Google Premier Partner status, placing it among the top 3% of Google advertising partners. This recognition underscores Adcore's expertise in maximizing campaign success and driving client growth through advanced digital marketing solutions. As a result, Adcore will be allowed to display the Premier Partner badge on its marketing materials, further enhancing its brand credibility. CEO Omri Brill expressed pride in this achievement, reinforcing their commitment to impactful digital marketing. Adcore continues to empower e-commerce through its innovative advertising management platform.
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