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. will present at the World Outlook Financial Conference on February 4, 2023, marking its third consecutive year at this event. Chief Partnerships Officer, Martijn van den Bemd, expressed enthusiasm for attending in-person for the first time. The company reported positive results through innovation and securing new contracts and renewals from partners. The World Outlook Financial Conference is known for providing valuable financial forecasts for investors over 33 years. Adcore specializes in e-commerce advertising management, utilizing AI to optimize advertising strategies for maximum ROI.
Adcore Inc. has issued preliminary guidance for its fourth quarter of 2022, projecting revenues between CAD$8 million and CAD$9.1 million, with gross profit expected to range from CAD$2.7 million to CAD$3.7 million, leading to a gross margin of 40%. The Company also appointed Zehavit Dan as General Counsel and Corporate Secretary, bringing over 18 years of legal experience. Adcore, a key player in e-commerce advertising management, continues to enhance its digital marketing solutions, aiming to empower advertisers worldwide.
Adcore Inc. has relaunches its Amphy e-learning platform, enhancing user experience with a redesigned interface and new features. Key upgrades include class trailers for previews, improved visibility for class availability, and a streamlined checkout process. These improvements aim to provide a more engaging online learning experience for users. CEO Omri Brill expressed enthusiasm for the upgrades, which are designed to support learners in achieving their goals. Founded in 2021, Amphy offers diverse live online classes to cater to various learning needs.
Adcore reported a strong third quarter for 2022, achieving a gross profit of CAD$3.4 million, a 45% increase year-over-year. Total revenue reached CAD$7.5 million, though this marked a decrease from CAD$10.4 million in Q3 2021. The company secured six new contracts with a potential annual ad budget of up to CAD$40 million. Adjusted EBITDA for the quarter was CAD$734 thousand, compared to CAD$585 thousand in the same period last year. However, working capital decreased by 19% to CAD$10 million from the previous year.
Adcore Inc. announced the renewal of its channel partner agreement with Microsoft for 2023, continuing its membership in the Microsoft Advertising Partner Program since September 2019. Adcore has held Microsoft Elite Partner status since February 2022, showcasing its leading role in digital marketing solutions. The partnership aims to enhance Adcore's offerings and expand its global customer base across various industries, ensuring a seamless experience for advertisers in the digital marketplace.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) announced it will release its third quarter financial results for the period ending September 30, 2022, on November 14, 2022, after market close. A conference call will take place on November 15, 2022, at 10:00 a.m. ET to discuss these results. Adcore leverages a proprietary AI-driven advertising management platform, enhancing digital marketing efforts for e-commerce clients. The company is recognized as a Google Premier Partner and has been featured in Deloitte’s Fast 50 Technology list. For more information, visit Adcore's investor page.
Adcore Inc. (TSX:ADCO) announced securing six new clients in Q3 2022, yielding a potential advertising budget of up to CAD$40 million, marking the largest quarterly ad spend addition in the company's history.
This expansion spans North America, Greater China, and Australia/New Zealand, with a focus on e-commerce sectors like fashion and health. CEO Omri Brill emphasized successful client acquisition in North America, anticipating significant business momentum into Q4 2022 and 2023.
Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) has launched the Alerter app, a digital asset monitoring tool integrated into the Adcore Marketing Cloud. This app provides continuous oversight of digital assets, including websites and ad accounts, issuing alerts for issues like downtime and ad disapprovals. Alerter is designed to enhance efficiency for marketers, helping to spot errors in real time and save costs. CEO Omri Brill highlighted the app as a significant milestone in Adcore's ambition to be a comprehensive solution for online marketing needs.
Adcore Inc. has appointed Nancy Goertzen to its Board of Directors, bringing over 25 years of diverse corporate development experience. CEO Omri Brill expressed optimism about Goertzen's role in advancing growth strategies. Goertzen's background spans several sectors, including media and renewable energy, and she has a proven track record in market readiness, ESG, and investor relations. This strategic move aligns with Adcore's ongoing innovation in its e-commerce advertising platform, aiming to enhance its market presence and drive future growth.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) will release its second quarter financial results for the period ending June 30, 2022, on August 10, 2022, after market close. A webcast and conference call will follow on August 11, 2022, at 10:00 a.m. ET, focusing on Q2 results and answering investor questions. The company is known for its e-commerce advertising management platform, leveraging AI to enhance digital marketing effectiveness, and has been recognized on Deloitte's Fast 50 Technology list.
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