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) announced the results from its annual general meeting held in Toronto. Five director nominees were elected with support ranging from 99.93% to 99.96% of votes cast. The shareholders also approved the appointment of Ziv Haft, Certified Public Accountants as auditors with a 99.63% affirmation vote. Established in 2006, Adcore is known for its e-commerce advertising management platform, enhancing digital marketing for clients. The company is recognized as a Google Premier Partner and employs over 50 individuals across various locations.
Adcore Inc. announced an agreement to purchase and cancel 2,171,400 common shares, equating to 3.4% of its outstanding shares, from a former executive at a price of $0.20 per share. This transaction is classified as an exempt issuer bid. The board believes the share price does not reflect the company's true value, positioning this buyback as beneficial for shareholders. Post-cancellation, Adcore will have 61,613,021 shares outstanding. The company continues to enhance e-commerce through its advertising management and automation platform.
Adcore Inc. (TSX:ADCO) has launched a new blog aimed at enhancing its digital marketing services. This blog targets marketing professionals, providing valuable insights into PPC, e-commerce, and advertising technologies. CEO Omri Brill emphasized the importance of high-quality content in building trust and engagement with clients. The company is already seeing a significant increase in subscribers, indicating the relevance of the content. Adcore aims to further leverage the blog to support its growing customer base and enhance their understanding of digital marketing.
Adcore Inc. has secured a contract with Candlefox, an Australian education marketing agency, to manage up to CAD $12 million in annual paid digital marketing activities. This partnership aims to enhance student enrollment for various educational institutions across Australia, New Zealand, and the UK. Adcore's CEO, Omri Brill, expressed enthusiasm for leveraging their expertise to meet Candlefox's needs effectively. Given Adcore's credentials as a certified Google Premier Partner, this collaboration positions them to potentially optimize marketing strategies and return on investment for clients.
Adcore Inc. announced that the Toronto Stock Exchange has approved its normal course issuer bid (NCIB). The company may repurchase up to 3,188,475 shares, approximately 5% of its outstanding shares, within a year, starting May 18, 2022. Daily purchases are capped at 13,593 shares, roughly 25% of average trading volume. Any shares bought will be canceled. Although Adcore intends to buy shares, it does not guarantee completion. The NCIB may employ an automatic purchase plan during blackout periods.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) announced plans for a Normal Course Issuer Bid (NCIB) to purchase up to 3,188,475 common shares. The company believes the current market price does not fully reflect the shares' value, making this purchase an attractive use of available funds. The NCIB, subject to TSX acceptance, is set to commence on May 18, 2022, and will terminate one year later or upon purchase of the maximum shares. Share repurchases will occur at prevailing market prices, with all shares acquired canceled.
Adcore reported its Q1 2022 financial results, revealing total revenue of CAD$4.7 million, down from CAD$8.6 million in Q1 2021. Despite a 2% increase in gross profit to CAD$2.0 million, the gross margin rose significantly to 43%, up from 23% a year earlier. The company faced an operating loss of CAD$446 thousand, compared to a profit of CAD$36 thousand last year, while Adjusted EBITDA decreased 85% to CAD$85 thousand. Adcore secured 14 new clients globally and extended its contract with the Israeli Government for up to CAD$25 million annually, enhancing its partnerships with Microsoft and Google.
Adcore Inc. (Ticker: ADCOF) will release its financial results for Q1 2022 on May 10, 2022, after market close. A conference call is scheduled for May 11, 2022, at 10:00 a.m. ET, focusing on the results and addressing shareholder questions. The company is known for its e-commerce advertising management platform and is recognized as a certified Google Premier Partner and Elite Tier Microsoft Partner. Established in 2006, Adcore operates from multiple global locations, providing innovative digital marketing solutions.
Adcore Inc. has announced a new contract with Best & Less to manage its search engine marketing efforts. This agreement marks a significant collaboration as Best & Less seeks to enhance its ecommerce capabilities post-COVID-19. Adcore aims to leverage its advanced digital marketing solutions to support the Australian retailer's growth objectives. CEO Omri Brill expressed enthusiasm for the partnership, while Best & Less management highlighted the need for robust performance marketing strategies for their omni-channel growth. This partnership underscores Adcore’s established reputation in the Australian ecommerce market.
Adcore reported a 57% increase in total revenue for the year ending December 31, 2021, reaching CAD$35.7 million, up from CAD$22.8 million in 2020. Adjusted EBITDA rose to CAD$3.9 million, a 17% increase. The company improved its cash position, with total working capital growing by 67% to CAD$13.0 million. In the fourth quarter, revenue totaled CAD$9.7 million, with a notable increase in operating profit of 356% year-over-year. Adcore launched the Amphy.com learning platform and expanded into the U.S. market, setting a foundation for sustainable growth.
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