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 reported a significant financial performance for Q3 2021, with total revenue skyrocketing 153% year-over-year to CAD$10.4 million, up from CAD$4.1 million in Q3 2020. For the nine-month period, revenue surged 180% to CAD$26.0 million compared to CAD$9.3 million in 2020. Adjusted EBITDA for Q3 was CAD$585,000, a decrease from CAD$925,000 in Q3 2020, while it increased 23% year-to-date. The company launched the Adcore Marketing Cloud and continues to grow its Amphy.com platform. Cash reserves increased to CAD$15.5 million, highlighting robust working capital growth.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) has announced the acquisition of multiple new clients across EMEA, AUNZ, and Greater China, with an estimated annual advertising budget of CAD$4M. This development reflects continued growth and strong demand for Adcore's advertising management and automation platform. The company has also expanded its workforce by adding 10 new professionals since September 2021. CEO Omri Brill highlighted the importance of adapting digital marketing strategies for client growth, emphasizing Adcore's industry expertise and technology.
Adcore Inc. (ADCOF) is set to release its third quarter 2021 financial results on November 10, 2021, after market close. A conference call will follow on November 11, 2021, at 8:30 a.m. ET to discuss these results. The company, operating in e-commerce advertising and automation, emphasizes maximizing advertising ROI through its proprietary AI engine. With a strong industry presence, Adcore is recognized as a certified Google Premier Partner, Microsoft Partner, and more. Investors are encouraged to submit questions to management ahead of the call.
Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) announced a significant milestone with its subsidiary Amphy launching a social commerce feature, enhancing user engagement by allowing group class bookings at discounted rates. This feature positions Amphy as a leader in live online learning with over 1,000 classes available across 70 categories. CEO Omri Brill notes that this growth exceeds expectations and will foster community engagement among learners.
Adcore Inc. has established a wholly-owned subsidiary, Adcore US Inc., to expand its operations in the U.S. digital marketing sector, which is projected to reach $304 billion in ad spend by 2025. This move follows the company's recent commencement of trading on the OTCQX and obtaining DTC eligibility. CEO Omri Brill emphasized that the U.S. represents a significant growth opportunity and aims for increased activity in the market by Q4 2021. Adcore has rapidly expanded globally since going public and plans to leverage its digital marketing solutions for U.S. clients.
Adcore Inc. (ADCOF) announced the launch of its Adcore Marketing Cloud (AMC) on September 22, 2021. This new platform integrates four applications into a scalable cloud-based solution, enhancing the digital marketing experience for customers. CEO Omri Brill emphasized the milestone's significance, stating it will improve revenue generation and support third-party integrations. Stakeholders are invited to a live webcast for a detailed overview and demonstration of the platform. Adcore aims to empower businesses through its innovative advertising management solutions.
Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) will be featured on Money Talks With Michael Campbell on September 11, 2021. The segment will highlight the potential of the Education Technology sector and the launch of Adcore's innovative platform, Amphy, which offers diverse live online classes. Amphy connects local educators with a global audience, providing flexibility in pricing and scheduling. Since its soft launch, over 300 teachers have been onboarded, offering 1,000 classes across 70 categories.
The company also discontinued its investor relations agreement with Virtus Advisory Group.
Adcore Inc. (ADCOF) reported a robust financial performance for Q2 2021, with total revenue surging 250% to CAD$7.0 million, compared to CAD$2.0 million in Q2 2020. Year-to-date revenue also rose by 232% to CAD$15.6 million. Adjusted EBITDA increased 189% to CAD$1.5 million. The company’s working capital grew by CAD$5.3 million, totaling CAD$13.1 million. A significant highlight was the launch of Amphy.com, a live learning marketplace, which onboarded over 200 teachers and offers 800 classes. Adcore also raised CAD$4.1 million to fuel future growth.
Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) announced it will release its Q2 2021 financial results on August 10, 2021, after market close. A conference call will follow on August 11, 2021, at 8:30 a.m. ET to discuss these results. The company leverages digital marketing through its advertising management platform, promoting 'Effortless Marketing.' With a presence in key global markets, Adcore is recognized as a Google Premier Partner and has been featured on Deloitte's Fast 50 Technology list.
Adcore Inc. announced the appointment of Oded Orgil as an independent director, succeeding Jason Saltzman, who remains as Canadian legal counsel. Orgil, the founder of 5X Capital Management and CEO of Ocean Falls Blockchain, brings extensive experience from positions at Gravitas Securities and Canaccord Genuity. CEO Omri Brill expressed confidence in Orgil's contributions to the company's board. Orgil will also join the reconstituted audit committee, enhancing Adcore's governance and strategic direction.
FAQ
What is the current stock price of Adcore (ADCOF)?
What is the market cap of Adcore (ADCOF)?
What does Adcore Inc. do?
What recent achievements has Adcore made?
Who are Adcore's major partners?
How did Adcore perform financially in 2023?
What is Amphy?
Where is Adcore headquartered?
What distinguishes Feeditor Plus+?
How can investors obtain more information about Adcore?
