Welcome to our dedicated page for ACKROO news (Ticker: AKRFF), a resource for investors and traders seeking the latest updates and insights on ACKROO stock.
Ackroo Inc. (OTC: AKRFF) is a Canadian-based company that specializes in providing gift card and loyalty processing solutions. Utilizing a SaaS-based business model, Ackroo offers automated solutions for both in-store and online environments. Their platform enables small to medium-sized businesses to process gift card and loyalty transactions at the point of sale, while also offering essential administrative and marketing data. This empowers merchants to attract, retain, and grow their customer base efficiently.
Headquartered in Hamilton, Ontario, Ackroo’s unique platform simplifies the marketing and payments ecosystem for various industries, including automotive dealerships and convenience stores. The company operates a self-serve, data-driven, cloud-based marketing platform to manage loyalty, gift card, and promotional transactions. Ackroo’s acquisition strategy focuses on consolidating and integrating gift card, loyalty marketing, payment, and point-of-sale solutions to provide comprehensive services to merchants of all sizes.
In recent news, Ackroo has made significant strides with the acquisition of Simpliconnect, a US-based loyalty marketing provider. This acquisition has not only streamlined operations but has also contributed positively to the company's financial performance. Ackroo reported a 16% profit margin from the Simpliconnect acquisition and expects to generate a 60%+ profit margin moving forward.
Additionally, Ackroo has shown strong financial health with a 23% year-over-year growth in adjusted EBITDA and an 11% increase in total annual revenue for 2023. These figures underscore Ackroo’s ability to optimize its operations and maintain profitability.
The company is also actively seeking a new Chief Financial Officer to further enhance its corporate governance and meet TSX Venture Exchange requirements. Ackroo remains focused on expanding its market presence, improving its core technology platform, and driving long-term shareholder value. For more information, visit www.ackroo.com.
Ackroo (TSX-V: AKR; OTC: AKRFF) reported Q3 2024 financial results showing mixed performance. While total revenue decreased by 4% to $1,551,696 compared to Q3 2023, subscription revenue grew 1% to $1,411,166. The company achieved significant EBITDA growth of 35% year-over-year, reaching $530,937 (34% of total revenue). Year-to-date adjusted EBITDA increased 43% to $1,552,275. Gross margins slightly declined to 88% from 91%. The company utilized $175,000 of earnings for share buybacks and debt reduction while focusing on operational efficiency and cash generation.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced a restructuring of its loan with BDC Capital. The company has agreed to a 12-month payment plan for the remaining $3,000,000 principal balance, starting September 30, 2024. The new plan includes:
- Minimum monthly payments of $50,000 for 12 months
- A final balloon payment of $2,450,000 due on August 31, 2025
- Option to pay the full principal balance without prepayment penalties
The loan's other terms, including the 9.3% base interest rate plus 1.7% variance, remain unchanged. This restructuring allows Ackroo to continue its acquisition strategy while managing debt repayment.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has released its Q2 2024 financial results, showing significant EBITDA growth despite modest revenue increases. Key highlights include:
- Total revenue of $1,633,238, up 1% YoY
- Recurring subscription revenue of $1,461,199, up 4% YoY
- Adjusted EBITDA of $515,635, a 113% increase YoY
- EBITDA margin of 32%, up from 15% in Q2 2023
While H1 2024 saw a 7% decrease in total revenue compared to H1 2023, the company achieved a 47% increase in adjusted EBITDA. CEO Steve Levely emphasized the company's focus on increasing earnings and cash flow to support potential growth strategies and improve its financial position.
Ackroo has received approval from the TSX Venture Exchange to proceed with its Normal Course Issuer Bid (NCIB), announced on June 17, 2024. The NCIB allows Ackroo to purchase up to 5,765,248 of its outstanding common shares over a 12-month period starting July 8, 2024, representing approximately 5% of its share capital. The company may not acquire more than 2% of the shares in any 30-day period. These purchases will take place on the open market at prevailing prices, and all acquired shares will be cancelled. The NCIB will be managed by Canaccord Genuity and funded from Ackroo's working capital. No company insiders are currently planning to sell shares to Ackroo under this program. Ackroo previously completed an NCIB on December 7, 2023, purchasing and canceling 6,068,681 shares.
Ackroo has announced the renewal of its Normal Course Issuer Bid (NCIB) with the TSX Venture Exchange (TSXV), allowing the company to continue purchasing its common shares. Subject to TSXV approval, Ackroo may buy up to 5.0% of its outstanding shares, or 5,765,248 shares, over a 12-month period starting June 17, 2024. The company believes the market price may not fully reflect its business value and future prospects, hence the decision to enhance shareholder value through share buybacks. Purchases will be made via open market transactions and will be managed by Canaccord Genuity Corp. Shares bought will be canceled. Funding will come from Ackroo's working capital, and no insiders have intentions to sell shares to the company.
Ackroo has released its Q1 2024 financial results, reporting quarterly revenues of $1,547,417 and recurring subscription revenue of $1,425,369. Despite a 15% decline in total revenue and a 12% dip in subscription revenue, primarily due to the divestiture of GGGolf, the company achieved a 12% year-over-year growth in adjusted EBITDA, reaching $505,705. Gross margins rose to 90% from 88% in Q1 2023. The company completed major milestones, including paying off the GiftFly acquisition debt and advancing the Simpliconnect migration. Ackroo also announced a three-month loan extension with BDC Capital, postponing the loan maturity to September 15, 2024.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announces 2023 audited financial results with $6,977,597 in total revenue, an 11% YoY increase, and $6,086,981 in annual recurring revenue, a 14% increase. The company achieved $1,722,102 of adjusted EBITDA, a 23% YoY increase, representing 27% of total revenues. Ackroo improved its balance sheet, completed acquisitions, divested non-core assets, paid down debt, bought back shares, and enhanced operations. The company is optimistic about its future. Key financial data includes:
- Total Revenue: $6,977,596
- Recurring Revenue: $6,086,981
- Adjusted EBITDA: $1,722,102
- EPS: $0.007
FAQ
What is the current stock price of ACKROO (AKRFF)?
What is the market cap of ACKROO (AKRFF)?
What services does Ackroo Inc. offer?
Where is Ackroo Inc. headquartered?
What are some recent achievements of Ackroo Inc.?
How does Ackroo’s platform benefit merchants?
What industries does Ackroo Inc. serve?
What is Ackroo’s business model?
Has Ackroo made any recent acquisitions?
What is Ackroo’s financial performance like?
Is Ackroo looking to fill any key positions?
Where can I find more information about Ackroo?
