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About Ackroo (Symbol: AKRFF)
Ackroo is a Canada-based technology company specializing in gift card and loyalty processing solutions designed to empower small to medium-sized businesses (SMBs) across various industries. Through its innovative Software-as-a-Service (SaaS) platform, Ackroo enables merchants to seamlessly manage gift card and loyalty transactions both in-store and online. By automating these processes, the company helps businesses improve customer retention, drive repeat purchases, and ultimately increase revenues.
Core Business Model
Ackroo operates on a subscription-based SaaS model, providing an integrated solution that combines gift card management, loyalty programs, and marketing services. Its platform not only facilitates transactions but also delivers valuable administrative and marketing data to merchants, enabling data-driven decision-making. Ackroo's marketing services further enhance the value of its platform by helping businesses maximize the effectiveness of their loyalty and gift card programs.
Industry Context
The company operates within the rapidly growing digital payment and customer engagement solutions industry. As consumer expectations for personalized and seamless experiences continue to rise, SMBs increasingly turn to technology-driven solutions like Ackroo's to remain competitive. The demand for loyalty programs and gift card solutions has grown significantly, particularly as businesses seek to build long-term customer relationships and differentiate themselves in crowded markets.
Competitive Positioning
While the market for loyalty and gift card solutions is competitive, Ackroo distinguishes itself by focusing specifically on SMBs. Unlike larger competitors that often target enterprise clients, Ackroo’s platform is tailored to meet the unique needs of smaller businesses, offering an affordable and easy-to-use solution. Its dual emphasis on technology and marketing services further sets it apart, providing a comprehensive approach to customer engagement and revenue growth.
Key Differentiators
- Integrated Solution: Ackroo combines gift card and loyalty program management with marketing services, offering a one-stop solution for SMBs.
- Scalability: The SaaS model allows businesses to scale their loyalty and gift card programs as they grow.
- Data-Driven Insights: Merchants gain access to actionable data that helps optimize customer engagement strategies.
- Focus on SMBs: Ackroo’s platform is specifically designed to address the challenges and opportunities faced by small to medium-sized businesses.
Strategic Growth and Acquisitions
Ackroo has demonstrated a commitment to growth through strategic acquisitions, such as its recent integration of Simpliconnect. This acquisition enhances the company’s technological capabilities and positions it to capture a larger share of the market. Additionally, Ackroo’s disciplined focus on operational efficiency and cash flow generation underscores its readiness for future scalability or potential strategic exits.
Conclusion
With its robust SaaS platform, focus on SMBs, and integrated approach to loyalty and gift card solutions, Ackroo is well-positioned within the digital payment and customer engagement industry. By addressing the evolving needs of businesses and consumers alike, the company continues to play a vital role in helping merchants attract, retain, and grow their customer base.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced the successful voting results from its annual general and special meeting held on February 24, 2025. Shareholders overwhelmingly approved the special resolution for a statutory plan of arrangement that will allow Paystone Inc. to acquire all issued and outstanding Ackroo shares and assume all company assets and liabilities.
The arrangement received strong support with 99.91% of eligible votes cast in favor. A total of 83,212,289 shares were represented at the meeting, accounting for approximately 72.36% of all outstanding shares. The resolution passed both required thresholds, securing more than two-thirds (66⅔%) of total votes and majority approval from minority shareholders.
The final court hearing to approve the arrangement is scheduled for March 3, 2025. The transaction remains subject to final court and regulatory approvals, including TSX Venture Exchange approval, with completion anticipated in Q1 2025.
Ackroo (TSX-V: AKR; OTC: AKRFF) has provided an update regarding the voting process for its upcoming annual general and special meeting scheduled for February 24, 2025. The company clarified details about the statutory plan of arrangement approval requirements, which needs: (i) at least two-thirds (66⅔%) of votes cast by shareholders present or by proxy, and (ii) a majority approval (50% + 1) excluding certain interested parties.
To ensure fair treatment and comply with MI 61-101 requirements, votes from directors Bergeron-Bellanger, Clare, and French, who collectively hold approximately 8.6% of outstanding shares, will be excluded from the minority approval calculation. The company has also extended the proxy submission deadline to the start of the meeting at 10:00 a.m. (Eastern Time) on February 24, 2025.
Ackroo has announced its annual general and special meeting scheduled for February 24, 2025, where shareholders will vote on the company's sale to Paystone. The meeting will take place at 10:00 p.m. Eastern Time in Stoney Creek, Ontario. Paystone has secured formal financing commitment through its banking partners.
For the arrangement to proceed, it requires approval from two-thirds (66⅔%) of shareholder votes and a majority (50% + 1) of minority shareholders. The Board of Directors unanimously recommends voting FOR the arrangement. The Ontario Superior Court of Justice has granted an interim order for the meeting proceedings.
The companies have extended the completion deadline to March 31, 2025. The arrangement remains subject to shareholder approval, regulatory approvals, and final court order.
Ackroo Inc. (AKRFF) has signed a definitive arrangement agreement to be acquired by Paystone Inc. in an all-cash transaction valued at $21 million. Paystone will acquire all outstanding Ackroo shares at $0.15 per share, representing a 25% premium over the previous closing price and a 36% premium over the 90-day volume weighted average price.
The transaction includes the assumption of approximately $3 million in BDC debt and covers about 9 million in-the-money options. CEO Steve Levely will transition to the role of Chief Operating Officer at Paystone. The deal is expected to close in February 2025, subject to shareholder approval and other conditions. Upon completion, Ackroo will be delisted from TSX Venture Exchange.
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.
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