Ackroo Releases Q2 2023 Financial Results
Ackroo delivers
HAMILTON, Ontario, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended June 30, 2023. The results for the period ended June 30th, 2023 reflect
The complete financial results for Ackroo, along with management’s discussion and analysis for the quarter ended June 30, 2023, are available under the profile for the Company at www.sedar.com. Highlights include:
H1 2023 vs. 2022:
H1 2023 TOTALS | H1 2022 TOTALS | +/- % Change | ||||||
Total Revenue | + 9% | |||||||
Subscription Rev | + 12% | |||||||
Gross Margins | + | |||||||
Adjusted EBITDA | + 25% | |||||||
EBITDA % of Rev | | | + 2% |
Q2 2023 vs. 2022:
Q2 2023 TOTALS | Q2 2022 TOTALS | +/- % Change | ||||||
Total Revenue | + 2% | |||||||
Subscription Rev | + 5% | |||||||
Gross Margins | - | |||||||
Adjusted EBITDA | -29% | |||||||
EBITDA % of Rev | | | -5% |
“We are very happy with the continued growth and our strong adjusted EBITDA and general business management we are delivering,” said Steve Levely, CEO of Ackroo. “To start the year, we had a goal of double-digit growth while maintaining a
About Ackroo
Through vendor and industry consolidation, Ackroo provides marketing, payment and point-of-sale solutions for merchants of all sizes. Ackroo’s self-serve, data driven, cloud-based marketing platform helps merchants in-store and online process and manage loyalty, gift card and promotional transactions at the point of sale. Ackroo’s payment services provide merchants with low-cost payment processing options through some of the world’s largest payment technology and service providers. Ackroo’s hybrid management and point-of-sale solutions help manage and optimize the general operations for niche industry’s including automotive dealers and more. All solutions are focused on helping to consolidate, simplify and improve the merchant marketing, payments and point-of sale ecosystem for their clients. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For further information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 416-360-5619 x730
Email: slevely@ackroo.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This release contains forecasts and forward-looking statements that are not guarantees of future performance and activities and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the Company’s ability to raise enough capital to support the Company’s go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the Company operates; projected capital expenditures and liquidity; changes in the Company’s strategy; government regulations and approvals; changes in customers’ budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
*“Adjusted EBITDA” is a non-International Financial Reporting Standard (IFRS) measure, and does not have a standardized meaning prescribed by IFRS. Adjusted EBITDA is calculated as net income (loss) excluding interest, taxes, depreciation and amortization, or EBITDA, as adjusted for share-based compensation and related expenses and foreign exchange gains and losses. A complete reconciliation of this amount to net income (loss) for the corresponding period is available in managements’ discussion and analysis.