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Ackroo Releases Q3 2024 Financial Results

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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 (TSX-V: AKR; OTC: AKRFF) ha riportato risultati finanziari per il terzo trimestre del 2024 che mostrano una performance mista. Sebbene il fatturato totale sia diminuito del 4% a $1.551.696 rispetto al terzo trimestre del 2023, il fatturato da abbonamenti è cresciuto dell'1% a $1.411.166. L'azienda ha registrato una significativa crescita dell'EBITDA del 35% su base annua, raggiungendo $530.937 (34% del fatturato totale). L'EBITDA rettificato da inizio anno è aumentato del 43% a $1.552.275. I margini lordi sono leggermente diminuiti all'88% rispetto al 91%. L'azienda ha utilizzato $175.000 di utili per riacquisti di azioni e riduzione del debito, concentrandosi sull'efficienza operativa e sulla generazione di cassa.

Ackroo (TSX-V: AKR; OTC: AKRFF) informó resultados financieros del tercer trimestre de 2024 que muestran un desempeño mixto. Mientras que los ingresos totales disminuyeron un 4% a $1,551,696 en comparación con el tercer trimestre de 2023, los ingresos por suscripción crecieron un 1% a $1,411,166. La compañía logró un crecimiento significativo del EBITDA del 35% interanual, alcanzando $530,937 (34% de los ingresos totales). El EBITDA ajustado del año hasta la fecha aumentó un 43% a $1,552,275. Los márgenes brutos disminuyeron ligeramente al 88% desde el 91%. La empresa utilizó $175,000 de ganancias para recompras de acciones y reducción de deuda mientras se centraba en la eficiencia operativa y la generación de efectivo.

Ackroo (TSX-V: AKR; OTC: AKRFF)는 2024년 3분기 재무 결과를 발표했습니다. 이 결과는 혼합된 성과를 보여줍니다. 2023년 3분기와 비교하여 총 수익은 4% 감소한 $1,551,696에 이르렀고, 구독 수익은 1% 증가하여 $1,411,166에 달했습니다. 이 회사는 전년 대비 EBITDA 성장을 35% 달성하여 $530,937 (총 수익의 34%)에 도달했습니다. 연초 대비 조정된 EBITDA는 43% 증가하여 $1,552,275에 이르렀습니다. 총 매출 총 이익률은 91%에서 88%로 약간 감소했습니다. 회사는 주식 재매입과 부채 감소를 위해 $175,000의 수익을 사용했으며, 운영 효율성과 현금 생성에 집중했습니다.

Ackroo (TSX-V: AKR; OTC: AKRFF) a annoncé ses résultats financiers pour le troisième trimestre 2024, montrant des performances mixtes. Bien que le chiffre d'affaires total ait diminué de 4% à 1 551 696 $ par rapport au troisième trimestre 2023, les revenus des abonnements ont augmenté de 1% pour atteindre 1 411 166 $. L'entreprise a enregistré une croissance significative de l'EBITDA de 35% d'une année sur l'autre, atteignant 530 937 $ (34% du chiffre d'affaires total). L'EBITDA ajusté depuis le début de l'année a augmenté de 43% pour atteindre 1 552 275 $. Les marges brutes ont légèrement diminué à 88% contre 91%. L'entreprise a utilisé 175 000 $ de bénéfices pour des rachats d'actions et la réduction de la dette, tout en se concentrant sur l'efficacité opérationnelle et la génération de trésorerie.

Ackroo (TSX-V: AKR; OTC: AKRFF) hat die Finanzzahlen für das 3. Quartal 2024 veröffentlicht, die eine gemischte Leistung zeigen. Während der Gesamtumsatz um 4% auf $1.551.696 im Vergleich zum 3. Quartal 2023 gesunken ist, stiegen die Abonnement-Einnahmen um 1% auf $1.411.166. Das Unternehmen erzielte ein signifikantes EBITDA-Wachstum von 35% im Jahresvergleich und erreichte $530.937 (34% des Gesamtumsatzes). Das angepasste EBITDA seit Jahresanfang stieg um 43% auf $1.552.275. Die Bruttomargen sanken leicht von 91% auf 88%. Das Unternehmen nutzte $175.000 an Gewinnen für Aktienrückkäufe und Schuldenabbau, während es sich auf operative Effizienz und Cash-Generierung konzentrierte.

Positive
  • 35% YoY increase in Q3 EBITDA to $530,937
  • 43% YoY increase in YTD adjusted EBITDA to $1,552,275
  • 1% growth in subscription revenue to $1,411,166
  • High gross margins maintained at 88%
  • Used $175,000 for share buybacks and debt reduction
Negative
  • 4% decrease in total Q3 revenue to $1,551,696
  • 6% decline in YTD total revenue to $4,732,352
  • 3% decrease in YTD subscription revenue to $4,297,734
  • Gross margins declined from 91% to 88% in Q3
  • Reduction in one-time revenues from card orders and setup fees

Ackroo delivers 35% YoY EBITDA growth representing 34% of total revenues

HAMILTON, Ontario, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider, has filed its financial results for the period ended September 30, 2024. The results for the period ended September 30th,2024 reflect a 1% increase in recurring revenues and a 4% decrease in total revenues over the same period in 2023. The Company delivered a 35% increase in EBITDA over the same period in 2023 representing 34% of total revenues which now has year to date adjusted EBITDA at $1,552,275, a 43% increase over the same period in 2023. Ackroo used $175,000 of their earnings towards share buy-backs and to pay down debt and continued to optimize their product and operations. The Company plans to continue their focus on earnings generation in order to continue to improve their balance sheet, pay down debt, buy back shares and to help fund future acquisitions.

The complete financial results for Ackroo, along with management’s discussion and analysis for the quarter ended September 30, 2024, are available under the profile for the Company at www.sedar.com. Highlights include:

Q3 2024 vs. Q3 2023:

 Q3 2023 TOTALSQ3 2023 TOTALS+/- % Change
Total Revenue$1,551,696$1,624,001(-4%)
Subscription Rev$1,411,166$1,396,732+ 1%
Gross Margins$1,357,831 (88%)$1,477,437 (91%)(-3%)
Adjusted EBITDA$530,937$394,155+ 35%
EBITDA % of Rev34%24%+ 10%


Nine Months Ended Sept 30, 2024 vs. Nine Months Ended Sept 30, 2023:

 YTD 2024 TOTALSYTD 2023 TOTALS+/- % Change
Total Revenue$4,732,352$5,060,328(-6%)
Subscription Rev$4,297,734$4,418,596(-3%)
Gross Margins$4,155,526 (88%)$4,636,809 (92%)(-4%)
Adjusted EBITDA$1,552,275$1,087,419+ 43%
EBITDA % of Rev33%21%+ 12%


“As we continue to explore strategic options for the Company we have continued our tight focus on operational efficiency and earnings generation to maximize cash generation,” said Steve Levely, CEO of Ackroo. “We see cash generation as a key focal point for the business so that we can pay down debt, buy back shares and overall increase the business value of Ackroo. We once again saw a decrease in one-time revenues from less card orders and new setup fees however we maintained our recurring revenues and increased our earnings substantially year over year delivering one of our best ever EBITDA quarters. At a time when inflation and interest rates are high we see our ability to continue to generate more cash while optimizing our product and operations becomes an important differentiator for Ackroo. On a year to date standpoint we are generating a great 33% of EBITDA as a percentage of revenue where as we head into our busiest quarter of the year we expect that trend to continue.”

About Ackroo

As an industry consolidator, Ackroo acquires, integrates and manages gift card, loyalty marketing, payment and point-of-sale solutions used by 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 acquisition of payment ISO’s affords Ackroo the ability to resell payment processing solutions to their growing merchant base through some of the world’s largest payment technology and service providers. As a third revenue stream Ackroo has acquired certain custom software products including hybrid management and point-of-sale solutions that 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.


FAQ

What was Ackroo's (AKRFF) Q3 2024 EBITDA performance?

Ackroo's Q3 2024 EBITDA grew 35% year-over-year to $530,937, representing 34% of total revenues.

How much revenue did Ackroo (AKRFF) generate in Q3 2024?

Ackroo generated total revenue of $1,551,696 in Q3 2024, a 4% decrease from Q3 2023.

What were Ackroo's (AKRFF) gross margins in Q3 2024?

Ackroo's gross margins in Q3 2024 were 88%, down from 91% in Q3 2023.

How much did Ackroo (AKRFF) spend on share buybacks and debt reduction in Q3 2024?

Ackroo used $175,000 of their earnings towards share buy-backs and debt reduction in Q3 2024.

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