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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 Inc. (TSX-V: AKR; OTC: AKRFF) has successfully paid off over $650,000 of debt during Q3 2022 from current cash flows, indicating a move towards a cash flow positive position. The company aims to reduce its debt-to-earnings ratio to below 3:1 while focusing on driving earnings growth. This debt repayment strategy is expected to save over $75,000 annually due to lower interest rates, which remain locked at 7.5%. CEO Steve Levely emphasized the importance of cash generation and a multi-tiered capital allocation plan for improved balance sheet management.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has announced its annual general and special meeting of shareholders set for October 6, 2022, at 2:00 p.m. ET. The hybrid meeting allows shareholders to participate via a live audio conference or in-person at Ackroo's head office. Management will discuss company operations and answer questions from attendees. Detailed information regarding the meeting will be provided in a management information circular sent to shareholders of record as of September 1, 2022, and accessible on SEDAR.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) reported an 8% year-over-year revenue growth for Q2 2022, with total revenues reaching $1,583,497. The subscription revenue grew 8%, totaling $1,347,353. The company achieved a significant 594% increase in adjusted EBITDA to $312,307, representing 20% of total revenues. Year-to-date, revenues grew 14%, and subscription revenues increased 17%. Despite economic challenges, Ackroo expects to continue this positive trend as it streamlines operations to foster future growth.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has appointed four new members to its Board of Directors, including Jeremy Jagt, Brad French, Jon Clare, and Philippe Bergeron-Belanger. Wayne O’Connell will step down to allow for these appointments. The new board members bring extensive experience in finance, M&A, and technology. CEO Steve Levely emphasized the importance of this reconstitution for Ackroo's future growth. Additionally, the company granted incentive stock options to purchase 1,000,000 common shares at $0.085, pending TSX Venture Exchange approval.
Ackroo reported strong financial results for Q1 2022, revealing 21% year-over-year revenue growth, totaling $1,556,495. Notably, subscription revenue surged by 28% to $1,353,486. The company achieved a remarkable 2,674% increase in adjusted EBITDA, reaching $224,965 or 14% of total revenue. Ackroo aims to enhance merchant marketing and point-of-sale services, focusing on growth and earnings generation. CEO Steve Levely expressed optimism about the company's trajectory amidst ongoing strategic initiatives.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announced a change in its Board of Directors, with Francis Shen, Jason Donville, and Kristaps Ronka stepping down immediately. CEO Steve Levely emphasized that the board restructuring aims to align with the company's strategic direction for future growth. New board members with relevant skills are expected to be announced soon. Ackroo provides marketing, payment, and point-of-sale solutions to merchants, focusing on enhancing their operational efficiency and customer engagement.
Ackroo Inc. reported audited annual revenues of $5,977,541 for the year ended December 31, 2021, with $5,001,139 from recurring revenue, which reflects stable performance year-over-year. The company achieved a 30% average growth rate since 2012. Key highlights include a fourth consecutive year of positive EBITDA, a reduction in customer saturation risks, and an increase in average revenue per location. The CEO expressed optimism about future growth after navigating challenges related to COVID-19. The full financial results are accessible on SEDAR.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has signed an exclusive reseller agreement with Buz Club Software to market their club management platform in Canada. This partnership aims to enhance product offerings for both companies, combining capabilities from Ackroo's GGGolf platform with Buz’s solutions, which are currently used by over 120 clubs in the U.S. The collaboration focuses on creating a comprehensive solution for golf clubs, featuring integrated accounting and point-of-sale services, intending to capture a larger market share.
Ackroo (TSX-V: AKR; OTC: AKRFF) reported unaudited quarterly revenues of $1,657,915 for Q4 2021 and annual revenues of $5,978,683, maintaining year-over-year performance. The company achieved a 9-year average growth rate of 30% annually and $4,979,357 in annual recurring revenue. Following a challenging start due to COVID-related customer attrition, Ackroo adapted operations and gained a 29% increase in clients compared to Q1. The company also appointed MNP LLP as its new auditor and granted stock options for 900,000 common shares.
Ackroo Inc. (TSXV:AKR, OTC PINK:AKRFF) announced its participation in the SNN Network Canada Virtual Event on December 8, 2021, at 10:30 AM EST. CEO Steve Levely will present for 30 minutes, addressing investor questions and offering one-on-one meetings afterward. Interested investors can join the presentation via the provided webcast link after registering for the event. The company's innovative marketing and payment solutions cater to diverse merchants, enhancing their operations.
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