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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. reported its financial results for Q3 2021, showcasing an 11% year-over-year revenue growth, reaching $1,567,121. Subscription revenue also increased by 4% to $1,323,794. The company achieved its 15th consecutive positive EBITDA quarter, with Adjusted EBITDA of $179,936, constituting 11% of total revenue. Customer retention improved, reflected by a churn rate below 5%. Ackroo added larger multi-location clients and emphasized its focus on financial and operational discipline moving forward.
Ackroo has achieved a significant milestone by adding its 5,400th customer location, with over 5,000 AckrooMKTG, 300 AckrooPOS, and 130 AckrooPAY locations. The company also reported an 80% increase in clients utilizing digital gift cards, reaching over 300 clients. CEO Steve Levely noted a recovery in organic growth after a challenging start to 2021, emphasizing the success of upselling and cross-selling initiatives, particularly in digital gift cards and payment solutions. The company continues to develop cloud-based marketing solutions to bolster merchant revenues.
Ackroo (TSX-V: AKR, OTC: AKRFF) announced the appointment of Paul Hart as Chief Financial Officer, succeeding Derek Schaaf. Hart brings over 20 years of experience in finance, particularly in technology and payments sectors. He aims to leverage his expertise for Ackroo’s growth and M&A strategies. Schaaf, who served as CFO since 2016, is departing to relocate to the United States. CEO Steve Levely expressed gratitude for Schaaf's contributions during a challenging period for the company.
Ackroo Inc. held its Annual General Meeting (AGM) virtually on September 1, 2021, where shareholders approved all key proposals including the election of directors and the re-appointment of Grant Thornton LLP as auditor. Notably, 99% of votes favored the nominees. The elected directors include Steve Levely, Sam Cole, Wayne O’Connell, Kristaps Ronka, Jason Donville, and Francis Shen. The meeting also ratified the Company’s incentive stock option plan and allowed Shen Capital the potential to become a control person of Ackroo. Further details are available in the management proxy circular on SEDAR.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announced its annual general and special meeting of shareholders set for September 1, 2021, at 2:00 p.m. (ET) in a hybrid format. Shareholders can join via audio conference to engage with management and discuss the company's ongoing business. The management information circular detailing meeting matters was mailed to shareholders on July 28, 2021, and will be accessible on SEDAR. Ackroo specializes in marketing, payment, and point-of-sale solutions, aiming to enhance operations for various merchants.
Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported its financial results for Q2 2021, achieving its 14th consecutive positive adjusted EBITDA quarter. Revenue rose by 2% to $1.47 million, with recurring revenue constituting 85% of total revenue. The acquisition of InterActive DMS enhanced customer base and geographic reach. However, adjusted EBITDA fell by 85% to $45,026, and gross profit margin decreased to 88%. The company's focus remains on organic growth and M&A opportunities.
Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported a significant increase in US-based revenues, now representing over 10% of total revenues, marking a 50% increase from 2020. The company services nearly 1,800 clients across 5,300 locations in North America. To support this growth, Ackroo has hired sales operations consultants in Florida and is exploring partnerships to enhance its market presence. CEO Steve Levely emphasized US expansion as a key priority for the company.
Ackroo Inc. has successfully completed its first U.S.-based acquisition by acquiring InterActive DMS for a total of $900,000. This acquisition adds over 150 clients to Ackroo's existing portfolio, boosting its AckrooPOS business. The deal comprises an initial payment of $600,000 and a final payment of $300,000 due by August 31, 2021. IDMS offers cloud-based dealer management software to independent automotive dealers across the U.S., enhancing Ackroo’s service offerings and market reach.
Ackroo reports its financial results for Q1 2021, marking its 13th consecutive positive EBITDA quarter. Revenue stands at $1,284,289, a 14% decline from Q1 2020. Subscription revenue also decreased by 9% to $1,054,468. Despite the challenges posed by COVID-19, Ackroo achieved a positive adjusted EBITDA of $8,408. The company has successfully normalized the newly acquired GGGolf business, resulting in an 88% gross profit margin, up from 86% last year.
Ackroo Inc. announced its acquisition of InterActive DMS for $900,000, enhancing its AckrooPOS solution in the automotive sector. This strategic purchase is Ackroo's eleventh acquisition, increasing its automotive client base to over 750. The deal includes a cash payment of $600,000 at closing and an additional $300,000 within 90 days, subject to working capital adjustments. The acquisition is set to close by May 31, 2021, and aims to deepen Ackroo's expertise while expanding its operational tools for clients across Canada and the U.S.
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