Ionik Corporation - INIKF STOCK NEWS

Ionik (TSXV: INIK) (OTCQB: INIKF), a data-driven performance marketing technology company, has received TSX Venture Exchange approval to change its legal name from 'PopReach ' to 'Ionik ', effective November 26, 2024. The company will maintain its trading symbols 'INIK' on TSXV and 'INIKF' on OTCQB. The new CUSIP number is 462221102, with TSX Trust Company continuing as transfer agent. The name change doesn't affect company capitalization, and existing shareholders aren't required to take any action, though they may request replacement certificates if desired.

Ionik has acquired Rise4 for approximately US$19.9 million, combining cash, debt, and stock, plus potential earn-out considerations. Rise4, founded in 2022, is a performance marketing company with a 15-person team focused on user acquisition and search monetization. The transaction brings significant financial benefits, with Rise4 contributing US$19.5 million in net revenue and US$2.4 million in Adjusted EBITDA for 2023. The deal includes US$8.5 million in cash, US$9.5 million in vendor take-back debt, and 23 million Ionik common shares. An additional earn-out of up to US$25 million may be paid over five years based on performance.

PopReach (dba Ionik) (TSXV: INIK) (OTCQX: INIKF) has acquired Nimble5, a performance marketing company, for approximately US$33.7 million. The acquisition, funded through existing resources, expands Ionik's marketing technology platform. Nimble5, founded in 2016, specializes in omnichannel user acquisition and search engine marketing. Key benefits include:

1. Nimble5's meaningful Adjusted EBITDA and Adjusted Free Cash Flow
2. Synergistic performance marketing technology
3. Enhanced first-party data capabilities

The deal includes cash, debt, stock, and potential earn-out considerations. Nimble5's Adjusted EBITDA for 2023 was US$12.0 million. The transaction is subject to final TSX Venture Exchange approval.

Ionik (TSXV: INIK) (OTCQX: INIKF) reported record financial results for Q2 2024. Key highlights include:

- Revenue increased 26% year-over-year to $44.8 million
- Adjusted EBITDA grew 52% to $5.5 million
- Gross profit rose 20% to $16.7 million
- Net loss from continuing operations narrowed to $0.3 million
- Senior debt reduced by $2.8 million to $64.4 million

The company attributes growth to 2023 acquisitions and organic expansion. Cash flow from operations improved, allowing debt reduction. Ionik maintains a strong capital position with $6.8 million in cash and $40.8 million available credit. The company also announced the appointment of Jeff Collins as CFO, replacing Lois Norris.

Ionik announced the results of its annual general and special meeting of shareholders held on July 11, 2024. All agenda items were approved, including the election of five directors and the appointment of MNP LLP as auditors with 99.983% votes in favor. The omnibus equity incentive plan was also passed by 99.979% votes, subject to TSXV approval. A special resolution to change the company's name to Ionik received 99.995% approval and is pending regulatory approval. Additionally, a resolution to consolidate common shares was approved by 85.543% votes, with the board authorized to determine the consolidation ratio within a specified range. Voting results are available on SEDAR+.

Ionik (TSXV: INIK, OTCQX: INIKF) reported financial results for Q1 2024, showing significant growth. Revenue increased by 30% YoY to $42.3 million, and by 10% from the previous quarter. Gross profit rose to $14.4 million, while Adjusted EBITDA grew by 37% to $3.4 million. Operating cash flow was up by 230%, reaching $5.0 million, aiding a $2.8 million reduction in senior debt. Net loss decreased to $3.3 million from $4.3 million in Q1 2023. Cash on hand was $8.4 million as of March 31, 2024. Following quarter-end, Ionik sold its mobile games portfolio for up to $9.8 million. Total debt stood at $95.2 million, down from $98.0 million in December 2023.

Ionik Announces Record Fourth Quarter and Fiscal 2023 Results

Ionik, a data-driven performance marketing technology company, reported record quarterly Adjusted EBITDA of $5.0 million in Q4, with a year-over-year growth of 27.1% and quarter-over-quarter growth of 34.8%. Fiscal 2023 revenue reached $140.6 million, showcasing a 43.3% increase over the prior twelve months. The company also achieved a record gross profit of $55.5 million and an Adjusted EBITDA of $14.9 million in Fiscal 2023, marking a 51.3% growth compared to the previous year. Ionik's financial highlights for the fourth quarter of 2023 include revenue of $38.5 million, a 12.7% increase, gross profit of $17.5 million, and an Adjusted EBITDA of $5.0 million.

Management expressed optimism for the future, highlighting strategic acquisitions, cash generation, and progress on integration as key achievements. Ionik aims for record revenue and Adjusted EBITDA in 2024, focusing on organic growth, operational efficiency, and shareholder value enhancement.

Ionik announced the sale of substantially all of its mobile games portfolio, including its subsidiary PopReach India, to Phoenix Games Holdings UK for up to US$9.8 million. The sale allows Ionik to focus on its core advertising and marketing technology business while strengthening its balance sheet. Key terms of the transaction include an aggregate consideration of up to US$8.3 million for the sale of intellectual property rights in mobile games, with a Deferred Note of US$2.3 million. Additionally, the sale of shares of PopReach India to Phoenix for US$1.5 million was approved by the Board of Directors of Ionik, following the recommendation of a Special Committee of independent directors.