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Reklaim Ltd. (MYIDF) is a leading platform that enables consumers to access, edit, and monetize their data directly with brands. Founded by Neil Sweeney, the company focuses on privacy-compliant data solutions, zero-party data, consumer empowerment, and compensation for data sharing.
The company recently achieved full-year profitability for Fiscal 2023 and Q4-2023, marking significant growth and operational success. With a strong financial performance, Reklaim is poised for sustained growth, innovation, and market leadership in 2024.
Reklaim provides a platform where consumers can view and control the data collected about them without explicit consent. They aim to give consumers ownership over their personal information and offer compensation through a Reklaim account.
Reklaim reported strong Q3 2024 financial results with revenue reaching $1,487,321, up 61% year-over-year. The company achieved positive EBITDA of $359,978, marking a 106% increase from Q3 2023. Nine-month revenue totaled $3,315,204, showing a 23% increase from 2023. Key performance metrics include improved gross margins at 82% for Q3, and positive year-to-date cash flow of $260,062, representing a 1020% increase compared to the prior year. The 'Deals' segment revenue surged by 3403% in Q3 2024. The company also converted $100,000 of debt into shares at $0.09 per share.
Reklaim (OTCQB: MYIDF) (TSXV: MYID) has announced a strategic debt reduction initiative, reducing its outstanding debt by approximately 11%. The company has agreed to satisfy $100,000 of indebtedness through the issuance of 1,111,111 common shares at a deemed price of $0.09 per share. This move follows a year of consistent profitability for Reklaim, including a positive EBITDA of $154,290 in Q2 2024.
The debt settlement aligns with Reklaim's commitment to enhance shareholder value and improve financial stability. All securities issued are subject to a statutory hold period of four months plus one day. The transaction requires final approval from the TSX.
Additionally, Reklaim has appointed Stuart Pasternak as its new CFO, bringing over 30 years of expertise in financial and strategic planning to the company.
Reklaim (TSXV: MYID) (OTC Pink: MYIDF), a leading platform for consumer data reclamation, has announced its participation in the 2024 Cantech Letter Investment Conference on October 9, 2024 in Toronto, Ontario. Neil Sweeney, Founder & CEO of Reklaim, will deliver an investor presentation and engage in one-on-one meetings with investors at the event.
The conference will take place at the Arcadian Loft, 8th floor, 401 Bay Street, Toronto, ON. Interested parties can register by contacting tara@cantechletter.com. More information is available at the Cantech Letter website.
Sweeney expressed enthusiasm about the opportunity, stating that the conference provides an excellent platform to strengthen connections within capital markets, enhance visibility, showcase achievements, and increase Reklaim's profile among investor communities.
Reklaim (TSXV: MYID) (OTC: MYIDF) has announced a Normal Course Issuer Bid (NCIB) to repurchase up to 7,789,020 of its common shares, representing 10% of its public float. The NCIB, approved by the TSX Venture Exchange, will run from September 30th, 2024, to September 30th, 2025. Reklaim believes this move will protect shareholder value amid growing demand for consumer data privacy solutions.
The company, which allows consumers to view, edit, add, and option their data to brands for direct compensation, currently has 116,738,379 common shares issued and outstanding. Purchases will be made through the TSXV or alternative Canadian trading platforms at prevailing market prices, with Clarus Securities Inc. acting as the broker for the NCIB. All repurchased shares will be canceled and returned to the treasury.
Reklaim (TSXV: MYID, OTC: MYIDF) reported strong Q2-2024 financial results, achieving positive EBITDA of $154,290 and record Q2 revenue of $1,099,696, a 5% increase year-over-year. The company's year-to-date positive cash flow from operations reached $258,350, significantly improving from $612 in the same period last year. Reklaim maintained robust gross margins at 80% and saw a 6% increase in Deals revenue for Q2 and a 31% increase year-to-date. These results highlight Reklaim's strategic growth, diversification of revenue streams, and operational efficiency. CEO Neil Sweeney emphasized the company's commitment to empowering consumers and driving innovation in the data privacy sector.
Reklaim (TSXV: MYID) (OTC: MYIDF) announced robust Q1 2024 results, with key financial metrics demonstrating significant improvement. Gross margins increased to 82%, up from 71% in Q1 2023, and the company achieved a positive cash flow from operations of $463,645, an increase of $595,814 over Q1 2023. The cash position rose to $554,618 as of March 31, 2024, compared to $57,806 on March 31, 2023. The company reported consistent revenue in line with expectations and growth in its 'Deals' revenue stream. CEO Neil Sweeney emphasized the company's focus on operational efficiencies and cost controls. Additionally, Dean Wood was appointed as the new CFO, succeeding Ira Levy.
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