Welcome to our dedicated page for Reklaim news (Ticker: MYIDF), a resource for investors and traders seeking the latest updates and insights on Reklaim stock.
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 (MYIDF) reported impressive Q3-2022 results, with revenue soaring 217% year-over-year to $1,642,380. Customer purchases of data increased 87%, contributing to a gross margin of 17%, up 142% from Q3-2021. The company also achieved a 90% recurring revenue rate for 2022 year-to-date. Overall, total revenue for FY2022 is projected to be 189% higher than in 2021. CEO Neil Sweeney emphasized the company's readiness to capitalize on privacy regulations, suggesting strong growth potential ahead.
Reklaim (MYIDF) has entered a non-binding letter of intent to acquire Multimedia Lists, Inc., a cash flow-positive data broker. The acquisition is expected to immediately double Reklaim's monthly revenue upon completion. The deal is contingent on due diligence, a definitive agreement, and approval from the TSX Venture Exchange. Reklaim aims to structure the transaction based on MML's EBITDA, including a performance earn-out over four years. This acquisition aligns with Reklaim's strategy to enhance services amidst evolving privacy legislation.
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