ZOOMD TECHNOLOGIES ANNOUNCED PRELIMINARY 4Q2021 FINANCIAL RESULTS HIGHIGHTED BY 181% YOY REVENUE GROWTH
Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) reported record preliminary financial results for Q4 and FY 2021, showcasing an 181% revenue growth year-over-year, leading to an $8.3M adjusted EBITDA increase. This performance was bolstered by increased marketing budgets from sectors like fintech, gaming, and ecommerce. CEO Ofer Eitan noted strong ROI for clients and positive outcomes from diversifying the client base and expanding into new markets. However, it's essential to note that these results are preliminary and subject to final audit.
- 181% year-over-year revenue growth in Q4 2021.
- $8.3M increase in adjusted EBITDA for FY 2021.
- Fifth consecutive quarter of growth in revenue and adjusted EBITDA.
- Preliminary financial results subject to change and not audited.
VANCOUVER, BC, March 7, 2022 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://www.zoomd.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, "Zoomd" or the "Company"), the marketing tech (MarTech) user-acquisition and engagement platform, today provided preliminary financial results for the fourth quarter and full year ended December 31, 2021. Record results for 4Q2021 and FY2021 which leads to
Management Commentary
"We are proud to have achieved another record quarterly revenues and adjusted EBITDA in 4Q21, being the fifth consecutive quarter of growth in both revenue and adjusted EBITDA" said Ofer Eitan, Zoomd's CEO, adding "the continued increase in our revenues is a testament to the strong ROI that our customers are witnessing from our technology and services. We enable greater time saving, results and efficiency with real-time control, which allows our partners to grow greatly and immediately by demand with limited additional resources."
Mr. Eitan concluded by noting that "Our team's focus on diversifying our client base by securing new customers, in sectors such as Ecommerce, iGaming, Gaming and Fintech, show fruitful results. Further, our growth initiatives to expand into new geographies, such as Latin America and Asia; as well as attracting large Fortune 500-type company customers, are all contributing to growth."
About Zoomd:
Zoomd (TSXV: ZOMD) (OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers' goals and targets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Information regarding the Company's future growth prospect and the preliminary unaudited financial results contained in this press release may constitute forward-looking-information within the meaning of securities laws. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The financial estimates provided in this press release is provided to provide early guidance on the fourth quarter and full year financial performance of the Company and readers are cautioned that this information may not be appropriate for any other purpose. In preparing the financial estimates, the Company completed an initial review of operations for the quarter ended December 31, 2021, however actual results may differ materially from the financial estimates provided in this press release as the financial outlook has not been audited or reviewed. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Other than as required under securities laws, we do not undertake to update this information at any particular time. Forward-looking information contained in this press release, including with respect to any future growth, is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.
CAUTION REGARDING FINANCIAL ESTIMATES
The financial estimates set forth above are based on an initial review of the Company's operations for the quarter ended December 31, 2021 and are subject to change. The Company's independent registered public accounting firm, Brightman Almagor Zohar & Co. (Deloitte Member Firm), has not audited, reviewed or performed any procedures with respect to the accompanying financial estimates and other data, and accordingly does not express an opinion or any other form of assurance with respect thereto. They should not be viewed as a substitute for audited financial statements prepared in accordance with generally accepted accounting principles and are not necessarily indicative of the Company's results for any future period.
CAUTION REGARDING NON-IFRS FINANCIAL MEASURES
This press release refers to "Adjusted EBITDA" which is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS. The Company's presentation of this preliminary financial measure may not be comparable to similarly titled measures used by other companies. This preliminary financial measure is intended to provide additional information to investors concerning the Company's estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, as adjusted for share-based payments, and is a measure of a company's operating performance. Essentially, it's a way to evaluate a company's performance without having to factor in financing decisions, accounting decisions or tax environments. The following table (all in $US thousands) shows the Company's Non-IFRS measure (Adjusted EBITDA) reconciled to operating profit for the indicated periods:
Q4 | Full Year | ||||
in $US thousands | 2020 | 2021 | 2020 | 2021 | |
ACTUAL
| ESTIMATED
| ACTUAL
| ESTIMATED
| ||
Operating profit (loss) | (806) | 2,002 | (5,248) | 2,946 | |
Adjustments | |||||
Depreciation and amortization | 627 | 681 | 2,472 | 2,643 | |
Cost of share-based payments | 35 | 19 | 175 | 142 | |
Total adjustments | |||||
Adjusted EBITDA | (144) | 2,702 | (2,601) | 5,731 | |
Management uses this non-IFRS measure as a key metric in the evaluation of the Company's performance and the consolidated financial results. The Company believes Adjusted EBITDA is useful to investors in their assessment of the operating performance and the valuation of the Company. However, non-IFRS financial measures are not prepared in accordance with IFRS, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. The references in this press release to Adjusted EBITDA are forward-looking information about prospective financial performance and readers are cautioned that this information may not be appropriate for other purposes.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com
Website: www.zoomd.com
Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix | Los Angeles
ZOMD@lythampartners.com
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SOURCE Zoomd Technologies Ltd.
