Ackroo releases 2020 Audited Financial Results achieving 16% YoY revenue and 167% YoY EBITDA growth
April 28 2021 - 7:00AM
Ackroo Inc. (the “
Company” or
“
Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a loyalty
marketing, payments and point-of-sale technology and services
provider, has filed its financial results for the year ended
December 31, 2020. The results for the year ended December 31, 2020
reflect 16% year over year revenue growth from 2019 and an 8-year
cumulative average growth rate of 34% per year since inception in
2012. The results also include a 24% increase in subscription
revenue and a 167% increase in EBITDA over 2019.
“We are very happy with our 2020 results and our
ability to manage through very difficult personal and corporate
challenges with Covid-19,” said Steve Levely, CEO at Ackroo. “I am
very proud of our success and perseverance this year despite the
obstacles our team has faced. We accomplished many things last year
with the addition of 2 new complimentary solutions in payment and
point-of-sale, the acquisition of 3 companies, and advancements to
our marketing platform. We began executing on several operational
enhancements to support our growth plans and added more executive
leadership and financial support through our expanded Board of
Directors. The company delivered growth in areas such as digital
gifting and marketing services and in our overall location count as
we now service over 1,500 clients across over 5,000 locations. We
achieved these milestones without any layoffs or government
assistance and delivered record revenue and earnings in the
process. To grow through these difficult times really does
emphasize the strength of our business and resilience of our team.
As we look to continue to consolidate, simplify and improve the
merchant marketing, payments and point-of-sale ecosystem I couldn’t
be more bullish on what lies ahead for our customers, our company
and our shareholders.”
The complete financial results for Ackroo are
available at www.sedar.com. Highlights include:
- Revenue of $6,047,576 for the year
ended December 31, 2020 as compared to $5,233,227 for the year
ended December 31, 2019 (16% growth);
- Subscription and Service revenue
was $5,018,361 for the year ended December 31, 2020 as compared to
$4,054,697 for the year ended December 31, 2019 (24% growth);
- Gross Profit Margin of $5,417,880
(89%) for the year ended December 31, 2020 as compared to
$4,307,009 (82%) for the year ended December 31, 2019 (7% margin
growth)
- Positive adjusted EBITDA of
$1,638,587 for the year ended December 31, 2020, as compared to
positive adjusted EBITDA of $614,034 for the year ended December
31, 2019 (167% increase);
- Positive adjusted EBITDA as a
percentage of total revenue increased to 27% for the year ended
December 31, 2020, as compared to 12% of total revenue for the year
ended December 31, 2019 (15% increase)
About AckrooThrough vendor and
industry consolidation, Ackroo provides marketing, payment and
point-of-sale solutions for merchants of all sizes. Ackroo’s
self-serve, data driven, cloud-based marketing platform helps
merchants in-store and online process and manage loyalty, gift card
and promotional transactions at the point of sale in order to
attract, engage and grow their customers while increasing their
revenues and margins. Ackroo’s payment services provide merchants
with low-cost payment processing options through some of the
world’s largest payment technology and service providers. Ackroo’s
hybrid management and point-of-sale solutions help manage and
optimize the general operations for niche industry’s including
golf, yacht, tennis clubs and more. All solutions are focused on
helping to consolidate, simplify and improve the merchant
marketing, payments and point-of sale ecosystem for their clients.
Ackroo is headquartered in Hamilton, Ontario, Canada. For more
information, visit: www.ackroo.com.
For further information, please contact:
Steve LevelyChief Executive Officer | AckrooTel:
416-360-5619 x730Email: slevely@ackroo.com |
|
The TSX Venture Exchange has neither approved
nor disapproved the contents of this press release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking StatementsThis
release contains forecasts and forward-looking statements that are
not guarantees of future performance and activities and are subject
to risks and uncertainties. The Company has based these
forward-looking statements on assumptions and assessments made by
its management in light of their experience and their perception of
historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors
that could cause actual results, developments and business
decisions to differ materially from those anticipated in these
forward-looking statements include, but are not limited to: the
Company’s ability to raise enough capital to support the Company’s
go forward plans; the overall global economic environment; the
impact of competition and new technologies; general market,
political and economic conditions in the countries in which the
Company operates; projected capital expenditures and liquidity;
changes in the Company’s strategy; government regulations and
approvals; changes in customers’ budgeting priorities; plus other
factors that may arise. Any forward-looking statements in this
press release are made as of the date hereof, and the Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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