VANCOUVER, BC, March 7, 2022 /CNW/ -- 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 $8.3M adjusted EBITDA increase
YOY, these record results were driven by the continued material
increase in marketing budgets allocated to Zoomd, most notably from
the fintech, gaming and ecommerce sectors.
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
SOURCE Zoomd Technologies Ltd.