Specialized
2 years ago
News Out!! $AKRFF
HAMILTON, Ontario, July 29, 2022 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended June 30, 2022. The results for the period ended June 30th, 2022 reflect 8% year over year revenue growth which now has year to date revenue growth at 14%. The Company achieved an 8% year over year increase in subscription revenue growth which now has year to date revenue growth at 17%. The Company also achieved $312,307 of positive adjusted EBITDA during the quarter representing a year over year increase of 594% and equates to 20% of total revenues. The Company expects these positive trends to continue as they execute on their renewed plans to consolidate, simplify and improve the merchant marketing, payments and point-of-sale industry.
The complete financial results for Ackroo, along with management’s discussion and analysis for the quarter ended June 30, 2022, are available under the profile for the Company at www.sedar.com. Highlights include:
Q2 2022 vs. 2021:
Q2 2022 TOTALS Q2 2021 TOTALS +/- % Change
Total Revenue $1,583,497 $1,469,357 + 8%
Subscription Rev $1,347,353 $1,250,299 + 8%
Gross Margins $1,496,716 (95%) $1,295,369 (88%) + 16% (+7%)
Adjusted EBITDA* $312,307 $45,026 + 594%
EBITDA % of Rev 20% 3% + 17%
H1 2022 vs. 2021:
H1 2022 TOTALS H1 2021 TOTALS +/- % Change
Total Revenue $3,139,992 $2,753,647 + 14%
Subscription Rev $2,700,840 $2,304,768 + 17%
Gross Margins $2,890,352 (92%) $2,419,064 (88%) + 19% (+4%)
Adjusted EBITDA* $537,273 $53,436 + 905%
EBITDA % of Rev 17% 2% + 15%
“We are very happy with the year over year growth and the continued strengthening of our business,” said Steve Levely, CEO of Ackroo. “Despite the capital markets struggling and the general economy in a volatile place our business continues to improve on many fronts. We are half-way through the year and have already exceeded 2021’s EBITDA results and are now back to our 20% EBITDA as a percentage of revenue we were at in 2020. We increased our cash position, delivered record gross margins, increased our average recurring revenue per location and reduced our cost to acquire. We have continued to clean up legacy technical debt from previous acquisitions that allowed more migrations to occur and better prepare us for the next acquisition we do. We have stabilized and expanded our POS offerings leading to growth from both of these solutions while also slowly increasing our Payments business revenues. We finished the quarter making several operational changes inside and outside of the business to better structure and align ourselves which has us poised for much bigger growth and earnings contributions in the quarters ahead.”
Ackroo also announces the resignation of Paul Hart as CFO of Ackroo effective immediately. The Company would like to thank Paul for his contributions to the Company and wish him the best of luck with his future endeavors.
About Ackroo
Through 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. 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 clubs, automotive dealers 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 Levely
Chief Executive Officer | Ackroo
Tel: 416-360-5619 x730
Email: 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 Statements
This 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.
*“Adjusted EBITDA” is a non-International Financial Reporting Standard (IFRS) measure, and does not have a standardized meaning prescribed by IFRS. Adjusted EBITDA is calculated as net income (loss) excluding interest, taxes, depreciation and amortization, or EBITDA, as adjusted for share-based compensation and related expenses and foreign exchange gains and losses. A complete reconciliation of this amount to net income (loss) for the corresponding period is available in managements’ discussion and analysis.
Specialized
2 years ago
News Out!!!! $AKRFF
HAMILTON, Ontario, May 27, 2022 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended March 31, 2022. The results for the period ended March 31st, 2022 reflect 21% year over year revenue growth, and a 28% increase in subscription revenue over the same period in 2021. The Company also achieved $224,965 of positive adjusted EBITDA during the quarter representing a year over year increase of 2,674% and equates to 14% of total revenues. The Company expects these positive trends to continue as they execute on their renewed plans to consolidate, simplify and improve the merchant marketing, payments and point-of-sale industry.
The complete financial results for Ackroo, along with management’s discussion and analysis for the quarter ended March 31, 2022, are available under the profile for the Company at www.sedar.com. Highlights include:
Q1 2022 vs. 2021:
Q1 2021 TOTALS Q1 2022 TOTALS +/- % Change
Total Revenue $1,284,289 $1,556,495 + 21%
Subscription Rev $1,054,468 $1,353,486 + 28%
Gross Margins $1,123,694 (88%) $1,393,636 (90%) + 24% (2%)
Adjusted EBITDA $8,413 $224,965 + 2,674%
EBITDA % of Rev <1% 14% + 13%
“I am very pleased with the solid start to the year and how poised we are for growth in 2022,” said Steve Levely, CEO of Ackroo. “Led by the year over year growth in our AckrooPOS business we are very encouraged by both the progress we have had internally as well as seeing our merchant clients’ businesses improving as well. It has been a long 2 years with Covid but we really are seeing light at the end of a long tunnel on a number of fronts. We are winning a greater amount of larger new customers, cross selling more current customers and doing a better job retention wise then we were a year ago. We are migrating more customers from old platforms to our new current ones and have continued our focus on balancing growth with earnings generation as we achieved double digit earnings as a percentage of revenue once again. We continued to make product enhancements and improve product parity from acquired legacy platforms and have some great new product releases coming later in the year to drive bigger organic growth. As the quarter closed off and we made changes at a board level, we also started back up several of our M&A and other strategic discussions so that we are poised for those opportunities in the second half of 2022. In all the company really is on very stable ground and is poised strategically and functionally for our best year yet.”
Specialized
2 years ago
News Out!!!
HAMILTON, Ontario, April 29, 2022 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to report audited annual revenues of $5,977,541 including $5,001,139 of annual recurring revenue for the period ended December 31st, 2021. This represents similar results from the previous year and a 9-year cumulative average growth rate of 30% per year since the Company’s founding in 2012. Over the year, the Company maintained their high recurring to one time revenue ratios, strong gross margins, and a reduction of customer saturation risks. 2021 saw an increase in the number of customers and the average revenue per location. The Company paid down debt, completed their 11th acquisition and delivered a fourth consecutive positive EBITDA year.
The complete financial results for Ackroo, along with management’s discussion and analysis for the year ended December 31, 2021, are available under the profile for the Company at www.sedar.com. Highlights include:
2021 quarterly results:
Q1 - March 31, 2021 Q2 - June 30, 2021 Q3 - September 30, 2021 Q4 – December 31, 2021 2021 TOTALS
Total Revenue $1,284,289 $1,469,357 $1,567,121 $1,656,775 $5,977,542
Subscription Rev $1,054,468 $1,250,299 $1,323,794 $1,372,578 $5,001,139
Gross Margins $1,123,694 (88%) $1,295,369 (88%) $1,381,224 (88%) $1,470,047 (89%) $5,270,334 (88%)
Adjusted EBITDA $8,413 $45,026 $179,936 $175,842 $409,217
EBITDA % of Rev < 1% 3% 11% 11% 7%
2021 annual results vs. 2020:
2020 TOTALS 2021 TOTALS
Total Revenue $6,047,576 $5,977,542
Subscription Rev $5,018,361 $5,001,139
Gross Margins $5,417,880 (89%) $5,270,334 (88%)
Adjusted EBITDA $1,638,587 $409,217
EBITDA % of Rev 27% 7%
“I am very pleased with what we maintained and what we improved on, despite the challenges we faced in 2021,” said Steve Levely, CEO of Ackroo. “The impact of COVID on Ackroo was delayed as we saw larger attrition then normal, COVID related customer write offs, and less one times sales than we expected. In the beginning of 2021, we reinvested our earnings into sales, marketing and product to help bolster our organic growth. However, by mid-year those investments were not paying off as quickly as we expected, so in an effort to maintain our operating efficiency, we swiftly made adjustments to our plan to reduce costs, which slowed growth, but led to much better earnings in the second half of 2021. We also were able to complete a small strategic acquisition in the US to continue our diversification of offerings. In the end, we still managed to deliver growth in our AckrooPOS business and were able to maintain our AckrooPAY customer base, however, our AckrooMKTG business saw a slight decline due to some large loyalty customer attrition. We continued to make product enhancements and improve product parity from acquired legacy platforms and are pleased with both our increased number of new clients and our strong upsell and cross sell efforts, which led to our increasing average revenue per client.
We have many learnings from 2021 that we have begun incorporating where I am confident with a few more tweaks and changes inside and around our business, we will be set for much bigger success in the years ahead. We are already encouraged by the progress in Q1 and I am pleased to highlight that we delivered approximately $1.53M of revenue while also completing several other strategic initiatives, which are setting us up for a solid 2022.”
Readers are cautioned that revenue figures for the three-month period ended March 31, 2022 are based on internally prepared estimates. Actual results may vary when interim financial statements for the period are compiled.
Disclosure in this news release contains certain non-GAAP financial measures which include: “annual recurring revenue”, “gross margins” and “adjusted EBITDA”. These measures are used by the Company to provide investors with supplemental information to measure operating performance and highlight trends in the business which may not otherwise be apparent. These measures should not be considered in isolation or as a substitute for analysis of the financial information of the Company reported under IFRS. For information on the derivation of these non-GAAP financial measures, readers are encouraged to review managements’ discussion and analysis for the year ended December 31, 2021.
About Ackroo
Through 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. 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 clubs, automotive dealers 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 Levely
Chief Executive Officer | Ackroo
Tel: 416-360-5619 x730
Email: slevely@ackroo.com
Specialized
2 years ago
News Out!!!
HAMILTON, Ontario, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended September 30, 2021. The results for the three-month period ended September 30, 2021 reflect 11% year over year revenue growth including 4% year over year subscription revenue growth. The Company also achieved their 15th consecutive positive Adjusted EBITDA quarter with $179,936 of positive Adjusted EBITDA representing 11% of total revenue. The revenue growth and Adjusted EBITDA improvement is driven by a return to pre-pandemic customer retention and continued normalization of acquired businesses.
“Q3 was a very good bounce back quarter for Ackroo” said Steve Levely, CEO of Ackroo. “After a challenging start to the year with greater attrition than we have historically seen, we are encouraged by our improved customer retention and expansion. Our key performance indicators are improving: our churn rate dropped back to our pre-pandemic rate of below 5% and our average revenue per location has returned to $98. Notably, we added several larger multi-location clients onto our MKTG platform as well as more AckrooPAY and AckrooPOS clients into our business. In addition, we added a new CFO and various new senior leaders to position Ackroo for continued financial and operational discipline as we execute on our organic and inorganic growth strategies. We continue to work on integrating our acquired businesses to generate further synergies from both a revenue and cost perspective and expect our organic business to continue to grow as well.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
Three-months ended
September 30, 2021
September 30, 2020
% change
Total Revenue
$1,567,121
$1,417,929
+ 11%
Subscription Revenue
$1,323,794
$1,270,418
+ 4%
Gross Margins
$1,381,224 (88%)
$1,277,542 (90%)
- 2%
Adjusted EBITDA
$179,936
$310,600
- 42%
About Ackroo
Through 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. 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 clubs, automotive dealers 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.
$AKRFF
Specialized
3 years ago
News Out!!!
HAMILTON, Ontario, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) (“Ackroo” or the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce that have added their 5,400th customer location. The Company now supports over 5,000 AckrooMKTG, 300 AckrooPOS and 130 AckrooPAY customer locations and growing. The Company managed to not only add several new clients to hit the location milestone but also had a record number of current customers upgrade their programs to addition products and services like digital gift cards where now over 300 clients are leveraging that product offering, an 80% increase over the previous year.
“We are very excited about the organic growth we delivered over the past few months,” said Steve Levely, CEO of Ackroo. “After a very challenging start to 2021 with much greater attrition then we typically see and less customer growth it was great to see us bounce back over the summer. We achieved good net location growth while also driving a record number of upsells across our customer base. Our ability to not only add new clients but cross sell and upsell additional products and services to our current clients is key to our organic growth success. Areas like our digital gift card, mobile and AckrooPAY solutions were the main drivers and so we are excited for the great results the team delivered and the momentum we plan to carry into the future.”
About Ackroo
Through 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 industries, including golf clubs, automotive dealers 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.
$AKRFF
Specialized
3 years ago
News Out!!!!
Ackroo achieves 14th consecutive positive EBITDA quarter
HAMILTON, Ontario, Aug. 05, 2021 (GLOBE NEWSWIRE) -- 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 period ended June 30, 2021. The results for the period ended June 30, 2021 reflect the Company’s 14th consecutive positive adjusted EBITDA quarter and includes a 2% increase in revenues over the same period the previous year. The Company has continued to maintain a strong 88% gross margin and an attractive revenue mix with 85% recurring in nature. Over the quarter, Ackroo acquired InterActive DMS and continued its re-investment into sales and marketing to drive additional organic growth in future quarters.
“We are encouraged with our continued progress as we finished our 5th quarter since COVID-19 lockdowns began” said Steve Levely, CEO of Ackroo. “Similar to Q1 we continued to see lower spend in one time revenue items and saw a higher attrition rate then previous years due to the various restrictions that still existed for many of our clients. Despite the challenging environment we have sustained our business and have continued to re-invest earnings into sales and marketing to drive much larger future organic growth. We also acquired InterActive DMS, our 11th acquisition. This strategic acquisition has doubled the number of AckrooPOS customers, increased our relevance in automotive, and expands our geographic reach further into the US. We are in a strong position to remain active and opportunistic with our M&A strategy while building a solid foundation for organic growth leading to great results in the quarters ahead.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
Revenue of $1,469,357 for the three-month period ended June 30, 2021 as compared to $1,440,625 for the three-month period ended June 30, 2020 (2% increase);
Subscription and Service revenue was $1,250,299 for the three-month period ended June 30, 2021 as compared to $1,220,994 for the three-month period ended June 30, 2020 (2% increase);
Positive adjusted EBITDA of $45,026 for the three-month period ended June 30, 2021, as compared to positive adjusted EBITDA of $292,631 for the three-month period ended June 30, 2020; (85% decline)
Gross profit margin of $1,295,369 (88%) for the three-month period ended June 30, 2021, as compared to $1,308,610 (90%) for the three-month period ended June 30, 2020 (2% decline).
$AKRFF
Specialized
3 years ago
News Out!!
Ackroo expands their AckrooPOS business and deepens industry expertise in automotive
HAMILTON, Ontario, May 21, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (the “ Company ” or “ Ackroo ”) (TSX-V: AKR) (OTC: AKRFF), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to announce that its wholly-owned subsidiary, Ackroo Canada Inc., has signed a definitive asset purchase agreement to acquire all of the assets of InterActive DMS (“IDMS”). IDMS provides cloud-based and on-premise dealer management software and web solutions to independent car dealers across the United States. The solutions are used by over 150 dealers and adds to Ackroo’s total automotive customer base across AckrooMKTG, AckrooPAY and AckrooPOS to over 750 clients in this vertical. The transaction represents Ackroo’s eleventh acquisition to date and the Company’s first point-of-sale software purchase in the automotive sector.
Total consideration for the acquisition is $900,000, which will be satisfied through a cash payment of $600,000 on closing and an additional $300,000 less any working capital adjustments due within 90 days. The transaction is expected to close on May 31 st , 2021. The Company is at arms-length from the Vendor, and no finders’ fees or commissions will be paid in connection with completion of the acquisition.
“Further expanding our AckrooPOS solution set is a key priority for our business,” commented Steve Levely, CEO of Ackroo. “As we continue to consolidate vendors for our clients, expanding the operational tools we have available to complement our marketing and payment solutions is a must. Similar to our first step into point-of-sale last fall with the acquisition of GGGolf, we have strategically acquired another powerful niche solution - this time in automotive. This is an area where we have had great success in loyalty and payments. We intend to cross sell these solutions and expand our wallet share across our customer base in Canada as well as our newly acquired customers in the US as part of this transaction. We are excited to be deepening our expertise in automotive and strategically expanding to the US.”
About InterActive DMS
InterActive DMS provides fast, user friendly software for used car dealers, motorcycle dealers, boat dealers and finance companies that manage all aspects of inventory, sales processing, forms printing, collections, custom management reports and electronic document scanning and storage. The company has been providing software technologies for independent dealerships since 1991, covering 46 different states across the US. For more information, visit: www.interactivedms.com .
About Ackroo
Through 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 industries, including golf clubs, automotive dealers 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 . $AKRFF
Specialized
3 years ago
News Out!! $AKRFF
HAMILTON, Ontario, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Ackroo Inc. (the “Company” or “Ackroo”) (TSX-V: AKR) (OTC: AKRFF), a loyalty marketing, payments and point-of-sale technology and services provider, is pleased to report unaudited record revenues of $6,069,966 for the year ended 2020. This represents a 16% increase over the previous year and an 8-year cumulative average growth rate of 34% per year since the Company’s founding in 2012. The Company delivered $5,028,931 of annual recurring revenue and their third consecutive positive EBITDA year. Strategically, Ackroo also increased the Company’s cash position significantly, retired all debts owing to SOFII, and completed three accretive acquisitions in marketing, payments and point-of-sale. Despite the impact of COVID-19, the Company delivered strong results and is well positioned for continued growth in 2021.
“2020 was a challenging year but also a very pivotal one for the Company,” said Steve Levely, CEO of Ackroo. “COVID-19 brought both personal and business challenges. Moving to a fully remote office was a simple change for the company, however lots of internal collaboration and engagement was impacted. We also saw significant attrition, primarily in retail, with close to 10% of our customer locations needing to terminate. However, with challenges also came lots of opportunity as we saw a very high demand for Ackroo’s digital products and significant growth in our M&A funnel leading to three strategic acquisitions in 2020. Through these three acquisitions we now have three distinct business units with marketing, payments and point-of-sale for niche markets. We introduced a 6th new board member to add M&A expertise into the Company while injecting $3,000,000 of capital to support short-term acquisition opportunities. We added more self-serve tools and insights for our customers in our core marketing platform while refining our cross-sell and upsell approach for our digital and payment solutions. We finished the year strong in Q4 with a record number of new organic clients signed and delivered record revenue. Thanks to continuous strong financial management we delivered our 3rd consecutive earnings positive year while avoiding any layoffs and without any government assistance. Through the various challenges and opportunities the Ackroo team pivoted and built an even stronger foundation for the business than we had a year earlier. I couldn’t be prouder of how well the team has performed and how bright the future is for our company and for our shareholders.”
The Company cautions that figures for revenue have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. The Company expects to complete its 2020 audit in April to confirm revenue figures, along with other financial results.
Ackroo has also granted incentive stock options to purchase 5,275,000 common shares to certain directors, officers and employees of the Company exercisable at a price of $0.225, for a period of 3 years. The option grant remains subject to the approval of the TSX Venture Exchange.
About Ackroo
Through 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.
Specialized
4 years ago
News Out!!!! I am not happy about the dilution but Mr. Shen has a history of producing winners. Time will tell. $AKRFF
Ackroo Inc.
Tue, October 20, 2020, 7:00 AM CDT
HAMILTON, Ontario, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, gift card and payments technology and services provider, is pleased to announce a non-brokered private placement of $3,000,000. The private placement will provide the Company with the capital to pursue future strategic acquisitions and to provide organic growth opportunities. Shen Capital Partners Inc. or an affiliated entity (“Shen Capital”) will be the lead investor with a minimum of $2,000,000 under this private placement.
In connection with the private placement, the Company will issue up to 25,000,000 units (each, a “Unit”) at a price of $0.12 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant, entitling the holder to purchase one additional common share of the Company (a “Warrant Share”) at a price of $0.18 per Warrant Share for a period of thirty-six (36) months from the date of the issuance. The warrants are subject to accelerated expiry in the event the closing price of the Company’s shares on the TSX Venture Exchange is $0.28 or more for 20 consecutive trading days on or after 18 months from the date of issuance. The Company may elect to pay finder’s fees to certain eligible persons who have introduce qualified investors to the Company.
In connection with the subscription from Shen Capital, upon closing of the private placement, the Company has agreed to grant Shen Capital the right to nominate one member to the Board of Directors, who shall initially be Francis Shen, and one board observer, who shall initially be Andrew Shen.
The private placement will be completed pursuant to available exemptions from prospectus requirements under applicable securities laws. All securities issued in the private placement will be subject to a statutory hold period ending four months and one day after issuance. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
Specialized
4 years ago
News Out!!!
Ackroo achieves 31% year-to-date YoY revenue and 102% year-to-date YoY EBITDA growth over 2019
HAMILTON, Ontario, July 30, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a loyalty marketing, gift card and payments technology and services provider, has filed its financial results for the period ended June 30, 2020. The results for the period ended June 30, 2020 reflect 26% year over year revenue growth from Q2 2019 and include a 49% increase in EBITDA over the same period in 2019. The Company also completed its ninth acquisition further expanding into payment services, made several product enhancements and efficiently managed through the challenging Covid-19 business climate with an even stronger balance sheet and business going into Q3.
“Q2 was a challenging quarter personally and professionally for all businesses,” said Steve Levely, CEO at Ackroo. “Moving to a remote work environment and having staff personally affected by the pandemic made this one of the more challenging quarters we have had. Layer in our customers, many of whom saw significant drops in their business and whose needs from Ackroo actually grew during the period created an interesting stress test on our people and our business. Our team worked harder than ever during the period providing even more digital marketing support as clients wanted to further engage and communicate with their customers. We began providing free access to our digital gifting product for those that weren’t already utilizing the tool to support remote purchasing. We continued to develop our platform by completing key pieces like adding our own Data Warehouse for BI and many new integrations to point of sale systems, and advancing our rules engine and merchant console interfaces to support our growing merchant needs. We had approximately 10% of our customers ask for our help with payment deferrals so lots of work between our finance team and our clients to support their strained cash flow demands. We also continued our strategic acquisition efforts closing our ninth acquisition with the purchase of BNA Smart Payments adding our first payment services portfolio. We managed to add over 70 new clients to our platform through our organic sales efforts and closed deals with our bank and our key lending partner to increase our cash position and access to cash in the event we needed it. We accomplished all of this and despite many customers spending less on one-time revenue items we saw only a 3% drop in revenues over Q1 and actually increased our earnings by 18% over Q1 in the process. Delivering these results coupled with the business momentum we saw at the end of June give us great confidence in the strength of our business and for what lies ahead.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
Total revenue of $1,440,625 for the three-month period ended June 30, 2020 as compared to $1,146,079 for the three-month period ended June 30, 2019 (26% growth);
Total revenue of $2,926,496 for the six-month period ended June 30, 2020 as compared to $2,234,861 for the six-month period ended June 30,2019 (31% growth);
Subscription and Service revenue was $1,220,994 for the three-month period ended June 30, 2020 as compared to $842,920 for the three-month period ended June 30, 2019 (45% growth);
Positive adjusted EBITDA of $292,631 for the three-month period ended June 30, 2020, as compared to positive adjusted EBITDA of $196,395 for the three-month period ended June 30, 2019 (49% increase);
Positive adjusted EBITDA of $541,605 for the six-month period ended June 30, 2020, as compared to positive adjusted EBITDA of $267,891 for the three-month period ended June 30, 2019 (102% increase);
Positive adjusted EBITDA as a percentage of total revenue increased to 19% for the six-month period ended June 30, 2020 as compared to 12% for the six-month period ended June 30, 2019 (7% increase);
Gross margins of $2,581,875 (88%) for the six-month period ended June 30, 2020, as compared to $1,869,811 (84%) for the six-month period ended June 30, 2019 (4% increase).
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4 years ago
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Ackroo adds business intelligence data services for their growing client list
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July 02, 2020 08:00 ET | Source: Ackroo Inc.
HAMILTON, Ontario, July 02, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a loyalty marketing, gift card and payments technology and services provider, is pleased to announce that they have launched Ackroo BI, Ackroo’s business intelligence data services product. As a data driven MarTech company, Ackroo now offers an end to end data solution that combines an Ackroo developed DataWarehouse for ingestion of ALL sales and transaction data, a storage and data transformation tool in order to process, store and sort the ingested information, plus an integrated data presentation and visualization tool for custom dashboards and reports. Clients can also choose to use their own visualization tool and just utilize Ackroo’s Enterprise DataWarehouse and leverage the Ackroo data engineering services team to support their data needs. The solution will provide Ackroo merchants a centralized and unified data set to better understand not just their loyalty and gift card data but ALL purchase data in order to make better marketing and business decisions and to truly understand ROI. For Ackroo this means even further differentiation in the marketplace and an additional revenue stream that the Company expects will have a significant impact on their organic growth in the years ahead.
“We are excited to formally launch the new Ackroo BI data service to our growing merchant base,” commented Steve Levely, CEO of Ackroo. “We were formally introduced to BI from our acquisition of IQ724 in July of 2019. One of the key drivers around that acquisition was the addition of adding advanced solutions like business intelligence to our growing mid to large market client base. As the need for data insight and analysis becomes more and more important, especially with larger brands, we saw this advancement as a clear differentiator from many of our peers while introducing a great value add to our clients. We spent the last year in collaboration with the Mobi724 team supporting IQ724’s developed DataWarehouse. However, during Q2 in the midst of the Covid shut downs, we focused on many product advancements, including a full re-build of this solution to improve on the previously built technology architecturally, and to allow integration with either our selected visualization and presentation tool or with the client's own selection. Many large brands have already selected and are working with visualization tools and so our value for them would be better collection, storage and transformation of data for those tools which would include integration to Ackroo’s loyalty and gift card data. With several current Ackroo/IQ724 clients already utilizing and seeing the benefit of these solutions, we are excited by the validation in the offering and our ability to further enhance and improve for our growing client list. Data really has become the most important resource in the world today and so these advancements become critical to Ackroo in order to continue to evolve with the ever-changing marketing and payments landscape and support our strategy to not only consolidate companies in our industry but also vendors for our merchants.”
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4 years ago
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HAMILTON, Ontario, April 29, 2020 (GLOBE NEWSWIRE) — Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company” or “Ackroo”), a loyalty marketing, gift card, and payments technology and services provider, has filed its financial results for the year ended December 31, 2019. The results for the year ended December 31, 2019 reflect 18% year over year revenue growth from 2018 and a 7-year cumulative average growth rate of 36% per year since inception in 2012. The results also include a 25% increase in subscription revenue and a 51% increase in EBITDA over 2018.
“2019 was a great year for the Company,” said Steve Levely, CEO at Ackroo. “We once again delivered double-digit year over year growth while continuing to improve our technology, services, and operations. We acquired and began integrating our largest acquisition to date in IQ724 which also introduced a new lending partner in BDC Capital who will help support more of our inorganic growth plans in the future. We launched AckrooPay adding value-added payment services for our growing client base to help further differentiate Ackroo while adding a new revenue stream for the Company. We now have a very stable business split evenly across Petroleum, Automotive, and Hospitality & Retail with a third of our revenues coming from small 1-4 locations businesses, a third medium 5-100 location businesses, and a third large 101+ location businesses. A healthy mix across both verticals and sizes. As we face the current pandemic, this diversification across industry and size and the general nature of our SaaS-based software business have been important for our ability to manage through the current challenges. It has allowed us to maintain all staff and continue to further develop and expand our technology and operations while also assisting our merchants where we can. The fundamentals we continued to improve on in 2019 and the work we are doing now through the current crisis will position us to emerge as an even stronger organization when business goes back to normal. Ackroo is poised now more than ever to continue to simplify, consolidate, and improve the fragmented loyalty marketing, gift card, and payments landscape and we are excited for what lies ahead.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
· Revenue of $5,233,227 for the year ended December 31, 2019 as compared to $4,435,019 for the year ended December 31, 2018 (18% growth);
· Subscription and Service revenue was $4,054,697 for the year ended December 31, 2019, as compared to $3,233,856 for the year ended December 31, 2018 (25% growth);
· Positive adjusted EBITDA of $614,034 for the year ended December 31, 2019, as compared to positive adjusted EBITDA of $406,427 for the year ended December 31, 2018 (51% increase);
· Positive adjusted EBITDA as a percentage of total revenue increased to 12% for the year ended December 31, 2019, as compared to 9% of total revenue for the year ended December 31, 2018 (3% increase)
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud-based multi-currency marketing platform to help attract, engage, and grow their customers while increasing their revenues and margins. Through a SaaS-based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing, data, and payment services to assist their merchants with utilizing Ackroo’s technology solution, to better understand and steer their customer’s behaviors, and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: 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 Statements
This 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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4 years ago
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HAMILTON, Ontario, April 03, 2020 (GLOBE NEWSWIRE) — Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, gift card and payments technology and services provider, is pleased to announce that its wholly-owned subsidiary, Ackroo Canada Inc., has entered into a definitive agreement with BNA Smart Payment Systems Ltd. (“BNA”), a value added electronic payments provider, under which the Company has acquired certain assets of BNA Smart Payments. Under the terms of the acquisition, the Company has acquired BNA’s software and hardware payment solutions and all related customer contracts representing between $35,000 and $40,000 of monthly recurring revenue spread across automotive, retail, hospitality and petroleum merchants.
In consideration for the acquisition, the Company has paid $200,000 and will pay 100% of the net residual payment commissions from BNA customers for the first 12 months and 50% of the net residual payment commissions for the following 12 months to BNA.
“The addition of BNA’s payment business is an exciting next step for Ackroo,” commented Steve Levely, CEO of Ackroo. “We introduced AckrooPay last summer with a focus on cross-selling/upselling our current customers with debit and credit services. We are continuing to create awareness with our current clients about this new service offering to add greater value for our clients while adding a new revenue stream for Ackroo. What we wanted to validate next was purchasing a payment portfolio to validate our ability to cross-sell/upsell our software solutions. We have been in discussions with a number of payment providers however BNA became the ideal portfolio for us to acquire first as their customer base stretches across all 4 merchant verticals Ackroo supports and their current primary acquiring partner is Global Payments, one of Ackroo’s two acquiring partners, allowing for a smooth transition to Ackroo. BNA is also the past sister company to KESM/LoyalMark whom we acquired in late 2017, so we are very familiar with both the leadership team and many of the clients, making this the obvious first payment related acquisition we do.
Although these are turbulent times for many business’ we continue to focus on how we can better support our merchants and grow our business so that when businesses go back to normal we will be ready to further support and grow with them. This acquisition helps further strengthen Ackroo which in turn will allow us to further assist our growing client base in the years ahead.”
“We are happy to have come to terms with Ackroo,” commented Matt Moore, President of BNA Smart Payments. “After selling the KESM/LoyalMark business to Ackroo a couple years ago we had plans to also divest of the payments business to Ackroo when they were ready. The payments industry continues to consolidate with software companies like Ackroo as the need for an omni-channel offering becomes critical for merchants. Now that they have fully launched AckrooPay we are excited for our customers to begin leveraging the breadth of offering Ackroo has to offer.”
About BNA Smart Payments
BNA Smart Payments Ltd. is a payment processing company for merchants across North America. With a focus on unparalleled customer service BNA provides certified credit and debit payment solutions from various different payment processors, serving industries such as automotive, general retail, restaurant, entertainment and professional services. For more information, visit www.bnasmartpayment.com.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: slevely@ackroo.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the 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.
Specialized
4 years ago
February 28, 2020 08:00 ET | Source: Ackroo Inc.
HAMILTON, Ontario, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, gift card and payments technology and services provider, and Resulto Développement Web Inc. (“Resulto”), an arms-length digital solution company providing web, inventory and loyalty marketing solutions, are pleased to announce that the two companies have signed a definitive agreement for the Company to acquire all of the assets relating to WinWin Marketing, Resulto’s hospitality and retail gift card and loyalty business. Under the terms of the agreement, Ackroo has acquired the WinWin Marketing software platform and all related customer contracts in order to assist Ackroo’s growth strategies via hospitality and retail.
In consideration for the acquisition, the Company has paid a one-time cash payment of $114,355.
“The addition of WinWin Marketing’s product and client portfolio further supports Ackroo’s ongoing strategy of simplifying and consolidating the loyalty marketing and payments landscape,” commented Steve Levely, CEO of Ackroo. “While we have plans to consolidate more complimentary businesses in the years ahead, we also plan to continue to acquire more direct competitors like WinWin Marketing. The acquisition adds more Quebec based hospitality and retail merchant clients within brands like Baton Rouge, Dejeuner Egg Style and Chaussures Fillion, adds integrations to various POS solutions like Lightspeed POS, Acomba and Shopify, and will add over $75,000 a year of revenue, and growing, in the process. For Resulto they will divest of these assets in order to focus on their core automotive and powersport business. A win for Resulto and for Ackroo.”
Martin Paquette, CEO of Resulto stated: “This transaction will allow our entire team to focus on optimizing our marketing solutions for dealers and manufacturers in the motor vehicle industries. I enjoyed collaborating with the Ackroo executive team to reach a satisfying agreement for both companies. We look forward to work with Ackroo to ensure the best possible transition for their new customers.”
About Resulto
Founded in 2014, Resulto specializes in integrated marketing solutions for the web, advertising, loyalty and customer experience in the powersports, automotive, recreational vehicle, agriculture, trailer, and trucking industries. Resulto’s headquarters are in Montreal, Canada and the company currently operates in the United States and Canada. For more information, visit www.resulto.ca.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 416.360.5619 x 730
Email: slevely@ackroo.com
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4 years ago
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Ackroo achieves 7-year CAGR of 36% with 18% year over year growth in 2019
HAMILTON, Ontario, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR), (OTC: AKRFF), a loyalty marketing, gift card and payments technology and services provider, is pleased to report unaudited record revenues of $5,227,429 for the year ended 2019. This represents an 18% increase over the previous year and a 7-year cumulative average growth rate of 36% per year since the Company’s founding in 2012. The Company also delivered its second consecutive positive EBITDA year, retired all debts owing to KESM, launched its first self-serve signup product on Clover, completed its seventh strategic acquisition, and launched Ackroo Pay, Ackroo’s payment services offering for merchants. The Company achieved all of these milestones making this the strongest year to date and putting the Company on track to reach the goal of 10,000 locations, and $10 million of annual gross revenues with 20% EBITDA by 2022.
“2019 was a great year for the Company and our shareholders,” said Steve Levely, CEO of Ackroo. “As a Company we continued to execute on our inorganic and organic growth strategies while maintaining operational and financial discipline. This allowed us to continue to improve our balance sheet and further position us for scale. Organically we made key advancements to our platform to support more point of sale integrations and to add more advanced business intelligence and digital marketing tools. Inorganically we acquired iQ724 from MOBI724 adding significant recurring revenue, over 400 merchant locations and intellectual property that will help us with current and prospective large clients in hospitality, retail and automotive. This acquisition was supported through our new relationship with BDC allowing us to deliver a non-dilutive, accretive acquisition. A model we plan to continue to leverage into the future. We continued to retain over 95% of our customers and closed out the year with strong year over year revenue and location growth while also seeing appreciation in our share price. Growing both our Company and the share price are top of mind to the Company, and we are excited to achieve both. We finished the year moving our head office from Ottawa to Hamilton consolidating 3 small offices into one large one. It really was a great year on many fronts for us and I am excited for an even bigger year in 2020.”
The Company cautions that figures for revenue have not been audited and are based upon calculations prepared by management. Actual results may differ from those reported in this release once these figures have been audited. The Company expects to complete its 2019 audit in April to confirm revenue figures, along with other financial results.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: slevely@ackroo.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the 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.
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4 years ago
More insider buying on the Canadian Market. $akrff
12/3/2019 4:24:16 AM
Text:
Amended Filing Amended FilingAs of 11:59pm ET December 2nd, 2019
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Dec 2/19 Dec 2/19 O'Connell, Wayne Direct Ownership Common Shares 10 - Acquisition in the public market 9,000 $0.195
Nov 29/19 Nov 27/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 100,000 $0.180
Nov 29/19 Nov 25/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 200,000 $0.190
Nov 20/19 Nov 20/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 34,000 $0.180
Nov 20/19 Nov 19/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.175
Nov 20/19 Nov 18/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 5,000 $0.170
Nov 20/19 Nov 13/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 11,000 $0.170
Nov 20/19 Nov 12/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.165
Nov 29/19 Sep 4/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market 13,500 $0.130
Sep 3/19 Aug 30/19 Donville, Jason Indirect Ownership Common Shares 10 - Acquisition in the public market
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4 years ago
News Out!!! Blow out Quarter!!! $AKRFF
MILTON, Ontario, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (“Ackroo” or the “Company”), a loyalty marketing, gift card and payments technology and services provider, has filed their financial results for the three months ended September 30, 2019 and is pleased to report quarterly revenues of $1,476,490 representing a 36% increase over the same period in 2018. The Company also achieved $250,208 of positive EBITDA during the period representing a 27% increase over the previous quarter and 54% over the same period in 2018. The revenue and earnings growth are primarily related to the Company increasing their subscription revenue by 44% over Q3 2018 which has led to an increased ratio of recurring revenue to one time revenue which is now at an all-time high of 78% of total revenues. The continued strong revenue and record earnings growth further validates the Company’s strategic plans and has the Company poised for a strong close to the year as they head into their busiest quarter.
“We achieved several key goals during the quarter” said Steve Levely, CEO at Ackroo. “We began integrating and normalizing the recent IQ724 acquisition while also further growing our organic business. We continued to grow our recurring revenues while further advancing our technology via digital marketing, big data and integrations to various point-of-sale solutions to expand our addressable market and product offering. We expanded our service offering by introducing debit and credit card payment services for our growing merchant base. We now have over 200 installations on Clover and have signed our first ever payment processing clients in the process. Most importantly despite the increased costs that are associated with the IQ724 acquisition that we will see for the first 2 quarters, we still delivered significant quarter over quarter and year over year earnings growth and delivered another cash flow positive quarter. We are now positioned to exceed our earnings goals for 2019 and are poised for an even bigger 2020 ahead.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
Sales of $1,476,490 for the three month period ended September 30th, 2019 as compared to $1,083,046 for the three month period ended September 30th, 2018 (36% growth);
Subscription revenue of $1,157,771 for the three month period ended September 30th, 2019 as compared to $803,843 for the three month ended September 30th, 2018 (44% growth);
Positive EBITDA from operations excluding stock based compensation was $250,208 for the three month period ended September 30th, 2019 as compared to $196,395 of positive EBITDA from the three month period ended June 30th, 2019 (54% growth);
Positive EBITDA from operations excluding stock based compensation was $518,098 for the nine month period ended September 30th, 2019 as compared to $323,728 of positive EBITDA from the nine month period ended September 30th, 2018 (60% growth);
Positive cash flow created was $391,929 for the nine month period ended September 30th, 2019 as compared to $6,659 of negative cash flow from the nine month period ended September 30th, 2018;
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Hamilton, Ontario, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: 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 Statements
This 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.
image: https://www.globenewswire.com/newsroom/ti?nf=Nzc1MjA1MiMzMjA2MjAyIzIwOTY3MjQ=
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5 years ago
News Out!!! $AKRFF
Ackroo launches AckrooPAY
AUGUST 12, 2019
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PRESS RELEASES
Ackroo adds payment processing services for their growing client list
OTTAWA, Aug. 12, 2019 (GLOBE NEWSWIRE) — Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (“Ackroo” or the “Company”), a loyalty marketing and gift card technology and services provider, is pleased to announce that they have launched AckrooPAY, Ackroo’s payment services product. As a soon to be registered ISO, Ackroo now offers in-store and online credit and debit transaction processing for their growing client list. Ackroo clients will now have a single point of contact to help them manage all of their primary merchant currencies like payment, gift card and loyalty and in turn will gain even more insight into the various spending patterns of their customers in order to better leverage the Ackroo platform for growth. For Ackroo, this means further differentiation in the marketplace and an additional revenue stream that the Company expects will have a significant impact on their organic growth in the years ahead.
“The addition of payment services is the next big strategic step in the evolution of Ackroo’s multi-currency marketing platform,” commented Steve Levely, Chief Executive Officer of Ackroo. “We have spent the last few years organically and inorganically improving the marketing aspect of our products and services to address the growing demand from our customers. Although we are committed to continuing to improve in this area it has become clear that we also needed to further advance the payments aspect of our solution as well by adding payment processing as a complement to our physical and digital gift card offering. As our industry continues to consolidate, offering an omni-channel solution for marketing and payment really is the path to growth that we believe will help us further differentiate in the marketplace and position us for scale. It’s an exciting advancement for our customers, our Company and our shareholders.”
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model, Ackroo provides an in-store and online automated solution to help merchants process loyalty, gift card and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their loyalty and gift card accounts. Ackroo also provides important marketing and payment services to assist their merchants with utilizing Ackroo’s technology solution and to provide a single point of contact for all of their primary merchant currencies. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: 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 Statements
This 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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OTTAWA OFFICE
62 Steacie Drive, Suite 201, Kanata, ON
1.888.405.0066
ackroo.com
HAMILTON OFFICE
530 North Service Rd, Unit #4, Grimsby, ON
1.888.405.0066
ackroo.com
2018 Ackroo Canada Inc.
EN | FR
Specialized
5 years ago
News Out!!! $AKRFF
OTTAWA, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (“Ackroo” or the “Company”), a loyalty marketing and gift card technology and services provider, has filed its financial results for the three months ended June 30, 2019 and is pleased to report revenues of $1,146,079 representing a 9% increase over the same period in 2018. The Company also achieved a record $196,395 of positive EBITDA during the quarter representing a 116% increase over the same period in 2018 and resulted in the Company’s first ever cash flow positive quarter. Ackroo delivered these results while also completing their 7th acquisition to date of IQ724 from Mobi724 positioning the Company for a strong second half of the year and continued success in the years ahead.
“We are very pleased with what we accomplished organically and inorganically in Q2” said Steve Levely, chief executive officer at Ackroo. “It is always challenging maintaining organic growth while executing on inorganic opportunities. We closed our largest acquisition to date revenue wise and still managed to deliver 9% year over year revenue growth organically further validating our ability to execute in both areas. We continued to grow our customer base with several key wins in areas like Petroleum and Hospitality and for the sixth straight quarter we delivered positive EBITDA. With our acquisition of IQ724 we now have expanded digital marketing and business intelligence options for our growing large account client base and are poised to add even more value added services in the quarters ahead. The Company truly is at an exciting inflection point as we continue to significantly improve our balance sheet and begin to scale.”
The complete financial results for Ackroo are available at www.sedar.com. Highlights include:
Sales of $1,146,079 for the three-month period ended June 30tt, 2019 as compared to $1,048,171 for the three-month period ended June 30th, 2018; (9% growth);
Subscription revenue of $842,940 for the three-month period ended June 30th, 2019 as compared to $804,038 for the three-month period ended June 30tt, 2018 (5% growth);
Gross Margins of $956,390 (84%) for the three-month period ended June 30th, 2019 as compared to $871,911 (83%) for the three-month period ended June 30th, 2018 (1% growth);
Positive EBITDA from operations excluding stock-based compensation was $196,395 for the three-month period ended June 30th, 2019 as compared to $91,082 for the three-month period ended June 30th, 2018; (116% growth)
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: 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 Statements
This 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.
Specialized
5 years ago
News Out!!! $AKRFF
May 09, 2019 16:36 ET | Source: Mobi724 Global Solutions Inc.
multilang-release
MONTREAL, May 09, 2019 (GLOBE NEWSWIRE) -- MOBI724 Global Solutions Inc. (“MOBI724” or the “Company”) (TSX-V:MOS) (OTCQB:MOBIF), a global Fintech company offering a fully integrated suite of multiple Card-Linked Offers and Rewards (“CLO&R”), Digital Marketing and Business Intelligence (“DMBI”) and Payment Solutions (“Payment”) announces that its wholly owned subsidiary, I.Q. 7/24 Inc. (“iQ724”), has entered into a definitive agreement (a “Transaction”) to sell certain assets associated with iQ724’s loyalty programs in the retail, hospitality and automotive sectors in both Canada and the USA (the “Targeted Accounts”) to Ackroo Inc. (“Ackroo”) (TSX-V:AKR), an arm’s length party.
Under the terms of the Transaction, iQ724 will continue to service certain globally strategic accounts and Ackroo will acquire the Targeted Accounts for an amount of $2,800,000. A non-refundable deposit of $100,000 was paid by Ackroo, in trust, at the signing of the definitive agreement and the balance of $2,700,000 will be paid in full at the closing of the Transaction. The parties have agreed to transition the Targeted Accounts from iQ724’s loyalty platform to Ackroo’s loyalty platform over the course of a 24-month period (the “Transition Period”). Under the terms of the agreement, iQ724 will retain all intellectual property rights pertaining to its loyalty platform, however, to ensure that the quality of the service to the Targeted Accounts remains unaffected by the Transaction, the parties have entered into various support agreements that run up to a term of 24-months in order to provide product support services pursuant to which iQ724 will transition the Targeted Accounts to Ackroo’s loyalty platform. In light of the various service agreements entered into with Ackroo and based on the average historical billings of the Targeted Accounts, management expects that the Transaction will result in an immediate decrease of approximately $90K per month in top line revenue. Management is fully confident, that the positive impact from focusing the Company’s resources on the scalable Fintech business, rather than on individual small and medium accounts, will generate more value for the shareholders in the medium and long term.
“When MOBI724 acquired iQ7/24, our main goal was the integration of iQ7/24’s sophisticated business intelligence and loyalty solutions platform with MOBI724’s all-in-one ecosystem” said Marcel Vienneau, CEO of MOBI724. “Having completed the integration and all its enhancements, MOBI724 can now offer its clients – payment cards issuers, and major accounts - a truly unique and comprehensive platform. The expansion of our operations in Latin America is experiencing very strong momentum. To ensure that our highly scalable Fintech business is provided with all of the Company's resources we must remain laser focused. The future of MOBI724 is providing Fintech and data intelligence and analytics solutions primarily to banks and payment processing networks, therefore this Transaction allows greater alignment of the Company’s activities with its strategic approach and business plan. MOBI724 and Ackroo are committed to working closely to ensure a seamless transition for the relevant iQ7/24 clients. The management and the Board of Directors of MOBI724 are confident, that the Transaction bodes well for our shareholders.”
“The acquisition of various iQ7/24 assets from MOBI724 is a great win for both organizations” said Steve Levely, Chief Executive Officer at Ackroo. “We are very focused on consolidating the fragmented gift card, loyalty and marketing services industry and so the addition of iQ724’s business only adds to our strategy for growth. For MOBI724 the divesture of the various iQ7/24 assets will allow them to better focus on their core business of card-linked offers and rewards. The acquisition truly is a win for both company’s customers, employees and shareholders.”
Completion of the Transaction remains subject to a number of conditions, including receipt of any required regulatory and shareholder approvals if required by the Exchange Policy, and such other closing conditions as are customary in transactions of this nature. While the parties expect the Transaction to close in Q2-2019, there can be no assurance that all of the closing conditions will be satisfied and that the Transaction will be completed as disclosed. The Transaction is carried out at arm’s length.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
About Mobi724 Global Solutions Inc.
“We enable smart transactions anywhere”
MOBI724, a global Fintech company, offers a fully integrated suite of multiple Card-Linked Offers and Rewards, Digital Marketing and Business Intelligence and Payment Solutions (including a mobile EMV compliant payment platform), which work with any payment card, on any mobile device and at any Point of Sale. MOBI724 provides turn-key solutions for card associations, card issuers, banks, retailers, manufacturers, offer providers, to create, manage, deliver and track and measure incentive campaigns worldwide in real time. The company captures value from big data to deliver seamless and personalized user experiences for the benefits of all parties in the ecosystem. MOBI724 headquarters are in Montreal, Canada, and the company presently has operations in North and Latin America, the Caribbean and Asia Pacific.
Legal Disclaimer
Certain statements in this document, including those which express management’s expectations or estimations with regard to the Company’s future performance, constitute “forward-looking statements” as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to the Company or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances.
Specialized
5 years ago
News Out!!!
OTTAWA, March 04, 2019 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a gift card, and loyalty marketing technology and services provider is pleased to announce it has secured $500,000 via a loan with Western Ontario Community Futures Development Corporation Association (WOCFDCA) through the Southern Ontario Fund for Investment in Innovation (SOFII). Under the terms of the loan Ackroo received the full $500,000 less legal costs on closing. The loan will bear an 8% interest rate over a 60 month term with interest only payments owed during the first 6 months and then 54 equal payments of interest and principal payments. The Company will use these proceeds to accelerate several marketing and product related initiatives.
“Gaining access to additional non-dilutive growth capital via a favorable lender like SOFII is an exciting win for the Company and our shareholders,” commented Steve Levely, Chief Executive Officer of Ackroo. “As we continue our next phases of growth leveraging debt is an important priority for the Company. In the past these facilities were not available to us without paying very high interest rates and closing costs while also providing warrant coverage. With the Company not only earnings positive but now also cash flow positive we are in a great position to service debt from lenders like SOFII which further amplifies the exciting inflection point the Company has reached. These funds and others we are pursuing will help us further accelerate our organic and inorganic growth plans and has us very poised for some exciting growth ahead. ”
“Ackroo has a powerful finance & marketing solution that helps business attract, engage and grow their customers while increasing revenues.” said David Penton, Director of the Southern Ontario Fund for Investment in Innovation (SOFII). “We are very excited to be a part of their success story.”
About SOFII
The Southern Ontario Fund for Investment in Innovation (SOFII) loan program supports high-growth, innovative small and medium-sized Enterprises (SMEs) in rural and urban communities by offering loans of $150,000 to $500,000 to support all aspects of growth challenges facing them.
SOFII loan fund acts as a catalyst for job creation, increased investment in and support for innovation and is one element in the emerging climate of support for high growth companies in Southern Ontario. Launched by the Government of Canada in July 2012, SOFII is supported through FedDev Ontario and is delivered by the Western Ontario Community Futures Development Corporation Association (WOCFDCA) and Community Futures Ontario East.
SOFII is a $40 million, self-sustaining fund available to eligible organizations across Southern Ontario. For more information about SOFII, please visit www.SOFII.ca.
About Ackroo
Ackroo provides merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: 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 Statements
This 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.$AKRFF
Specialized
6 years ago
More news out!! $AKRFF
OTTAWA, Oct. 03, 2018 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC:AKRFF) ("Ackroo" or the "Company"), a gift card and loyalty marketing technology and services provider, today announced that its gift card, loyalty and promotional currency application will be one of the first third-party applications released on First Data Canada's new Clover Flex app market. First Data Canada, a division of First Data Corporation (NYSE:FDC), recently launched the revolutionary android-based Clover Flex point of sale solution. This integration will allow any First Data Canada merchant who chooses to select or switch to Clover, the ability to download the Ackroo gift card, loyalty and promotional currency application at the click of a few buttons. These merchants will be able to setup and self-deploy themselves on Clover eliminating the need to contact Ackroo sales and operations staff, which will not only speed up the time to begin using Ackroo's application, but will also remove the setup costs associated today with using Ackroo's platform. The advancement is a big win for First Data merchants, but also a big win for Ackroo as they enter the self-serve sign up market for SMB merchants.
"Building a self-serve signup product for our growing SMB merchant base is a key priority for Ackroo," said Steve Levely, chief executive officer at Ackroo. "As we enter our next phases of growth, reducing the effort required to support the selling and on-boarding of small to medium sized merchants is important for the Company. Merchants that use Clover can access the Clover app marketplace to identify and download the Ackroo application and effectively self-deploy. Since merchants will self-setup they will avoid regular Ackroo setup fees and will have access to a free initial trial of the technology. We see value not only in redirecting our sales and operational efforts towards larger or more complex merchant types, but also in reducing the cost to switch to Ackroo by extending a freemium version of the product to merchants. This advancement combined with Ackroo being the first gift card and loyalty provider on Clover in Canada positions the Company and our partner First Data Canada for great success in the years ahead."
"We are thrilled to welcome Ackroo to the Clover Canada app marketplace as one of our first third-party apps and to satisfy our merchant's requirement to consume a leading gift and loyalty application via the Clover Flex device," said Brian Green, President at First Data Canada. "Our Clover Flex launch brings First Data's tremendous payments innovation to Canada. Flex is the first device to offer LTE, Wifi and counter-top capabilities all in a single device and to include smart technology for the consumption of apps that are important to business operators. Ackroo has been a well-regarded partner of First Data Canada for some time and is a great compliment to the Clover platform."
About First Data Canada
First Data Canada, a division of First Data Corporation (NYSE:FDC) makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company's 22,000 owner-associates are dedicated to helping companies, from start-ups to the world's largest corporations, conduct commerce every day by securing and processing more than 3,000 transactions per second and $2.4 trillion per year. For more information, visit: www.firstdata.ca.
About Ackroo
Ackroo provides automotive, petroleum, hospitality and retail merchants of all sizes a robust, cloud based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo's technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
For information, please contact:
Steve Levely
Chief Executive Officer | Ackroo
Tel: 613-599-2396 x730
Email: slevely@ackroo.com
Specialized
6 years ago
Here is the latest news: $AKRFF
OTTAWA, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (“Ackroo” or the “Company”), a gift card and loyalty marketing technology and services provider, has received approval from the Royal Bank of Canada (RBC) in cooperation with Export Development Canada (EDC) to increase their current revolving line of credit from $200,000 to $350,000. The increase is being underwritten by EDC following a review of the Company’s current financial position and its planned expansion into the United States. The facility bears an interest rate of RBC’s prime plus 2%.
“Expansion of our credit facilities are important next steps for Ackroo and our shareholders,” said Steve Levely, Chief Executive Officer at Ackroo. “Now that the Company is delivering positive EBITDA, we have many more options for accessing additional capital. Instead of relying on equity-based capital or other more expensive debt options to fund our growth, this facility offers non-dilutive capital with a favourable interest rate. We first looked to EDC to underwrite our increase in our line of credit because of our plans to further penetrate the US market. Today only 8% of our total revenues come from the US and we expect this number to more than double in the next 2 years. EDC’s mandate is to help Canadian companies expand into foreign markets and so we are very happy to receive their support. This is just the first small step in our relationship with EDC. As we begin this next chapter of Ackroo, leveraging these types of facilities will allow us to grow further and faster while protecting the interests of the Company and our shareholders.”
About Ackroo provides automotive, petroleum, hospitality and retail merchants of all sizes a robust, cloud-based multi-currency marketing platform to help attract, engage and grow their customers while increasing their revenues and margins. Through a SaaS-based business model Ackroo provides an in-store and online automated solution to help merchants process gift card, loyalty and promotional transactions at the point of sale, provide key administrative and marketing data, and to allow customers to access and manage their gift card and loyalty accounts. Ackroo also provides important marketing services to assist their merchants with utilizing Ackroo’s technology solution. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
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