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).
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