Ackroo Revenues up 37% from 2014
OTTAWA, April 27, 2016 /CNW/ - Ackroo Inc. (TSXV:
AKR) (OTC: AKRFF) ("Ackroo" or the "Company"), a gift card, loyalty
and rewards technology and services provider, has filed its
financial results for the year ended December 31, 2015.
The results for the year ended December
31, 2015 reflect year over year revenue growth of 37%,
subscription and service revenue growth of 52% and operating loss
reduction of 47% as compared to the previous year.
"2015 was a transformational year for Ackroo." said Steve Levely, chief executive officer at Ackroo.
"We started the year with the closing of a $1.2 million financing to allow the Company to
continue to execute our growth plans. That capital helped
fund our operations to support our organic growth which focused on
product development and optimizing our operations to better support
our channels. The funds also allowed us to leverage that
capital to complete our first 2 acquisitions in 2015. A big
transformational step for Ackroo was our move to strategic
acquisitions which these funds enabled us to begin. The first
acquisition was a complimentary company in PhotoGIFTCARD which
added product functionality we plan to continue to further develop
and also a merchant base that we are transitioning into our core
product offering. The second was a direct competitor in
Dealer Rewards Canada where we not only were able to remove a
competitor from the marketplace we gained great customers, product
ideas and operational talent for the Company. We continued
our cost reductions in the business both from an HR and operating
cost perspective and combined with both our organic and inorganic
growth we delivered our best year in Company history. We are
very proud of the progress the business has made and we believe we
have positioned the Company for even bigger success in 2016 so we
look forward to a very exciting year ahead."
The complete financial results for Ackroo are available at
www.sedar.com. Highlights include:
- Revenue of $1,822,224 for the
year ended December 31, 2015 as
compared to $1,328,166 for the year
ended December 31, 2014 (37%
growth);
- Revenue of $601,758 for the
quarter ended December
31st, 2015 as compared to $350,260 for the quarter ended December 31, 2014 (72% growth);
- Subscription and service revenue of $1,497,813 for the year ended December 31, 2015 as compared to $986,511 for the year ended December 31, 2014 (52% growth);
- Loss from operations before depreciation, amortization, and
stock based compensation was $853,021
($753,021 for 2015 + $100,000 accrued for previous years potential
SRED reversal) for the year ended December
31, 2015, as compared to $1,608,162 for the year ended December 31, 2014 (47% reduction); and
- Comprehensive loss of $1,597,682
for the year ended December 31, 2015
as compared to a comprehensive loss of $2,810,292 for the year ended December 31, 2014 (43% reduction).
About Ackroo
Ackroo provides gift card and loyalty solutions into the
$160 billion North American gift card
and loyalty market. Their solutions enable businesses, merchants
and business networks to increase profitability and build long-term
customer relationships through customized gift card and loyalty
programs. Ackroo's web-based solutions provide the power of a
massively scalable software platform in a lightweight online tool
that works with existing point-of-sale equipment, making it
easy and affordable for businesses to launch gift card &
loyalty programs that deliver immediate return on investment.
Ackroo is headquartered in Ottawa,
Canada. For more information, visit: www.ackroo.com.
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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.
SOURCE Ackroo Inc.
