Adcore Reports First Quarter 2025 Results
Adcore (ADCOF) reported its Q1 2025 financial results, highlighting strong performance in the APAC region with 85% growth to CAD$3.9 million. Overall revenue increased 2% to CAD$7 million, with gross profit at CAD$3.1 million and a 44% gross margin. The company's MediaBlast application showed remarkable growth, reaching $2.33M in ARR, a 292% year-over-year increase.
Despite macroeconomic challenges in EMEA and North America, Adcore achieved positive Adjusted EBITDA of CAD$208 thousand and improved operating cash flow to CAD$263 thousand. The company maintained a strong financial position with CAD$10.6 million in cash. Adcore is preparing to launch Proposaly, a new product designed to unify and automate sales workflow, while focusing on strategic hiring in high-growth regions.
Adcore (ADCOF) ha riportato i risultati finanziari del primo trimestre 2025, evidenziando una forte crescita nella regione APAC con un aumento dell'85% a 3,9 milioni di CAD. I ricavi complessivi sono cresciuti del 2%, raggiungendo 7 milioni di CAD, con un utile lordo di 3,1 milioni di CAD e un margine lordo del 44%. L'applicazione MediaBlast dell'azienda ha mostrato una crescita notevole, raggiungendo 2,33 milioni di dollari in ARR, con un incremento del 292% rispetto all'anno precedente.
Nonostante le sfide macroeconomiche nelle regioni EMEA e Nord America, Adcore ha ottenuto un EBITDA rettificato positivo di 208 mila CAD e ha migliorato il flusso di cassa operativo a 263 mila CAD. L'azienda ha mantenuto una solida posizione finanziaria con 10,6 milioni di CAD in liquidità. Adcore si sta preparando a lanciare Proposaly, un nuovo prodotto progettato per unificare e automatizzare il flusso di lavoro delle vendite, concentrandosi nel contempo su assunzioni strategiche nelle regioni ad alta crescita.
Adcore (ADCOF) presentó sus resultados financieros del primer trimestre de 2025, destacando un fuerte desempeño en la región APAC con un crecimiento del 85% hasta 3,9 millones de CAD. Los ingresos totales aumentaron un 2%, alcanzando 7 millones de CAD, con un beneficio bruto de 3,1 millones de CAD y un margen bruto del 44%. La aplicación MediaBlast de la compañía mostró un crecimiento notable, alcanzando 2,33 millones de dólares en ARR, un aumento interanual del 292%.
A pesar de los desafíos macroeconómicos en EMEA y Norteamérica, Adcore logró un EBITDA ajustado positivo de 208 mil CAD y mejoró el flujo de caja operativo a 263 mil CAD. La empresa mantuvo una sólida posición financiera con 10,6 millones de CAD en efectivo. Adcore se está preparando para lanzar Proposaly, un nuevo producto diseñado para unificar y automatizar el flujo de trabajo de ventas, mientras se enfoca en contrataciones estratégicas en regiones de alto crecimiento.
Adcore(ADCOF)는 2025년 1분기 재무 실적을 발표하며 APAC 지역에서 85% 성장한 390만 캐나다 달러의 강력한 성과를 강조했습니다. 전체 매출은 2% 증가한 700만 캐나다 달러를 기록했으며, 총이익은 310만 캐나다 달러, 총이익률은 44%였습니다. 회사의 MediaBlast 애플리케이션은 놀라운 성장을 보여주며 연간 반복 수익(ARR) 233만 달러로 전년 대비 292% 증가를 달성했습니다.
EMEA와 북미 지역의 거시경제적 어려움에도 불구하고 Adcore는 20만 8천 캐나다 달러의 조정 EBITDA 흑자를 기록하고 영업 현금 흐름을 26만 3천 캐나다 달러로 개선했습니다. 회사는 1,060만 캐나다 달러의 현금을 보유하며 견고한 재무 상태를 유지하고 있습니다. Adcore는 판매 워크플로를 통합하고 자동화하기 위해 설계된 신제품 Proposaly 출시를 준비 중이며, 고성장 지역에서 전략적 채용에 집중하고 있습니다.
Adcore (ADCOF) a publié ses résultats financiers du premier trimestre 2025, mettant en avant une forte performance dans la région APAC avec une croissance de 85% atteignant 3,9 millions de CAD. Le chiffre d'affaires global a augmenté de 2% pour atteindre 7 millions de CAD, avec un bénéfice brut de 3,1 millions de CAD et une marge brute de 44%. L'application MediaBlast de la société a connu une croissance remarquable, atteignant 2,33 millions de dollars en ARR, soit une augmentation de 292% par rapport à l'année précédente.
Malgré les défis macroéconomiques en EMEA et en Amérique du Nord, Adcore a enregistré un EBITDA ajusté positif de 208 000 CAD et a amélioré son flux de trésorerie opérationnel à 263 000 CAD. L'entreprise a maintenu une solide position financière avec 10,6 millions de CAD en liquidités. Adcore se prépare à lancer Proposaly, un nouveau produit conçu pour unifier et automatiser le flux de travail des ventes, tout en se concentrant sur des recrutements stratégiques dans les régions à forte croissance.
Adcore (ADCOF) veröffentlichte seine Finanzergebnisse für das erste Quartal 2025 und hob dabei eine starke Leistung in der APAC-Region mit einem Wachstum von 85% auf 3,9 Millionen CAD hervor. Die Gesamterlöse stiegen um 2% auf 7 Millionen CAD, mit einem Bruttogewinn von 3,1 Millionen CAD und einer Bruttomarge von 44%. Die MediaBlast-Anwendung des Unternehmens verzeichnete ein bemerkenswertes Wachstum und erreichte 2,33 Mio. USD im ARR, ein Anstieg von 292% gegenüber dem Vorjahr.
Trotz makroökonomischer Herausforderungen in EMEA und Nordamerika erzielte Adcore ein positives bereinigtes EBITDA von 208.000 CAD und verbesserte den operativen Cashflow auf 263.000 CAD. Das Unternehmen hält eine starke Finanzposition mit 10,6 Millionen CAD in bar. Adcore bereitet die Einführung von Proposaly vor, einem neuen Produkt zur Vereinheitlichung und Automatisierung des Vertriebsworkflows, und konzentriert sich dabei auf strategische Einstellungen in wachstumsstarken Regionen.
- APAC revenue grew 85% YoY to CAD$3.9M
- MediaBlast ARR reached $2.33M, showing 292% YoY growth
- Operating cash flow improved significantly to CAD$263K from CAD$13K YoY
- Strong cash position of CAD$10.6M, representing 33% YoY increase
- Overall revenue growth limited to 2% YoY
- Gross margin declined slightly to 44% from 45% YoY
- Operating loss increased to CAD$254K from CAD$168K YoY
- Macroeconomic challenges affecting EMEA and North America performance
Continued Strength in the APAC Market with Growth Eclipsing
(All figures in CAD unless otherwise stated)
TORONTO, ON / ACCESS Newswire / May 15, 2025 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ),a global leader in marketing technology empowering businesses to maximize their digital marketing potential with its innovative AI-powered platform ("Marketing Cloud"), today announced its financial results for the three months ended March 31, 2025.
Omri Brill, CEO and Founder of Adcore, commented, "We entered 2025 with strong momentum carried over from APAC's standout 2024 performance delivering
Mr. Brill continued, "Q1 is typically our softest quarter, yet we've emerged from it in our strongest financial position to date with a
First Quarter Highlights:
Revenue for the three months ended March 31, 2025, was CAD
Gross profit for the three months ended March 31, 2025, was CAD
Gross margin for the three months ended March 31, 2025, was
Adjusted EBITDA for the three months ended March 31, 2025 was CAD
APAC revenue for the three months ended March 31, 2025, was CAD
Working Capital for the three months ended March 31, 2025 was CAD
Net cash flow generated by operating activities for the three months ended March 31, 2025, amounted to CAD
Our MediaBlast application maintained its strong momentum, reaching
CONFERENCE CALL AND WEBCAST INFORMATION
Adcore will host a webcast and conference call to discuss those results on Thursday May 15, 2025, at 10:00 a.m. ET.
To register for the conference call/webcast please click here or visit: https://investors.adcore.com/Q12025.
The conference call will include a brief statement by management and will focus on answering questions about Adcore's results. Questions regarding results can be sent in advance to invest@adcore.com.
USE OF NON-IFRS MEASURES
Management uses Adjusted earnings before interest, income taxes, depreciation, and amortization ("Adjusted EBITDA") as a key financial metric to evaluate Adcore's operating performance and for planning and forecasting future business operations. Adjusted EBITDA excludes significant items that are non-operating in nature in order to evaluate Adcore's core operating performance against prior periods. Adjusted EBITDA is not a measure of financial performance under GAAP and should be considered in addition to, and not as a substitute for net earnings, overall change in cash or liquidity of the business as a whole. Management believes the use of Adjusted EBITDA allows investors and analysts to understand the results of the continuing operations of the Company.
ADCORE INC.
ADJUSTED EBITDA
(Express in CAD Thousands)
Three Months Ended | ||||||||
March 31, 2025 | March 31, 2024 | |||||||
Operating (loss) profit | (254 | ) | (168 | ) | ||||
Depreciation and amortization | 446 | 344 | ||||||
Share-based payments | 2 | 25 | ||||||
Other non-recurring items | 14 | - | ||||||
Total Adjustments | 462 | 369 | ||||||
Adjusted EBITDA | 208 | 201 | ||||||
ADCORE INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Express in CAD Thousands)
Three Months Ended | ||||||||
March 31, 2025 | March 31, 2024 | |||||||
Revenue | 7,011 | 6,866 | ||||||
Cost of revenues | 3,927 | 3,760 | ||||||
Gross profit | 3,084 | 3,106 | ||||||
Research and development, net | 568 | 612 | ||||||
Selling, general and administrative expenses | 2,770 | 2,662 | ||||||
Operating profit (loss) | (254 | ) | (168 | ) | ||||
Finance expense | 116 | 230 | ||||||
Finance income | (169 | ) | (30 | ) | ||||
Taxes on income | 1 | 31 | ||||||
Net Profit (loss) | (202 | ) | (399 | ) | ||||
Basic loss per share attributable to shareholders | (0.003 | ) | (0.005 | ) | ||||
Diluted loss per share attributable to shareholders | (0.003 | ) | (0.005 | ) | ||||
ADCORE INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in CAD Thousands)
March 31, 2025 | December 31, | |||||||
CURRENT ASSETS: | ||||||||
Cash and cash equivalents | 10,626 | 10,803 | ||||||
Trade accounts receivable, net | 4,016 | 6,561 | ||||||
Other accounts receivable | 541 | 624 | ||||||
Total current assets | 15,183 | 17,988 | ||||||
NON-CURRENT ASSETS: | ||||||||
Property, plant and equipment, net | 1,257 | 1,306 | ||||||
Intangible assets, net | 4,120 | 4,137 | ||||||
Total non-current assets | 5,377 | 5,443 | ||||||
Total assets | 20,560 | 23,431 | ||||||
CURRENT LIABILITIES: | ||||||||
Trade accounts payable | 5,717 | 8,156 | ||||||
Other accounts payable | 2,175 | 2,355 | ||||||
Lease liability | 196 | 200 | ||||||
Total current liabilities | 8,088 | 10,711 | ||||||
NON-CURRENT LIABILITIES: | ||||||||
Accrued severance pay, net | 10 | 10 | ||||||
Deferred tax liability, net | - | - | ||||||
Lease liability | 637 | 670 | ||||||
Total non-current liabilities | 647 | 680 | ||||||
SHAREHOLDERS' EQUITY: | ||||||||
Share capital | 11,743 | 11,760 | ||||||
Additional paid in capital | 4,016 | 4,018 | ||||||
Treasury stocks | (1,041 | ) | (1,043 | ) | ||||
Actuarial reserve | (102 | ) | (102 | ) | ||||
Retained earnings | (2,791 | ) | (2,593 | ) | ||||
Total Equity | 11,825 | 12,040 | ||||||
TOTAL LIABILITIES AND EQUITY | 20,560 | 23,431 | ||||||
ABOUT ADCORE
Adcore is a leading AI-powered marketing technology company.
By combining extensive industry knowledge and experience with its proprietary artificial intelligence (AI) powered technology, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner, Verified Amazon Partner, and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please visit https://www.adcore.com/investors/,https://www.adcore.com/blog or follow us on LinkedIn.
FORWARD-LOOKING STATEMENTS
This press release contains or may contain certain forward-looking statements, including statements about the Company. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
ADCORE INC.
https://www.adcore.com/investors/
Nick Campbell, CFA | Martijn van den Bemd | |||
Investor Relations | Chief Partnerships Officer | |||
Telephone: 905-630-0148 | Telephone: 647-497-5337 | |||
Email: nickc@adcore.com | Email: martijn@adcore.com |
SOURCE: Adcore Inc.
View the original press release on ACCESS Newswire
FAQ
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