Adcore Starts 2025 Off Strong With Robust Financial Position & Media Blast Performance Update
Rhea-AI Summary
Adcore (TSX:ADCO)(OTCQX:ADCOF) reports strong financial position at the end of 2024, with $10.8 million in cash and equivalents, marking a 61% increase from Q3 2024 and a 34% increase year-over-year. The company's Media Blast app demonstrates significant growth, reaching nearly $2 million in Annual Recurring Revenue (ARR) in December 2024, doubling its performance in just six months from the previous $1 million milestone.
These preliminary, unaudited figures reflect strong business fundamentals across core activities, markets, and segments. The company attributes the cash growth to both seasonal factors and improved business performance. Adcore plans to leverage its robust cash position for technology development and global expansion initiatives in 2025.
The company has scheduled a webinar for January 15th to introduce Proposaly.io, its newest sales enablement app designed to streamline business sales processes and client relationship management.
Positive
- Cash and equivalents increased 61% QoQ to $10.8M
- Media Blast app reached $2M ARR, doubling in 6 months
- 34% YoY increase in cash position
Negative
- Financial figures are preliminary and unaudited
- Cash growth partially attributed to seasonality rather than pure business performance
News Market Reaction
On the day this news was published, ADCOF gained 50.38%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
(All Figures are in CAD)
TORONTO, ON / ACCESSWIRE / January 13, 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"), is pleased to share a preliminary update on its financial position as of December 31, 2024. Based on the visibility today, the company closed the year with
The above figures are preliminary and unaudited. The Company remains committed to providing further updates as our financial review progresses.
"We are thrilled to close out 2024 on such a strong note, positioning Adcore for a promising 2025 with a robust cash position to drive our strategic initiatives in technology development and global expansion," said Omri Brill, Adcore CEO & Founder. "While seasonality played a role in our cash growth, the year-over-year increase is primarily a result of our continued progress across core activities, markets, and segments. This momentum is a testament to the strength of our business fundamentals."
Mr. Brill added, "We are especially excited about the performance of our Media Blast app, which achieved an impressive near
Mr. Brill continued, "Looking ahead to 2025, we are highly optimistic. With strong financials and growing demand for our technology-driven solutions, Adcore is well-positioned to capitalize on market opportunities and continue its upward trajectory."
In accordance with the company's commitment to innovation and technology, Adcore will host a webinar January 15th at 10am eastern time to unveil its newest app, Proposaly.io.
REMINDER: Join the Proposaly.io Webinar, January 15th, 10am Eastern Standard Time
Adcore invites you to join their webinar where the Company will showcase its newest sales enablement app, Proposaly.
Proposaly is set to transform the way businesses secure sales and manage client relationships by streamlining the entire sales process into one centralized, automated solution.
To register for the webinar please click here or visit: https://investors.adcore.com/proposaly.
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, the potential for annual recurring revenue resulting from the MediaBlast app and its potential for the 2025 financial year. 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 |
SOURCE: Adcore Inc.
View the original press release on accesswire.com
FAQ
What is Adcore's (ADCOF) cash position as of December 31, 2024?
How much Annual Recurring Revenue (ARR) did Adcore's Media Blast app generate in December 2024?
When will Adcore (ADCOF) launch its new Proposaly.io app?
What caused the increase in Adcore's (ADCOF) cash position in Q4 2024?
