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Adcore Inc. reports developments in AI-powered marketing technology, including its Marketing Cloud platform for managing and automating e-commerce advertising and analyzing advertising-budget performance. Company news commonly covers quarterly and annual results, conference calls, international revenue trends across APAC, EMEA and Australia, and new client mandates for performance marketing, media mix modeling and campaign management.
Updates also address Adcore's product expansion, including Proposaly, Feeditor App, AI Creative Studio, SEO services, upper-funnel campaigns and affiliate-driven marketing. Recurring announcements describe platform automation, AI agents, partner certifications with major advertising channels, and the company's operations across Israel, Canada, Australia, Hong Kong and China.
Adcore Inc. (TSX:ADCO, OTCQX:ADCOF) reported its financial results for the year ended December 31, 2022, highlighting key performance metrics. Gross margin improved by 43%, accompanied by the addition of over 20 new strategic customers. Revenue for 2022 was CAD$26.6 million, down 25% from 2021, while adjusted EBITDA decreased by 64% to CAD$1.4 million. Notably, EMEA and North America saw regional revenue increases of 71% and 125%, respectively. Cash and cash equivalents stood at CAD$8.8 million as of year-end. Looking ahead, Q1 2023 revenue is projected between CAD$6 million and CAD$6.5 million.
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Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) will announce its fourth quarter and fiscal year financial results for 2022 on March 29, 2023, following the market close. A conference call and webcast to discuss these results will occur on March 30, 2023, at 10:00 AM ET. Adcore, known for its e-commerce advertising management platform, is dedicated to helping businesses optimize their digital marketing strategies. Established in 2006, the company operates from multiple global locations and has received recognition as a certified Google Premier Partner. Investors can submit questions ahead of the call and are encouraged to participate.
Adcore has engaged Bristol Capital Ltd. for North American investor relations and Dr. Reuter Investor Relations for European services to enhance shareholder communication. Bristol's contract is for 12 months, with a monthly fee of up to CAD $10,000 and 200,000 stock options at CAD $0.35 each. Dr. Reuter's initial engagement lasts 6 months at a fee of up to €3,000 per month. The company has also terminated its prior arrangement with IMS Investor Relations, which lasted from January 2021 to February 2023. The CEO expressed confidence in the new partnerships to strengthen investor relationships as the company continues to grow.
TORONTO, ON / ACCESSWIRE / March 2, 2023 / Adcore Inc. (TSX:ADCO)(OTCQX:ADCOF) has reaffirmed its preliminary guidance for Q4 2022, expecting revenues between CAD$8 million and CAD$9.1 million, with gross profits projected between CAD$2.7 million and CAD$3.7 million, reflecting a gross margin of approximately 40%. The company reported a cash position increase of 7%, totaling CAD $8.8 million as of December 31, 2022, up from CAD $8.2 million on September 30, 2022. CEO Omri Brill highlighted the team's dedication and the positive results, emphasizing plans for continued growth.
Adcore Inc. has achieved the prestigious 2023 Google Premier Partner status, placing it among the top 3% of Google advertising partners. This recognition underscores Adcore's expertise in maximizing campaign success and driving client growth through advanced digital marketing solutions. As a result, Adcore will be allowed to display the Premier Partner badge on its marketing materials, further enhancing its brand credibility. CEO Omri Brill expressed pride in this achievement, reinforcing their commitment to impactful digital marketing. Adcore continues to empower e-commerce through its innovative advertising management platform.
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Adcore Inc. will present at the World Outlook Financial Conference on February 4, 2023, marking its third consecutive year at this event. Chief Partnerships Officer, Martijn van den Bemd, expressed enthusiasm for attending in-person for the first time. The company reported positive results through innovation and securing new contracts and renewals from partners. The World Outlook Financial Conference is known for providing valuable financial forecasts for investors over 33 years. Adcore specializes in e-commerce advertising management, utilizing AI to optimize advertising strategies for maximum ROI.
Adcore Inc. has issued preliminary guidance for its fourth quarter of 2022, projecting revenues between CAD$8 million and CAD$9.1 million, with gross profit expected to range from CAD$2.7 million to CAD$3.7 million, leading to a gross margin of 40%. The Company also appointed Zehavit Dan as General Counsel and Corporate Secretary, bringing over 18 years of legal experience. Adcore, a key player in e-commerce advertising management, continues to enhance its digital marketing solutions, aiming to empower advertisers worldwide.
Adcore Inc. has relaunches its Amphy e-learning platform, enhancing user experience with a redesigned interface and new features. Key upgrades include class trailers for previews, improved visibility for class availability, and a streamlined checkout process. These improvements aim to provide a more engaging online learning experience for users. CEO Omri Brill expressed enthusiasm for the upgrades, which are designed to support learners in achieving their goals. Founded in 2021, Amphy offers diverse live online classes to cater to various learning needs.