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Ackroo Inc. - AKRFF STOCK NEWS

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Ackroo Inc. (OTC: AKRFF) is a Canadian-based company that specializes in providing gift card and loyalty processing solutions. Utilizing a SaaS-based business model, Ackroo offers automated solutions for both in-store and online environments. Their platform enables small to medium-sized businesses to process gift card and loyalty transactions at the point of sale, while also offering essential administrative and marketing data. This empowers merchants to attract, retain, and grow their customer base efficiently.

Headquartered in Hamilton, Ontario, Ackroo’s unique platform simplifies the marketing and payments ecosystem for various industries, including automotive dealerships and convenience stores. The company operates a self-serve, data-driven, cloud-based marketing platform to manage loyalty, gift card, and promotional transactions. Ackroo’s acquisition strategy focuses on consolidating and integrating gift card, loyalty marketing, payment, and point-of-sale solutions to provide comprehensive services to merchants of all sizes.

In recent news, Ackroo has made significant strides with the acquisition of Simpliconnect, a US-based loyalty marketing provider. This acquisition has not only streamlined operations but has also contributed positively to the company's financial performance. Ackroo reported a 16% profit margin from the Simpliconnect acquisition and expects to generate a 60%+ profit margin moving forward.

Additionally, Ackroo has shown strong financial health with a 23% year-over-year growth in adjusted EBITDA and an 11% increase in total annual revenue for 2023. These figures underscore Ackroo’s ability to optimize its operations and maintain profitability.

The company is also actively seeking a new Chief Financial Officer to further enhance its corporate governance and meet TSX Venture Exchange requirements. Ackroo remains focused on expanding its market presence, improving its core technology platform, and driving long-term shareholder value. For more information, visit www.ackroo.com.

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Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) has released its Q2 2024 financial results, showing significant EBITDA growth despite modest revenue increases. Key highlights include:

- Total revenue of $1,633,238, up 1% YoY
- Recurring subscription revenue of $1,461,199, up 4% YoY
- Adjusted EBITDA of $515,635, a 113% increase YoY
- EBITDA margin of 32%, up from 15% in Q2 2023

While H1 2024 saw a 7% decrease in total revenue compared to H1 2023, the company achieved a 47% increase in adjusted EBITDA. CEO Steve Levely emphasized the company's focus on increasing earnings and cash flow to support potential growth strategies and improve its financial position.

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Ackroo has received approval from the TSX Venture Exchange to proceed with its Normal Course Issuer Bid (NCIB), announced on June 17, 2024. The NCIB allows Ackroo to purchase up to 5,765,248 of its outstanding common shares over a 12-month period starting July 8, 2024, representing approximately 5% of its share capital. The company may not acquire more than 2% of the shares in any 30-day period. These purchases will take place on the open market at prevailing prices, and all acquired shares will be cancelled. The NCIB will be managed by Canaccord Genuity and funded from Ackroo's working capital. No company insiders are currently planning to sell shares to Ackroo under this program. Ackroo previously completed an NCIB on December 7, 2023, purchasing and canceling 6,068,681 shares.

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Ackroo has announced the renewal of its Normal Course Issuer Bid (NCIB) with the TSX Venture Exchange (TSXV), allowing the company to continue purchasing its common shares. Subject to TSXV approval, Ackroo may buy up to 5.0% of its outstanding shares, or 5,765,248 shares, over a 12-month period starting June 17, 2024. The company believes the market price may not fully reflect its business value and future prospects, hence the decision to enhance shareholder value through share buybacks. Purchases will be made via open market transactions and will be managed by Canaccord Genuity Corp. Shares bought will be canceled. Funding will come from Ackroo's working capital, and no insiders have intentions to sell shares to the company.

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Ackroo has released its Q1 2024 financial results, reporting quarterly revenues of $1,547,417 and recurring subscription revenue of $1,425,369. Despite a 15% decline in total revenue and a 12% dip in subscription revenue, primarily due to the divestiture of GGGolf, the company achieved a 12% year-over-year growth in adjusted EBITDA, reaching $505,705. Gross margins rose to 90% from 88% in Q1 2023. The company completed major milestones, including paying off the GiftFly acquisition debt and advancing the Simpliconnect migration. Ackroo also announced a three-month loan extension with BDC Capital, postponing the loan maturity to September 15, 2024.

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Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announces 2023 audited financial results with $6,977,597 in total revenue, an 11% YoY increase, and $6,086,981 in annual recurring revenue, a 14% increase. The company achieved $1,722,102 of adjusted EBITDA, a 23% YoY increase, representing 27% of total revenues. Ackroo improved its balance sheet, completed acquisitions, divested non-core assets, paid down debt, bought back shares, and enhanced operations. The company is optimistic about its future. Key financial data includes:

  • Total Revenue: $6,977,596
  • Recurring Revenue: $6,086,981
  • Adjusted EBITDA: $1,722,102
  • EPS: $0.007
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Ackroo Inc. announces its plan to review potential candidates for the appointment of a Chief Financial Officer to comply with the TSX Venture Exchange's requirement. The position is currently being held on an interim basis by the CEO, Steve Levely, and the Company aims to fill the vacancy by September 30, 2024.
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Ackroo Inc. updates investors on the progress of their acquisition of Simpliconnect, showcasing operational efficiencies, profitability, and financial gains. The company has successfully integrated the business, achieved a 16% profit margin in the first year, and expects a 60%+ profit margin moving forward. Additionally, Ackroo aims to pay back the cash investment within 39 months and has bought back shares to offset those issued for the acquisition.
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Ackroo Inc. provides an update on the progress made after the acquisition of Simpliconnect, showcasing operational efficiencies, financial gains, and strategic integration plans. The Company has successfully streamlined operations, achieved a 16% profit margin, and is on track to complete product parity and client migration by April 2024. Additionally, Ackroo expects a 60%+ profit margin post-migration, with a return on invested capital anticipated within 39 months. The Company has also repurchased shares to offset those issued during the acquisition, emphasizing a strong financial position.
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Ackroo Inc. reports unaudited annual revenues of $6,825,670 for the year ended December 31st, 2023, with a 9% increase in total revenue and an 11% increase in recurring revenue over the same period in 2022. The company completed its thirteenth acquisition, divested a non-core point-of-sale product, paid down approximately $524,000 of debt, bought back 6,068,681 shares, and expects to announce their sixth consecutive positive adjusted EBITDA year. The company also achieved 11% YoY recurring revenue growth and 9% YoY total revenue growth. The complete financial results will be available under the profile for Ackroo on SEDAR+ at www.sedarplus.com.
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Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) announces that all matters presented at the annual general meeting were approved by shareholders, including the election of directors, re-appointment of the auditor, and adoption of a new security-based compensation plan.
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FAQ

What services does Ackroo Inc. offer?

Ackroo provides gift card and loyalty processing solutions, automated marketing data, and payment processing services to help small to medium-sized businesses grow.

Where is Ackroo Inc. headquartered?

Ackroo Inc. is headquartered in Hamilton, Ontario, Canada.

What are some recent achievements of Ackroo Inc.?

Ackroo recently acquired Simpliconnect, which has led to significant operational efficiencies and financial gains. The company also reported strong year-over-year financial growth.

How does Ackroo’s platform benefit merchants?

Ackroo’s platform helps merchants manage gift card and loyalty transactions, offering key administrative and marketing data to attract, retain, and grow their customer base.

What industries does Ackroo Inc. serve?

Ackroo serves various industries, including automotive dealerships, convenience stores, and other small to medium-sized businesses.

What is Ackroo’s business model?

Ackroo operates a SaaS-based business model, offering automated solutions for in-store and online environments.

Has Ackroo made any recent acquisitions?

Yes, Ackroo recently acquired Simpliconnect, a US-based loyalty marketing provider, which has positively impacted their financial performance and operational efficiency.

What is Ackroo’s financial performance like?

Ackroo reported a 23% year-over-year growth in adjusted EBITDA and an 11% increase in total annual revenue for 2023.

Is Ackroo looking to fill any key positions?

Yes, Ackroo is currently seeking a new Chief Financial Officer to comply with TSX Venture Exchange requirements and enhance corporate governance.

Where can I find more information about Ackroo?

For more information, visit Ackroo’s official website at www.ackroo.com.

Ackroo Inc.

OTC:AKRFF

AKRFF Rankings

AKRFF Stock Data

13.52M
49.15M
42.49%
14.89%
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