Welcome to our dedicated page for Ackroo news (Ticker: AKRFF), a resource for investors and traders seeking the latest updates and insights on Ackroo stock.
Ackroo (AKRFF) provides SaaS-powered gift card processing and loyalty management solutions for small and medium businesses. This page aggregates official news releases and strategic updates, offering stakeholders a centralized resource to track the company’s developments.
Investors and industry observers will find timely updates on earnings reports, strategic partnerships, and product innovations. The curated collection includes announcements related to platform enhancements, merchant adoption trends, and operational milestones critical to understanding Ackroo’s market position.
Content spans financial disclosures, technology integrations, and customer engagement initiatives, reflecting Ackroo’s focus on streamlining digital payments and loyalty program management. All materials are sourced directly from the company to ensure accuracy and compliance with financial reporting standards.
Bookmark this page for streamlined access to Ackroo’s evolving role in retail technology and customer retention strategies. Check back regularly for insights into how the company’s automated solutions continue to shape SMB transaction efficiency.
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.
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.
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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