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 Inc. (OTC: AKRFF), formerly listed on the TSX Venture Exchange as AKR, generated a consistent stream of corporate news as a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider. Its news flow covered strategic transactions, shareholder approvals, financing arrangements and operating performance, providing context for investors tracking the company’s evolution and eventual sale.
One major theme in Ackroo’s news was its go‑private transaction with Paystone Inc. The company announced the signing of a definitive arrangement agreement with Paystone, followed by updates on shareholder voting, court approvals and the final completion of the statutory plan of arrangement. These releases detailed how Paystone’s subsidiary Atom Growth Inc. acquired all Ackroo shares, assumed its assets and liabilities, and set the stage for delisting and ceasing to be a reporting issuer.
Ackroo’s news archive also includes quarterly financial results, where the company discussed recurring subscription revenue from its cloud-based marketing platform, adjusted EBITDA trends and its focus on earnings generation and operational efficiency. Additional releases describe the restructuring of a loan with BDC Capital and the implementation of a normal course issuer bid to repurchase and cancel common shares.
Visitors to this news page can review historical announcements related to Ackroo’s business performance, capital structure decisions, debt arrangements and the steps leading to its acquisition by Paystone. For anyone researching the AKRFF symbol, these articles provide a detailed record of how Ackroo positioned itself as an industry consolidator in gift card, loyalty marketing, payment and point-of-sale solutions and how that strategy culminated in the completed transaction with Paystone.
Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) announced its annual general and special meeting of shareholders set for September 1, 2021, at 2:00 p.m. (ET) in a hybrid format. Shareholders can join via audio conference to engage with management and discuss the company's ongoing business. The management information circular detailing meeting matters was mailed to shareholders on July 28, 2021, and will be accessible on SEDAR. Ackroo specializes in marketing, payment, and point-of-sale solutions, aiming to enhance operations for various merchants.
Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported its financial results for Q2 2021, achieving its 14th consecutive positive adjusted EBITDA quarter. Revenue rose by 2% to $1.47 million, with recurring revenue constituting 85% of total revenue. The acquisition of InterActive DMS enhanced customer base and geographic reach. However, adjusted EBITDA fell by 85% to $45,026, and gross profit margin decreased to 88%. The company's focus remains on organic growth and M&A opportunities.
Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported a significant increase in US-based revenues, now representing over 10% of total revenues, marking a 50% increase from 2020. The company services nearly 1,800 clients across 5,300 locations in North America. To support this growth, Ackroo has hired sales operations consultants in Florida and is exploring partnerships to enhance its market presence. CEO Steve Levely emphasized US expansion as a key priority for the company.
Ackroo Inc. has successfully completed its first U.S.-based acquisition by acquiring InterActive DMS for a total of $900,000. This acquisition adds over 150 clients to Ackroo's existing portfolio, boosting its AckrooPOS business. The deal comprises an initial payment of $600,000 and a final payment of $300,000 due by August 31, 2021. IDMS offers cloud-based dealer management software to independent automotive dealers across the U.S., enhancing Ackroo’s service offerings and market reach.
Ackroo reports its financial results for Q1 2021, marking its 13th consecutive positive EBITDA quarter. Revenue stands at $1,284,289, a 14% decline from Q1 2020. Subscription revenue also decreased by 9% to $1,054,468. Despite the challenges posed by COVID-19, Ackroo achieved a positive adjusted EBITDA of $8,408. The company has successfully normalized the newly acquired GGGolf business, resulting in an 88% gross profit margin, up from 86% last year.
Ackroo Inc. announced its acquisition of InterActive DMS for $900,000, enhancing its AckrooPOS solution in the automotive sector. This strategic purchase is Ackroo's eleventh acquisition, increasing its automotive client base to over 750. The deal includes a cash payment of $600,000 at closing and an additional $300,000 within 90 days, subject to working capital adjustments. The acquisition is set to close by May 31, 2021, and aims to deepen Ackroo's expertise while expanding its operational tools for clients across Canada and the U.S.
Ackroo Inc. (TSX-V: AKR, OTC: AKRFF) reported solid financial performance despite challenges from Covid-19. The company achieved 16% revenue growth, totaling $6,047,576 for the year ended December 31, 2020, with an 8-year cumulative average growth rate of 34%. Subscription revenue increased by 24%, while EBITDA surged 167% to $1,638,587, indicating strong profitability. Ackroo expanded its offerings with new solutions and acquisitions, servicing over 1,500 clients in 5,000 locations without layoffs or government aid, highlighting its resilience and growth potential.
Ackroo Inc. announces that shareholders have approved all matters presented during their virtual annual general meeting on October 8, 2020. All proposed director nominees were elected with 99% voting in favor. The approved directors include Steve Levely, Sam Cole, Wayne O’Connell, Kristaps Ronka, and Jason Donville. Additionally, Grant Thornton LLP was re-appointed as the company's auditor, and the stock option plan was ratified. For more details, the management proxy circular is available on SEDAR.