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Ionik Announces Record Fourth Quarter and Fiscal 2023 Results
Ionik, a data-driven performance marketing technology company, reported record quarterly Adjusted EBITDA of $5.0 million in Q4, with a year-over-year growth of 27.1% and quarter-over-quarter growth of 34.8%. Fiscal 2023 revenue reached $140.6 million, showcasing a 43.3% increase over the prior twelve months. The company also achieved a record gross profit of $55.5 million and an Adjusted EBITDA of $14.9 million in Fiscal 2023, marking a 51.3% growth compared to the previous year. Ionik's financial highlights for the fourth quarter of 2023 include revenue of $38.5 million, a 12.7% increase, gross profit of $17.5 million, and an Adjusted EBITDA of $5.0 million.
Management expressed optimism for the future, highlighting strategic acquisitions, cash generation, and progress on integration as key achievements. Ionik aims for record revenue and Adjusted EBITDA in 2024, focusing on organic growth, operational efficiency, and shareholder value enhancement.
Ionik announced the sale of substantially all of its mobile games portfolio, including its subsidiary PopReach India, to Phoenix Games Holdings UK for up to US$9.8 million. The sale allows Ionik to focus on its core advertising and marketing technology business while strengthening its balance sheet. Key terms of the transaction include an aggregate consideration of up to US$8.3 million for the sale of intellectual property rights in mobile games, with a Deferred Note of US$2.3 million. Additionally, the sale of shares of PopReach India to Phoenix for US$1.5 million was approved by the Board of Directors of Ionik, following the recommendation of a Special Committee of independent directors.
