Reklaim Ltd. Reports Record 2024 Revenue and Positive EBITDA

Rhea-AI Summary

Reklaim (MYIDF) reported strong financial results for fiscal year 2024, with revenue increasing 24% to $5,079,714 from $4,111,927 in 2023. The company achieved positive EBITDA of $831,250 and net income of $373,353, while maintaining a robust gross margin of 82%.

Operating cash flow surged 282% to $223,617, with cash reserves showing a 258% increase year-over-year. The company's 'Deals' segment revenue grew significantly by 233%. Additionally, Reklaim implemented a share repurchase program (NCIB), cancelling 104,000 common shares, and granted 1,498,000 stock options at $0.075 per share.

The company also launched a Shares for Redemption Trial program, allowing users to convert platform points into equity, retiring $1,800 in debt through the issuance of 16,380 common shares to 36 test users in Q1 2025.

Positive

• Revenue increased 24% to $5.08M in 2024
• Achieved positive EBITDA of $831,250
• Net income of $373,353
• High gross margin of 82%
• Operating cash flow up 282% to $223,617
• Cash reserves increased 258%
• 'Deals' segment revenue grew 233%

Negative

• Stock option grants of 1,498,000 shares may lead to dilution

Revenue Up 24%, Gross Margin Reaches 82%, Operating Cash Flow Up 282% Year-Over-Year

NEW YORK, April 17, 2025 /PRNewswire/ - Reklaim (TSXV: MYID) (OTC: MYIDF), a publicly traded leader in consumer data privacy and compliant data monetization, today announced its audited financial results for the fiscal year ended December 31, 2024.

Key Financial Highlights:

• Revenue: $5,079,714 — up 24% from $4,111,927 in 2023
  
  
• EBITDA: Positive $831,250, driven by margin expansion and cost efficiency
  
  
• Net Income: $373,353
  
  
• Gross Margin: 82%
  
  
• Operating Cash Flow: $223,617 — a 282% increase over 2023
  
  
• Cash Reserves: Ended the year with a 258% increase in cash on hand

Strategic Achievements and Financial Strength

Reklaim's strategic focus on diversifying revenue streams drove substantial growth across its 'Platform' and 'Deals' segments, with 'Deals' revenue surging by 233% year-over-year. This adaptability highlights Reklaim's ability to navigate an evolving data landscape while maintaining operational discipline.

"Reklaim was built on a simple premise: people should own their data," said Neil Sweeney, Founder and CEO of Reklaim. "That belief is now becoming reality. Privacy is no longer an afterthought — it's driving the next era of advertising and data monetization. We've scaled responsibly, stayed cash-flow positive, and aligned our platform with the future of compliance and consumer trust. These results are validation of our thesis."

Looking Ahead

Reklaim continues to empower consumers to take control of their data while expanding its AI privacy initiatives. For more details on our market insights and our CEO Quarterly Letter, please review Reklaim's MD&A.

Additional Corporate Updates

Stock Options
Subject to TSX approval, Reklaim has granted 1,498,000 stock options at a strike price of $0.075 per share to four employees, including 1,484,000 to two officers. This follows 51,000 previously approved options that have not yet been issued.

Share Repurchase (NCIB)
As part of its Normal Course Issuer Bid initiated in September 2024, Reklaim has cancelled 104,000 common shares.

Shares for Redemption Trial Program
Under its Shares for Redemption Trial program, Reklaim enables users to convert platform points into equity. In Q1 2025, the Company retired $1,800 in debt by issuing 16,380 common shares to 36 test users. Pending TSX approval, an additional 5,201 shares will be issued to 38 test users to settle $416.08 in user redemption debt.

About Reklaim

Reklaim navigates the evolving consumer data privacy landscape, offering privacy-compliant data solutions for Fortune 500 brands, platforms, and data companies. Its platform allows individuals to reclaim, control, and monetize their data with complete transparency and consent. Learn more at investors.reklaimyours.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the closing of the Debt Settlement and TSXV approval of the Debt Settlement, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.

The reader is cautioned that assumptions in preparing forward-looking information may prove incorrect. Events or circumstances may cause actual results to differ materially from those predicted due to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Although considered reasonable by management during preparation, such information may prove incorrect, and actual results may differ materially from those anticipated. This cautionary statement expressly qualifies forward-looking statements contained in this news release. The forward-looking statements in this news release are made as of the date of this news release. The Company will only update or revise any included forward-looking statements as expressly required by Canadian securities law.

Meta Description:

Reklaim reports record 2024 revenue of $5.08M, 82% gross margin, and 282% cash flow growth. Positive EBITDA and net income confirm profitable scale.

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SOURCE Reklaim Ltd.

FAQ

What was Reklaim's (MYIDF) revenue growth in 2024?

Reklaim's revenue grew 24% to $5,079,714 in 2024, compared to $4,111,927 in 2023.

How much did Reklaim's (MYIDF) 'Deals' segment revenue increase in 2024?

Reklaim's 'Deals' segment revenue increased by 233% year-over-year in 2024.

What is Reklaim's (MYIDF) share repurchase program status?

Under its Normal Course Issuer Bid (NCIB) initiated in September 2024, Reklaim has cancelled 104,000 common shares.

How does Reklaim's (MYIDF) Shares for Redemption Trial program work?

The program allows users to convert platform points into equity shares. In Q1 2025, Reklaim issued 16,380 shares to 36 test users, retiring $1,800 in debt.

What was Reklaim's (MYIDF) EBITDA and gross margin in 2024?

Reklaim achieved positive EBITDA of $831,250 and maintained a gross margin of 82% in 2024.