Zoomd Technologies Ltd. reports financial results and corporate updates for its marketing technology business, which operates through wholly owned subsidiary Zoomd Ltd. The company provides a mobile app user-acquisition and engagement platform that integrates multiple global digital media outlets into a unified campaign-management environment for advertisers.
Recurring company developments include quarterly and annual results, management discussion and analysis disclosures, conference-call updates, platform positioning for app marketers, participation in mobile advertising industry events, and strategic partnerships that extend Zoomd's user-acquisition technologies into verticals such as sports and betting. The company is listed on the TSX Venture Exchange under ZOMD and trades over the counter as ZMDTF.
Zoomd Technologies Ltd. (TSXV: ZOMD, OTC: ZMDTF) announced on Sept. 8, 2020, its engagement of Generation IACP Inc. for market-making services to enhance liquidity of its shares, pending TSX Venture Exchange approval. The monthly fee for these services is set at $7,500 plus taxes, with no share compensation. The agreement will last six months, automatically renewing unless terminated with a 30-day notice. Zoomd operates as a MarTech platform, providing user-acquisition and engagement solutions to advertisers, integrating over 600 media sources into one dashboard.
Zoomd Technologies Ltd. (TSXV: ZOMD, OTC: ZMDTF) reported a 15% revenue decline to $5.7 million for Q2 2020, influenced by the global downturn in media spending due to COVID-19. The company achieved a gross profit margin of 31%, an increase of 10% year-over-year, by focusing on higher margin products. Net loss narrowed to $1.5 million from $2.1 million in Q2 2019. Adjusted EBITDA was $(0.8) million, down from $0.05 million. Cash reserves improved to $4.2 million, a 93% increase from the previous year, aided by ongoing investments in their SaaS platform and new integrations with Google and TikTok.