Ackroo Announces 2023 Audited Financial Results
Provided By GlobeNewswire
Last update: Apr 30, 2024
HAMILTON, Ontario, April 30, 2024 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider, is pleased to report audited annual revenues of $6,977,597 for the year ended December 31st, 2023 including $6,086,981 of annual recurring revenue. This represents an 11% increase in total revenue and a 14% increase in recurring revenue over the same period in 2022. The Company also achieved $1,722,102 of positive adjusted EBITDA during the year representing a 23% increase over 2022 and equates to 27% of total revenues. The Company improved their balance sheet, completed its thirteenth acquisition, divested of a non-core point-of-sale product, paid down debt, bought back shares, improved operations and continued the development of their core AckrooMKTG platform. The Company delivered their strongest year to date on many fronts and is very optimistic about what the future holds for Ackroo.
