Ackroo Releases Q1 2024 Financial Results

HAMILTON, Ontario, May 23, 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, has filed its financial results for the period ended March 31, 2024. The Company is pleased to report quarterly revenues of $1,547,417, recurring subscription revenue of $1,425,369, and adjusted EBITDA of $505,705. The total and subscription revenues declined by 15% and 12% respectively year over year primarily from the divesture of their GGGolf business on March 31^st, 2023 however adjusted EBITDA has increased by 12% year over year representing 33% of total revenues. The Company delivered these results, paid off the debt obligation associated with the acquisition of GiftFly, completed the bulk of the Simpliconnect migration work and continued to streamline and optimize operations for further scale.

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