Adcore Inc T.ADCO

6 new contracts up to 40M annually

[profitprophet1]

One Quarter TORONTO, ON / ACCESSWIRE / October 31, 2022 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO) (OTCQX:ADCOF) (FSE:ADQ) (TSX:ADCO-WT), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("EffortlessMarketing"), today announced that during third quarter 2022, the Company signed six new clients across three of its regions: North America, Greater China, and Australia and New Zealand, representing an aggregated estimated annual advertising budget of up to CAD$40 million, a record in terms of potential ad spend acquired in one quarter by the Company. Adcore will provide a wide range of its proprietary technologies and services across all marketing efforts to develop effective advertising strategies to enhance the growth of its newly acquired clients. All the new clients are in the e-commerce space in diverse sectors including: "baby and kids", "outdoor", "fashion and apparel", "furniture and living" and "health and fitness". Omri Brill, CEO of Adcore, commented, "We are having tremendous success with our client development efforts worldwide, clearly evidencing our ability to attract new advertising partners with robust potential annual advertising budgets. These new clients operate exclusively in the e-commerce space and recognize Adcore's technological solutions, expertise, and value as an effective e-commerce digital marketing partner. Moreover, approximately 75% of the new estimated ad spend budget comes from North America, demonstrating our success winning clients in a region we have targeted as a strategic growth market for Adcore. We are encouraged by the strong momentum these new wins will create in the business as we head into the fourth quarter and continue on to 2023."

[JonathanJSmith]

You do realize that assuming "direct clientelle" only $4MM goes into Adcore's pockets? Their business model is 5-10% of advertising budgets. I am surprised that the peanut gallery hasn't jumped all over this PR to continue their pumping/shilling. Brilly boy needs to step up his game if he wishes this "company" to go anywhere. We'll see if these muppets can eak out

[Akariboto]

In what world is $4m not material to a company with a mcap of $16m? Even $2m. Digital advertising stocks currently suck. Can count on the fingers of one hand adtech names that are not down at least 80% from their 2021 peaks. You'd have to be a crazy good stock picker to have avoided the tech massacre. Today's challenge is picking future winners from this pile of rubble.

[JonathanJSmith]

For a company that expects to be valued at a Billion? I think Brilly Boy needs to do better than that. There's a reason why this company is valued so low. Furthermore, I find the spin of the PR a bit misleading; why not just mention the potential for $4MM in revenue rather than $40MM in budget management? Insofar as adtech getting hammered - many are terrible companies who can't deliver

[Akariboto]

Yes, PERI hasn't been impacted as hard, but we must keep in mind that they have been listed for a lot longer and shareholders have suffered some massive drawdowns throughout the years. They have even paid dividends at one point. If you purchased PERI shares between 2013 and 2018, you would have been a dissatisfied investor. Sheesh! Although the decline was very unpleasant, those who purchased