REKLAIM LTD ANNOUNCES Q4 AND 2022 RESULTS WITH A RECORD 136% INCREASE IN YEAR-OVER-YEAR REVENUE AND IMPROVED GROSS MARGINS
Reklaim Ltd. has filed its 2022 annual audited financial results for the year ending Dec. 31, 2022.
Reklaim highlights for 2022
- Year-over-year growth of 136 per cent to $2,361,110 from $1,000,200. This 2022 annual revenue represents a new high for the company;
- Q4 2022 revenue increased to a record $718,730 from $454,585 in Q4 2021, a 58-per-cent increase over Q4 2021;
- Q4 2022 revenue increased to $718,730 from $606,431 in Q3 2022, a 19-per-cent increase over Q3 2022;
- The company increased its gross margin by 59 per cent from Q3 2022 to Q4 2022, moving from 16 per cent to 26 per cent in Q4 2022;
- Gross margins improved 87 per cent to negative 6 per cent for the year ended 2022, compared with negative 44 per cent in 2021;
- Recurring revenue grew to 86 per cent for 2022, compared with 73 per cent in 2021.
"Two thousand twenty-three marks the beginning of the enforcement period for state-level privacy regulation in California and Virginia, with three additional states to be added in 2023. The ability of marketers to use unconsented data will continue to deteriorate rapidly, which will create an ever-increasing opportunity for Reklaim to add more clients looking to replace their historical non-compliant data provider," said Reklaim chief executive officer Neil Sweeney. "In the past year, we have driven massive revenue and gross margin increases while streamlining costs to drive Reklaim towards profitability. Growth and profitability are our focus for 2023. As outlined in our MD&A [management's discussion and analysis], the privacy world is accelerating to include the consumer and no company is better positioned to take advantage of this trend. We expect to maintain this same trajectory in 2023."
Full financial results and management's discussion and analysis are posted to SEDAR and on the company's investor relations website.
About Reklaim Ltd.
Consumer data and the evolution of privacy drive Reklaim. Offering compliant, zero-party data to Fortune 500 brands, platforms and data companies, Reklaim allows consumers to visit the application, confirm their identity and unveil data collected and sold for years without the consumer's explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account through which, should they choose to, they can be compensated for their data.