Adcore Inc T.ADCO

ADCORE Rings the Opening Bell

[ace1mccoy]

Adcore to Ring Opening Bell at the Toronto Stock Exchange 2021-03-17 11:04:05 AM ET (ACCESSWIRE)

 

TORONTO, ON / ACCESSWIRE / March 17, 2021 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(FSE:ADQ), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("Effortless Advertising") will celebrate the Company's graduation to the Toronto Stock Exchange ("TSX") by virtually ringing the TSX opening bell at 9:30 a.m. ET tomorrow, Thursday March 18, 2021. The Company's senior management, directors and other team members will participate in the ceremony in recognition of the Company commencing trading on the TSX on March 4, 2021 under the ticker symbol "ADCO". A live webcast of the TSX opening bell ceremony will be available at 9:30 a.m. ET on BNN Bloomberg. A video of the webcast will also be available on the Company's website and social media. "We are proud to be the first Israeli-based company to graduate to the Toronto Stock Exchange and we're excited to become part of one of the world's leading public exchanges," commented Omri Brill, CEO of Adcore. "The past year has been a busy one for Adcore, reflected in our significant growth and increased market recognition, and while we pause briefly today to celebrate this major accomplishment, we remain focused on continuing to drive the rapid momentum we're seeing in the business. Our progress to date would not have been possible without the innovative talents of our employees, whose hard work and commitment have contributed immeasurably to our success. We look forward to achieving many future milestones, as we continue to grow our business by providing best-in-class digital marketing solutions to the marketplace." ABOUT ADCORE Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence engine, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising, and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Microsoft Partner, Facebook Partner and TikTok Partner. Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China. For more information about Adcore, please visit https://www.adcore.com/investors/ FORWARD-LOOKING STATEMENTS This press release contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. For further information please contact:Martijn van den Bemd,GM North AmericaTelephone: 647-497-5337Email: [e-mail] U.S. Investor Relations:John Nesbett/Jennifer BelodeauIMS Investor RelationsTelephone: 203-972-9200Email: [e-mail] Canada Investor Relations:Virtus Advisory GroupTelephone: 416-644-5081Email: [e-mail] ADCORE INC. https://www.adcore.com/investors/ SOURCE: Adcore Inc. View source version on accesswire.com: https://www.accesswire.com/636055/Adcore-to-Ring-Opening-Bell-at-the-Toronto-Stock-Exchange

[GoLongTerm]

Any predictions on the share price by end of year?  I'm leaning towards somewhere between $5-$10 by EOY.  Having said that; those numbers could be blown out of the water if things progress much like AcuityAds did over the last year. GLTA

[TruthInNumbers]

Alot depends on the earnings coming out soon. Could be huge..

[Torontojay]

That's a good guess imo. By my notes they could possible double their revenue this year with anywhere from 15-20 million in gross profit. If we look at Quinstreet or Izea, they are trading at much higher EV to Gross profit numbers. Quinstreet has about a 20 times multiple of EV to GP and Izea is about 22 times. If we use an average multiple of about 20 and expected gross profit of at least

[Torontojay]

The question now becomes: do they deserve a 20 times multiple to net sales? I believe if they were to list on the Nasdaq then this could happen. Just to put things into perspective, Acuityads is trading at about 19 times net sales and I believe a similar run up in share price will happen to Adcore.  Disclaimer: I own shares in Acuity and Adcore 

[Stuator]

Interesting Torontojay.   I backed out some numbers from their corporate update. They said that they were expecting at least 15% growth for the Full Year 2020. So what does that look like on the growth rate for Q4 YoY?   2019 2020 Growth Q1 3.2 3.30

[Torontojay]

It looks pretty good Stuator. I would just add that q4 should bring revenues of approximately $6.2 m (us) to give us that 15% year over year growth in 2020.  $1us=$1.24 cad  total revenue is approximately $13 m (us) for the year. With the new offices in Shenghai and a possibility that the loss client may return in the second half of the year, I feel positive about the possibility

[Stuator]

Agreed 6.2M$ US for the 4th quarter. I did the calculations in Canadian as per the news releases, but their MD&A uses US currency.   Also, the other issue with my numbers was that Q42019 was prior to covid, so getting 87% growth in Q42020 is exceptionally more impressive than me forecasting 87% growth off of Q1-Q32020 for Q1-Q32021.  I should've posted that when I first wrote

[Torontojay]

I believe the company is still on track to achieve $15 million in gross profits for 2021.If they can achieve this,the shares could trade in the $5-$10 range.   I gave a reasonable estimate of $6.65 in 12 months to trade closer in line with its peers.