VANCOUVER, BC, April 21, 2022 /CNW/ - Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "Datable"), the developer of a proprietary, SaaS-based Consumer Lifecycle and Data Management Platform called PLATFORM3, is pleased to announce that it has signed four agreements (the "Agreements") with both new and existing customers, for marketing programs to be completed in 2022.
The customers include:
- One of the world's largest digital advertising agencies, and Datable's largest customer in 2021, on behalf of a Fortune 500 consumer goods company;
- A leading Canadian bread brand, which has been a customer since 2019;
- A global advertising agency, and returning customer from 2019, on behalf of a leading beverage company; and,
- A U.S.-based advertising agency and a new customer for Datable, for a gift-with-prize program to be implemented in military commissaries across the U.S.
The marketing programs covered by the Agreements are scheduled to be completed in 2022, for approximately $100,000 in licences and rewards, with gross margin expected to be about 50%, and with upside from transaction fees and upsells.
"It is great to see customers adding to their 2022 programs on PLATFORM3 based on the ROI we have delivered," said Robert Craig, Datable's CEO. "These agreements support our goals of upsizing our largest customers from 2021 and adding new customers with large marketing budgets. We are very encouraged to sign contracts with an agency that we last did business with in 2019 and a new agency covering the military sector."
Datable now has $3.3 million in revenue under contract for 2022 and future periods, of which over $3 million is expected to be recognized as revenue in 2022. This includes $2.9 million in contracted revenues and $400,000 in expected program fees from customers. Datable expects gross margin to be about 50% in 2022, an increase of 10% compared to approximately 40% in 2021, due to improved operational efficiency.
About Datable Technology Corporation
Datable has developed PLATFORM3, a proprietary Consumer Lifecycle and Data Management Platform that is sold to global consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by some of the worlds' most valuable consumer brands to access new consumer communities and engage them while collecting, analyzing, and managing their first-party data. PLATFORM3incorporates proprietary technology to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Datable Technology Corp.
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