Ackroo Releases Q2 2023 Financial Results

Ackroo delivers 9% YTD YoY revenue growth and 20% YTD EBITDA as a percentage of revenue

HAMILTON, Ontario, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSX-V: AKR; OTC: AKRFF) (the “Company”), a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended June 30, 2023. The results for the period ended June 30^th, 2023 reflect 9% year to date year over year revenue growth and 2% year over year quarterly growth. The Company achieved a 5% increase in subscription revenue growth over the same period last year which now has year to date subscription revenue growth at 12%. The Company delivered $241,838 of positive adjusted EBITDA during the quarter which now has year to date adjusted EBITDA at $693,263 representing 20% of total revenues. The Company is very encouraged by these positive trends and expects continued success in the quarters ahead.

The complete financial results for Ackroo, along with management’s discussion and analysis for the quarter ended June 30, 2023, are available under the profile for the Company at www.sedar.com. Highlights include:

H1 2023 vs. 2022:

	H1 2023 TOTALS			H1 2022 TOTALS			+/- % Change
Total Revenue	$3,436,327			$3,139,992			+ 9%
Subscription Rev	$3,021,865			$2,700,840			+ 12%
Gross Margins	$3,159,372 (92%)			$2,890,352 (92%)			+ 9% (+0%)
Adjusted EBITDA	$693,263			$554,868			+ 25%
EBITDA % of Rev	20%			18%			+ 2%

Q2 2023 vs. 2022:

	Q2 2023 TOTALS			Q2 2022 TOTALS			+/- % Change
Total Revenue	$1,610,841			$1,583,497			+ 2%
Subscription Rev	$1,408,666			$1,347,353			+ 5%
Gross Margins	$1,463,561 (91%)			$1,496,716 (95%)			-2% (-4%)
Adjusted EBITDA	$241,838			$312,307			-29%
EBITDA % of Rev	15%			20%			-5%