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Ackroo Releases Q3 2024 Financial Results

HAMILTON, Ontario, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Ackroo Inc. (TSXV:AKR, OTC:AKRFF) (the "Company"), a gift card, loyalty marketing, payments and point-of-sale technology consolidator and services provider, has filed its financial results for the period ended September 30, 2024. The results for the period ended September 30th,2024 reflect a 1% increase in recurring revenues and a 4% decrease in total revenues over the same period in 2023. The Company delivered a 35% increase in EBITDA over the same period in 2023 representing 34% of total revenues which now has year to date adjusted EBITDA at $1,552,275, a 43% increase over the same period in 2023. Ackroo used $175,000 of their earnings towards share buy-backs and to pay down debt and continued to optimize their product and operations. The Company plans to continue their focus on earnings generation in order to continue to improve their balance sheet, pay down debt, buy back shares and to help fund future acquisitions.

The complete financial results for Ackroo, along with management's discussion and analysis for the quarter ended September 30, 2024, are available under the profile for the Company at www.sedar.com. Highlights include:

Q3 2024 vs. Q3 2023:

 

Q3 2023 TOTALS

Q3 2023 TOTALS

+/- % Change

Total Revenue

$1,551,696

$1,624,001

(-4%)

Subscription Rev

$1,411,166

$1,396,732

+ 1%

Gross Margins

$1,357,831 (88%)

$1,477,437 (91%)

(-3%)