VANCOUVER, BC, March 10,
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 provided to
global consumer brands, announces that it has signed a Master
Services Agreement (the "MSA") with a leading bedding company (the
"Customer").
The Customer is headquartered in the U.S. and sells its products
under 4 major brands in about 150 countries. The Customer used
PLATFORM3 for a trial program in 2020,
before allocating a larger budget in 2021 (see press release dated
May 6, 2021). The MSA sets out terms
and conditions for marketing campaigns to be launched under a
license to use PLATFORM3 to implement
digital loyalty and rewards programs in the U.S. for two of its
leading brands.
In 2021, the Customer ran marketing and rewards campaigns on
PLATFORM3 that generated over $200,000 in revenues for Datable. In 2022, the
Customer has a budget of approximately $750,000 for marketing and rewards campaigns on
PLATFORM3. The gross margin for these
revenues is expected to be lower than the Company's estimated gross
margin of 50% this year, due to the product mix.
"We are very pleased that this customer has the confidence to
allocate a significant budget to a programs hosted on
PLATFORM3 in 2022, after a
challenging year in 2021," said Robert
Craig, Datable's CEO. "This year, we expect all of our
largest customers to renew their license agreements, with most
upsizing the scope and scale of the software and services we
provide."
Datable expects strong revenue growth in 2022, with close to
$3 million in revenue under contract
for 2022 and future periods. Datable expects their gross margin to
improve to about 50 percent in 2022, compared with approximately 40
percent in 2021, due to improved operational efficiency and product
mix. Datable recently announced an estimated revenue growth of 77
percent to approximately $3.5 million
for the year ended Dec. 31, 2021,
compared with the same period in 2020, with the gross margin
expected to be approximately 40 percent (see press release dated
Feb. 16, 2022).
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.
PLATFORM3 incorporates 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.