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.
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.