VANCOUVER, BC, May 9, 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 existing
customers for marketing programs to be completed in 2022.
The customers include:
- One of the world's largest digital ad agencies, Datable's
largest customer in 2021, for two programs on behalf of a Fortune
500 consumer goods company;
- A leading Canadian bread brand that has been a customer since
2019; and
- A leading bedding company that has been a customer since
2020.
The marketing programs covered by the Agreements are scheduled
to be completed in 2022, for approximately $200,000 in licenses and rewards, with gross
margin expected to be between 40% and 50%, and with upside from
transaction fees and upsells.
"Our largest customer in 2021, one of the world's leading ad
agencies, continues to use PLATFORM3 for
marketing programs that it designs and implements for Fortune 500
consumer brands," said Robert Craig,
Datable's CEO. "Our track record of repeat business with customers
that have used our platform over the last several years shows that
our technology and team are delivering value in challenging
times."
Datable now has over $3.3 million
in revenue under contracts for 2022 and future periods, of which
over $3 million is expected to be
recognized as revenue in 2022. This includes over $2.9 million in contracted revenues and close to
$400,000 in expected program fees
from customers. Datable expects gross margin to be between 40% and
50% in 2022, depending on product mix.
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 world's 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.