VANCOUVER, BC , June 8, 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
signed three new agreements (the "Agreements") in May 2022 with existing customers, for marketing
programs to be completed in 2022.
The customers include:
- A leading bedding company, that has been a customer since 2020,
signed their Agreement dated May 22,
2022;
- A Canadian based marketing and promotions agency on behalf of
one of their customers that signed their first agreement with
Datable in 2021 and most recently signed on May 27, 2022; and,
- A worldwide provider of innovative turf, landscape, irrigation
and lighting equipment and solutions, who has been using
PLATFORM3 to host its contractor loyalty
program since 2019, signed Agreement on May
31, 2022.
The marketing programs covered by the Agreements are scheduled
to be completed in 2022, and are contracted to generate over
$100,000 in license and rewards
revenues, with gross margin expected to be between 40% and 50%, and
with upside from transaction fees and upsells.
"We appreciate repeat business from customers that have used
PLATFORM3 to host long term loyalty and
consumer data programs and others that use our technology to
implement targeted marketing campaigns," 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 is
delivering value in challenging times."
Datable now has over $3.4 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 over $3 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 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.