VANCOUVER, BC, Sept. 13,
2022 /CNW/ - Datable Technology Corporation
(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 agreements (the "Agreements") on September 6th and 7th, 2022
with a leading health, hygiene and nutrition company and a leading
advertising agency on behalf of a global consumer good company. The
agreements are contracted to generate over $140,000 in revenues starting September 2022 and ending in January 2023 with gross margin expected to be
consistent with Datable's gross margin of 42% for the six months
ending June 30, 2022.
The leading health, hygiene and nutrition company first licensed
PLATFORM3 in late 2021 for a consumer
marketing program that ran in early 2022. The new Agreement is for
a consumer marketing program that rewards consumers for buying
products in two national retailers across the U.S. while collecting
valuable first-party opt-in consumer data.
The advertising agency is the digital division of a global
advertising agency that has been licensing
PLATFORM3 since 2019 to host its loyalty
and consumer data programs on behalf of global consumer goods
companies that accounted for over $1
million in revenues for Datable in 2021. The end-user is a
global consumer goods company that has used
PLATFORM3 to implement marketing campaigns
and collect consumer data for three of its 65 brands in 2021,
accounting for over $500,000 in
revenues for Datable in 2021.
"These new agreements with repeat customers are further
validation of the ROI our platform is providing to global consumer
goods companies," said Robert Craig,
Datable's CEO. "Now that all of our major customers have renewed
their contracts in 2022, we will focus on adding new customers and
scaling up with existing customers as we head in last quarter of
2022."
Datable now has close to $5
million in revenue under contracts for 2022 and future
periods, of which over $3.8 million
is expected to be recognized as revenue in 2022. This includes over
$4.5 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 the product mix.
Datable also announces that all of the resolutions proposed by
management were approved by shareholders at its AGM held on
September 9, 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.