Reklaim's Q2 Revenue Highlights Consistent
Growth and Strategic Expansion in Deals Revenue
NEW
YORK, Aug. 20, 2024 /CNW/ - Reklaim, (TSXV:
MYID) (OTC: MYIDF) ("Reklaim"), the leading platform
empowering consumers to access and reclaim their data, is pleased
to announce its second-quarter results and positive EBITDA for the
period ending June 30, 2024.
Key Highlights from Reklaim's Q2-2024 Performance:
- Positive EBITDA: Reklaim achieved a positive EBITDA of
$154,290 in Q2 2024, marking a
continued profitability trajectory.
- Record Revenue for Q2: Reklaim reported its highest Q2
revenue ever, posting revenue of $1,099,696, a 5% increase over Q2 2023,
reflecting strong market demand.
- Significant Cash Flow Improvement: Year-to-date (YTD) positive
cash flow from operations reached $258,350, a remarkable improvement compared to
$612 for the same period last
year.
- Sustained Gross Margins: Reklaim maintained robust gross
margins at 80%, underscoring operational efficiency and disciplined
cost management.
- Deals Revenue Surge: The company's Deals revenue stream
increased by 6% in Q2 and 31% YTD, highlighting Reklaim's
ability to diversify and scale its revenue base.
Strategic Achievements and Financial Strength
Reklaim's Q2 2024 results underscore the company's ability to
deliver strong financial performance while consistently driving
strategic growth. The continued success in the Deals revenue
stream, a combination of Reklaim data and publisher inventory in a
vertically integrated deal, reflects Reklaim's proactive approach
to diversifying its business model, enabling sustained revenue
growth and enhanced financial resilience.
The company's ability to maintain high gross margins, alongside
a significant increase in cash flow, illustrates Reklaim's
commitment to operational excellence and prudent financial
stewardship. These results highlight Reklaim's adaptability in
navigating a rapidly evolving market landscape, positioning the
company for future success.
Leadership Perspective
Neil Sweeney, Founder and CEO of
Reklaim, is excited about the company's achievements in Q2 2024. He
states, "Our performance this quarter is a testament to Reklaim's
strategic vision and our team's focus on execution. We have
diversified our revenue streams and strengthened our financial
foundation, ensuring we are well-positioned for sustained growth.
As we move forward, our commitment to empowering consumers and
driving innovation remains stronger than ever."
Looking Ahead
Reklaim continues empowering consumers to take control of their
data while expanding its AI privacy initiatives. Investors are
encouraged to read Reklaim's MD&A for more detail on
market trends and their impact on Reklaim.
Full financial results, reported in CAD dollars, and
Management's Discussion and Analysis are posted to SEDAR
(www.sedar.com) and on the Company's investor relations
website: investors.reklaimyours.com. We encourage you to
review these results to gain a comprehensive understanding of
Reklaim's financial performance and strategic direction.
About Reklaim
Reklaim is committed to navigating the evolving landscape of
consumer data privacy. We provide compliant, zero-party data
solutions to Fortune 500 brands, platforms, and data companies. Our
platform empowers consumers to reclaim control over their data,
enabling them to view and manage information collected with direct
authorization. Moreover, users can be compensated for their data
through a Reklaim account. Discover more about Reklaim at
https://investors.reklaimyours.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as 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 statements and
other statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will," "may,"
"should," "anticipate," "expects," and similar expressions. All
statements other than statements of historical fact included in
this release, including, without limitation, statements regarding
the closing of the Debt Settlement and TSXV approval of the Debt
Settlement, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from
the Company's expectations are risks detailed from time to time in
the filings made by the Company with securities regulators.
The reader is cautioned that assumptions in preparing
forward-looking information may prove incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted due to numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of the Company. As a result, the Company cannot guarantee
that any forward-looking statement will materialize, and the reader
is cautioned not to place undue reliance on any forward-looking
information. Although considered reasonable by management during
preparation, such information may prove incorrect, and actual
results may differ materially from those anticipated. This
cautionary statement expressly qualifies forward-looking statements
contained in this news release. The forward-looking statements in
this news release are made as of the date of this news release. The
Company will only update or revise any included forward-looking
statements as expressly required by Canadian securities
law.
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SOURCE Reklaim Ltd.