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TICKERS: ADCO

Machine Learning Tech Firm Posts Record Q1/19, Starts Trading on Venture Exchange
News Update

Source:

The Canadian company delivered strong growth, exceeding its expectations.

Adcore Inc. (ADCO:TSX.V) announced in a news release that Q1/19 was another record quarter for the corporation, with revenue and EBITDA having increased significantly year over year (YOY). Also, Adcore recently began trading on the TSX Venture Exchange under the symbol ADCO.

For the quarter ended March 31, 2019, Adcore's revenue was $3.3 million, up 34% over that of Q1/18. Adjusted EBITDA was $1.3 million, a 288% YOY increase. Total working capital was $416,000. Cash and cash equivalents totaled $1.66 million.

"We couldn't have asked for a stronger start to 2019," said CEO Omri Brill in the release. "The Q1/19 results have affirmed the corporation's bullish outlook for 2019."

The provider of machine learning-powered advertising technologies "continued to invest in its global sales and marketing team and its industry leading technology," the release noted, "including the launch of the brand new click-to-fix' feature of the SEMDOC2 platform."

In other news, on May 27, Adcore Inc. completed its acquisition of all of the issued and outstanding securities of its subsidiary, Podium Advertising Technologies Ltd. doing business as ADCORE. It also closed its brokered private placement of subscription receipts at CA$0.50 apiece for gross proceeds of $2,558,500.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Adcore, a company mentioned in this article.




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