Datable Technology Corp. (DAC:TSX.V) announced in a news release it expects 2020 revenue to grow by more than 100%. The company has developed a "proprietary, mobile-based consumer marketing platform, PLATFORM³, that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands."
The company reported that at the end of the month, Datable's baseline contracted licenses were valued at $1.1 million, a 61% year-over-year (YOY) increase. About 83% of those are expected to be recognized as revenue in 2020.
"We expect strong revenue growth this year driven by long-term license agreements for PLATFORM³. These results are from our increased focus on selling PLATFORM³ as a long-term solution for brands wanting to engage consumers for extended periods of time," said Rob Craig, CEO of Datable. "Consumers today are fickle and jump from brand to brand. PLATFORM³ provides consumer brands with a solution to increase purchase frequency and extend consumer relationships in today’s challenging consumer market."
Datable has a pipeline of potential new customers, primarily large consumer brands in the U.S. and Canada, the company advised. Further, "new customers are expected to start with larger dollar value agreements than the initial agreements signed in 2018 and 2019," the release noted. In addition to existing baseline contracts and renewals, further revenue is anticipated from transactions. Expenses are expected to rise about 10% this year.
Looking back, full-year 2019 revenue was about $1.5 million, a 10% YOY revenue increase. Gross margin was roughly 70%.
"PLATFORM³ is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behavior, by sending consumers targeted offers by email and text messages," the company stated. [NLINSERT]
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