VANCOUVER, B.C. (February 15, 2022) –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 expects revenues to grow by about 77% to approximately $3.5 million for the year ended December 31, 2021, compared to the same period in 2020, with gross margin expected to be approximately 40%.
Datable previously provided guidance that revenue would grow by 50% in 2021 (see press release dated November 10, 2021) but has increased its estimate due to a better than expected fourth quarter ended December 31, 2021. Revenue for the fourth quarter ended December 31, 2021, is expected to be about $1.35 million, an increase of 85% compared with the same period in 2020.
“We are pleased to report better than expected growth in 2021 and are confident that growth will continue in 2022. Earlier in 2021, some of our customers delayed marketing programs due to logistics challenges related to the COVID 19 pandemic. In the fourth quarter of 2021 some of our customers launched upsized programs on PLATFORM3, as they worked through logistics issues,“ said Robert Craig, Datable’s CEO. “We are now in discussions with our customers to renew and expand their licences and programs in 2022 and beyond and expect to add new customers this year. The recent changes in consumer data regulations and policies have increased interest in PLATFORM3 from leading consumer brands since all of our solutions use first-party opt-in consumer data.”
Most of Datable’s large customers are leading consumer packaged goods companies that provide staples including food, beverages, and household products, and entertainment companies that produce and distribute movies in theatres, and by streaming. Datable enables leading consumer brands to collect, analyze and monetize first-party opt-in consumer data with PLATFORM3.
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.