VANCOUVER, BC, Nov. 10, 2021 /CNW/ – Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the “Company” or “Datable” or “DTC”), a software company that provides a marketing automation platform called PLATFORM3 to global consumer brands, is pleased to announce that it expects revenues to grow by about 50% to approximately $3 million for the year ended December 31, 2021, compared to 2020.
Datable has approximately $5 million in contracted revenue for 2021 and future periods, of which about 60% (approximately $3 million) is expected to be recognized as revenue in 2021. Accordingly, Datable expects to start 2022, with over $2 million in contracted revenues. Datable expects the gross margin to remain above 50%.
“We are pleased to report solid growth in 2021 despite logistics challenges due to the COVID-19 pandemic that caused some customers to delay programs until 2022. Our largest customers maintained or expanded their licences, and we added some new customers that are positioned to increase their budget for PLATFORM3 next year,” said Robert Craig, Datable’s CEO. “We expect our growth to continue accelerating in 2022 due to the addition of senior salespeople, the resolution of COVID related logistics issues and our new partnership with Dabbl”
Most of Datable’s large customers are leading CPG 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 access and monetize first-party opt-in consumer data with PLATFORM3 and with partners like Dabbl.
About Datable Technology Corporation
Datable has developed a proprietary, mobile-based consumer marketing platform – PLATFORM3 – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. 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 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.