VANCOUVER, British Columbia (March 29, 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 provided to global consumer brands, provides a corporate update.
Rapidly changing consumer privacy regulations and policies that require consumers’ permission to use their online data are driving the demand for first-party opt-in data solutions. Datable’s disruptive SaaS platform provides leading consumer brands with infrastructure and tools for the collection, analysis, and monetization of first-party opt-in consumer data.
Datable has proven the value of its enterprise-level platform—with a growing number of leading consumer goods companies using PLATFORM3 to connect directly with consumers, rewarding them for purchasing products and engaging with their brands while building valuable first-party consumer databases. PLATFORM3 includes software modules that are configured to automatically retarget consumers with relevant offers based on their purchasing behavior, demographics, and interactions with brand content. PLATFORM3’s Customer Data Platform (“CDP”) module provides consumer brands with a robust and highly secure infrastructure to host their consumers’ first-party data in an environment that meets all consumer laws and regulations regardless of the jurisdiction.
The CDP feature in PLATFORM3 is timely, based on the rapid growth expected from CDP offerings. The customer data platform market is expected to grow from US$1.16 billion in 2021 (U.S. 55%) to US$6.94 billion by 2029 (Statista Digital Advertising Report, December 2022). The Company’s products also provide solutions that improve return-on-investment (“ROI”) in the digital advertising market, which was valued at US$465.5 billion in 2021 (U.S. 40%), and is expected to grow to US$683.1 billion by 2026 (Fortune Business Insights, January 2022).
Datable recently announced estimated revenue growth of 77 percent to approximately $3.5 million for the year ended December 31, 2021, compared with the same period in 2020, with gross margin expected to be approximately 40 percent (see press release dated Feb. 16, 2022).
The Company is positioned for continued strong growth, with close to $3 million in revenue under contracts for 2022 and future periods. Datable expects gross margin to improve to about 50 percent in 2022, compared with approximately 40 percent in 2021, due to improved operational efficiency and product mix.
Datable expects continued revenue growth to be driven by the following:
Upselling existing customers: In 2021, Datable’s top 5 customers generated average revenues of close to $550,000 each. The Company’s largest customer generated revenue of approximately $1,080,000 in 2021, up from less than $100,000 in 2019. Over the last two years, Datable has provided PLATFORM3 to 31 leading consumer goods companies and ad agencies that have large budgets for digital marketing and consumer data platforms. Datable’s Strategic Services and Data Services team is focused on upselling customers by promoting enterprise-wide adoption and enhanced data monetization tools.
Add new customers: Datable’s sales team is targeting leading consumer goods companies with a focus on the U.S. and Canada. The Company’s track record of delivering quantifiable ROI has provided compelling case studies that have helped reduce sales cycles. The sales team will continue to work with ad agencies that package Datable’s PLATFORM3 into comprehensive marketing programs for consumer brands, which accounted for close to 40% of revenues in 2021.
New Revenue Streams by leveraging first-party consumer data partners: The Company’s customers have asked Datable to help amplify offers and accelerate the building of their consumer databases. Datable is in discussions with potential consumer data partners (consumer communities, portals and apps) to connect them with offers from leading consumer brands via PLATFORM³, adding value to Datable’s customers and a new revenue stream for Datable.
Identify acquisition targets: The fragmented, high-growth markets for digital marketing and customer data platforms provide opportunities for Datable to scale by acquisition. Datable believes that it can broaden the scope of its product and improve access to resources via the acquisition of companies with first-party consumer databases and data monetization technologies.
“We are pleased to report that all of our customers with annual and multi-year licences have renewed, because they recognize the ROI delivered by PLATFORM3, and the long-term value of first-party consumer data that we help them collect, analyze and monetize,” said Rob Craig, CEO of Datable. “Our team and technology has been tested and validated by some of the most demanding customers, including a growing number of Fortune 500 consumer goods companies. We have proven that we can deliver an enterprise-level solution and look forward to scaling up with existing and new customers.”
For further information, please contact:
Datable Technology Corp.
Chief Executive Officer
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 consumer data, including demographics and purchasing behavior, 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.