VANCOUVER, B.C. (August 12, 2022) – Datable Technology Corporation (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 signed an agreement (the “Agreement”) on August 10, 2022, with a leading advertising agency to enable a marketing program for a global consumer goods company.
The customer is the digital division of a leading advertising agency that has been licensing PLATFORM3 since 2019 to host its loyalty and consumer data programs on behalf of global consumer good companies that accounted for over $1 million in revenues for Datable in 2021. The end user is a global consumer goods company that has been using PLATFORM3 to implement marketing campaigns and collect consumer data for three of its 65 brands in 2021, accounting for over $500,000 in revenues for Datable in 2021.
This Agreement pays Datable approximately $380,000 in license and reward revenues and is scheduled to commence on November 1, 2022 and end on January 31, 2023. The gross margin on the revenues is expected to be less than Datable’s gross margin of 43% in the first quarter of 2022 due to the product mix.
“Over the last few weeks, we have signed annual and multi-year renewals with major customers as announced in previous releases. This agreement with our largest customer, who advises global consumer goods companies on how to allocate their digital marketing budgets, is a testament to the ROI we are delivering to their customers,” said Robert Craig, Datable’s CEO. “It is encouraging to see that our investment in building an enterprise-level SaaS consumer data and marketing platform is providing results for some of the world’s largest consumer brands driving and growing revenues for Datable.”
Datable now has over $4.4 million in revenue under contracts for 2022 and future periods, of which over $3.75 million is expected to be recognized as revenue in 2022. This includes over $4.0 million in contracted revenues and close to $400,000 in expected program fees from customers. Datable expects gross margin to be between 40% and 50% in 2022, depending on the product mix.
For further information, please contact:
Datable Technology Corporation
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 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.