VANCOUVER, British Columbia (March 9, 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, announces that it has signed a Master Services Agreement (the “MSA”) with a leading bedding company (the “Customer”).
The Customer is headquartered in the U.S. and sells its products under 4 major brands in about 150 countries. The Customer used PLATFORM3 for a trial program in 2020, before allocating a larger budget in 2021 (see press release dated May 6, 2021). The MSA sets out terms and conditions for marketing campaigns to be launched under a license to use PLATFORM3 to implement digital loyalty and rewards programs in the U.S. for two of its leading brands. In 2021, the Customer ran marketing and rewards campaigns on PLATFORM3 that generated over $200,000 in revenues for Datable. In 2022, the Customer has a budget of approximately $750,000 for marketing and rewards campaigns on PLATFORM3. The gross margin for these revenues is expected to be lower than the Company’s estimated gross margin of 50% this year, due to the product mix.
“We are very pleased that this customer has the confidence to allocate a significant budget to a program hosted on PLATFORM3 in 2022, after a challenging year in 2021,” said Robert Craig, Datable’s CEO. “This year, we expect all of our largest customers to renew their license agreements, with most upsizing the scope and scale of the software and services we provide.” Datable expects strong revenue growth in 2022, with close to $3 million in revenue under contract for 2022 and future periods. Datable expects their 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 recently announced estimated revenue growth of 77 percent to approximately $3.5 million for the year ended Dec. 31, 2021, compared with the same period in 2020, with the gross margin expected to be approximately 40 percent (see press release dated Feb. 16, 2022).
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 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 expectations. 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.