Canada markets close in 6 hours 13 minutes
  • S&P/TSX

    18,752.82
    -325.82 (-1.71%)
     
  • S&P 500

    3,758.55
    -60.28 (-1.58%)
     
  • DOW

    30,541.28
    -488.03 (-1.57%)
     
  • CAD/USD

    0.7754
    -0.0003 (-0.04%)
     
  • CRUDE OIL

    107.91
    -1.87 (-1.70%)
     
  • BTC-CAD

    24,359.44
    -1,513.68 (-5.85%)
     
  • CMC Crypto 200

    407.75
    -23.72 (-5.50%)
     
  • GOLD FUTURES

    1,819.90
    +2.40 (+0.13%)
     
  • RUSSELL 2000

    1,694.79
    -24.58 (-1.43%)
     
  • 10-Yr Bond

    3.0150
    -0.0780 (-2.52%)
     
  • NASDAQ

    10,956.52
    -221.38 (-1.98%)
     
  • VOLATILITY

    29.40
    +1.24 (+4.40%)
     
  • FTSE

    7,137.93
    -174.39 (-2.38%)
     
  • NIKKEI 225

    26,393.04
    -411.56 (-1.54%)
     
  • CAD/EUR

    0.7444
    +0.0019 (+0.26%)
     

DATABLE SIGNS CONTRACTS FOR PLATFORM³

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

VANCOUVER, BC, May 9, 2022 /CNW/ - 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 has signed four agreements (the "Agreements") with existing customers for marketing programs to be completed in 2022.

The customers include:

  • One of the world's largest digital ad agencies, Datable's largest customer in 2021, for two programs on behalf of a Fortune 500 consumer goods company;

  • A leading Canadian bread brand that has been a customer since 2019; and

  • A leading bedding company that has been a customer since 2020.

The marketing programs covered by the Agreements are scheduled to be completed in 2022, for approximately $200,000 in licenses and rewards, with gross margin expected to be between 40% and 50%, and with upside from transaction fees and upsells.

"Our largest customer in 2021, one of the world's leading ad agencies, continues to use PLATFORM3 for marketing programs that it designs and implements for Fortune 500 consumer brands," said Robert Craig, Datable's CEO. "Our track record of repeat business with customers that have used our platform over the last several years shows that our technology and team are delivering value in challenging times."

Datable now has over $3.3 million in revenue under contracts for 2022 and future periods, of which over $3 million is expected to be recognized as revenue in 2022. This includes over $2.9 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 product mix.

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 world's 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.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/May2022/09/c1796.html

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting