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VANCOUVER, BC , June 8, 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 signed three new agreements (the "Agreements") in May 2022 with existing customers, for marketing programs to be completed in 2022.
The customers include:
A leading bedding company, that has been a customer since 2020, signed their Agreement dated May 22, 2022;
A Canadian based marketing and promotions agency on behalf of one of their customers that signed their first agreement with Datable in 2021 and most recently signed on May 27, 2022; and,
A worldwide provider of innovative turf, landscape, irrigation and lighting equipment and solutions, who has been using PLATFORM3 to host its contractor loyalty program since 2019, signed Agreement on May 31, 2022.
The marketing programs covered by the Agreements are scheduled to be completed in 2022, and are contracted to generate over $100,000 in license and rewards revenues, with gross margin expected to be between 40% and 50%, and with upside from transaction fees and upsells.
"We appreciate repeat business from customers that have used PLATFORM3 to host long term loyalty and consumer data programs and others that use our technology to implement targeted marketing campaigns," 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 is delivering value in challenging times."
Datable now has over $3.4 million in revenue under contract for 2022 and future periods, of which over $3 million is expected to be recognized as revenue in 2022. This includes over $3 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 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.
SOURCE Datable Technology Corp.
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