VANCOUVER, BC, Sept. 13, 2022 /CNW/ - 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 three agreements (the "Agreements") on September 6th and 7th, 2022 with a leading health, hygiene and nutrition company and a leading advertising agency on behalf of a global consumer good company. The agreements are contracted to generate over $140,000 in revenues starting September 2022 and ending in January 2023 with gross margin expected to be consistent with Datable's gross margin of 42% for the six months ending June 30, 2022.
The leading health, hygiene and nutrition company first licensed PLATFORM3 in late 2021 for a consumer marketing program that ran in early 2022. The new Agreement is for a consumer marketing program that rewards consumers for buying products in two national retailers across the U.S. while collecting valuable first-party opt-in consumer data.
The advertising agency is the digital division of a global advertising agency that has been licensing PLATFORM3 since 2019 to host its loyalty and consumer data programs on behalf of global consumer goods companies that accounted for over $1 million in revenues for Datable in 2021. The end-user is a global consumer goods company that has used 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.
"These new agreements with repeat customers are further validation of the ROI our platform is providing to global consumer goods companies," said Robert Craig, Datable's CEO. "Now that all of our major customers have renewed their contracts in 2022, we will focus on adding new customers and scaling up with existing customers as we head in last quarter of 2022."
Datable now has close to $5 million in revenue under contracts for 2022 and future periods, of which over $3.8 million is expected to be recognized as revenue in 2022. This includes over $4.5 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.
Datable also announces that all of the resolutions proposed by management were approved by shareholders at its AGM held on September 9, 2022.
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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