OTTAWA, Dec. 5, 2014 /CNW/ - Ackroo Inc. (TSX-V: AKR), a leading loyalty and rewards technology and services provider, announced their financial outlook and strategic objectives for 2015.
"We believe the key learnings from the past 2 years coupled with the evolution of our product, operations and customers, has set us up for a great 2015" said Steve Levely, chief executive officer at Ackroo. "After spending the greater part of 2014 focused on reducing our operational costs, stabilizing our customer base, solidifying our strategic partnerships and updating our product and solution offerings, we now look forward to growing our business by executing our strategic plan."
The highlights of the strategic plan are as follows:
- The Company will get to breakeven and achieve the following key financial goals via the closing of our soon to be announced private placement:
- Break-even: $2.1 million based on current operational structure
- Annual revenues: Increase by 50%+ for the next 3 years starting in 2015 resulting in revenues of $2-3 million in 2015, $3-$5 million in 2016 and $5-$10 million in 2017
- Net Margin: 45-50% on all revenue above $2.1m
- EPS: Based on post-consolidated 2015 share structure 2015: $0.01-$0.05
- Complete corporate restructuring and operational streamlining to substantially lower operating cost in 2015
- Continue to lower COGS through supplier negotiation and operational process enhancements
- Increase monthly recurring revenues (MRR) per location by delivering enhanced services and products to current and newly acquired customers
- Increase the total number of customer locations by at least 75% per annum
Product and Services Development:
- Continue to enhance the market leading Ackroo3 platform with specific focus on enhancing the merchant and cardholder experience
- Further broaden the core product offering via strategic integrations and partnerships
- Implement new currency types to allow greater flexibility for individual merchants
- Expand the platform to include mobile offers, processing and reporting
- Expand on platform language options to compliment French and English to support expansion in new markets such as Europe and China
- Further penetrate the over 200,000 merchant locations represented by the Company's referral partners and the over 1,000,000 locations represented by the Company's product partners
- Continue to develop and add resellers from various geographies, marketing services firms and the payment ecosystem
- Pursue and complete the acquisition or merger of at least 1 complimentary or competitive business
- Setup and execute a comprehensive investor relations campaign to create more awareness of and interest in Ackroo for investors and potential customers
"We believe that these goals and objectives provide the ideal base for Ackroo to grow in 2015" said Steve Levely. "We appreciate the continued strong support from our investors and look forward to expanding our business and continuing to provide the best solutions for our existing and future customer base."
These forecasts and forward-looking statements are not guarantees of future performance and activities and are subject to risks and uncertainties. The company has based these forward-looking statements on assumptions and assessments made by its management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, but are not limited to: the company's ability to raise enough capital to support the company's go forward plans; the overall global economic environment; the impact of competition and new technologies; general market, political and economic conditions in the countries in which the company operates; projected capital expenditures and liquidity; changes in the company's strategy; government regulations and approvals; changes in customers' budgeting priorities; plus other factors that may arise. Any forward-looking statements in this press release are made as of the date hereof, and the company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Ackroo is a SaaS based solution provider supplying gift card and loyalty solutions into the $160 billion North American gift card and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses to launch gift card & loyalty programs that deliver immediate return on investment. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Ackroo Inc.
For further information: Steve Levely, Chief Executive Officer | Ackroo, Tel: 613-599-2396 x730, Email: [email protected]