VANCOUVER, April 9, 2019 /CNW/ - Datable Technology Corp. (TSXV: DAC) (OTCQB: TTMZF) (the "Company" or "DTC"), formerly 3tl Technologies Corp., a technology company whose core product, PLATFORM3, is an integrated suite of digital marketing applications sold as Software-as-a-Service (SaaS), announces that it has signed four license agreements with leading brands including two repeat customers and two new customers. These agreements will generate over $190,000 in licensing revenues plus transactions revenues.
The first returning customer is a leading global distributor of theatrical and television products who has previously signed a two-year license agreement for a digital gift-with-purchase loyalty program. The distributor is a subsidiary of an American global mass media and telecommunications conglomerate that is one of the world's largest broadcasting and cable television companies. This new license agreement will extend the loyalty program for an additional twelve months.
The second returning customer, which has an annual revenue of approximately US$35 billion from 61 brands, will use PLATFORM3 to host a shopper marketing platform where consumers who purchase qualifying rice products can register and submit an image of their receipt on a branded Microsite to receive entries into a sweepstakes. Datable will be paid a licensing fee for the promotion, which is scheduled for the end of May 2019 and will run for ten weeks.
The first new customer is a Canadian-based multinational dairy company that produces, markets, and distributes a large selection of dairy products. This short-term license agreement includes a gift-with-purchase promotion for the purchase of select cottage cheese products. The promotion will begin in mid-May 2019 and will run for 21 weeks.
The second new customer is a popular family-own bakery known for its sweet Hawaiian bread. This customer has signed a short-term license agreement to launch a gift-with-purchase promotion where consumers can purchase two specific products and submit their receipt to receive a branded apron. Starting at the end of May 2019, this promotion will run for four weeks.
Under these agreements, the Customer will license PLATFORM3 to engage consumers via mobile devices, reward purchases and collect valuable consumer data. These promotions will utilize PLATFORM3's Artificial Intelligence and Data and Analytics modules which enable brands to monetize consumer data by deploying targeted offers based on their purchasing behaviour and demographics. PLATFORM3's cryptography-based security features will be utilized to protect consumer data in the process.
Additionally, Datable Technology Corp. announces an update for the quarter ended March 31, 2019 ("Q1 2019"). For the three months ended March 31, 2019, the Company achieved the following milestones:
- Sales orders totaled over $1.2 million that will generate revenue in 2019 and future periods.
- DTC signed eight new license agreements to provide PLATFORM3 to leading Consumer Packaged Goods (CPG) brands.
- The average dollar value of license agreements has increased by approximately 80% to $78,000 compared to 2018, including short-term targeted shopper marketing promotions and annual/multi-year SaaS licenses.
- Many of these agreements represent a growing trend of repeat business from leading U.S based consumer brands.
Estimated gross margin as a percentage of revenue for the three months ended March 31, 2019 was approximately 67 per cent compared with 72 per cent for the three months ended March 31, 2018. Gross margin as a percentage of revenue depends on the product mix for the reporting period. Revenues comprise a combination of higher-margin sales of PLATFORM3, the company's proprietary SaaS product, combined with some lower-margin third party services.
"Datable has gotten off to a great start in the first quarter of 2019 as repeat customers from major CPG brands make up a growing percentage of signed agreements. One of our largest clients has signed a twelve month extension agreement for their popular loyalty program and we continue to sign new and returning customers alike. Repeat business with leading brands shows that customers recognize our value proposition," said Robert Craig, Datable's CEO. "We are very pleased to continue our relationships with these clients."
About Datable Technology Corp.
DTC has developed a proprietary, mobile-based consumer marketing platform – PLATFORM³ – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM³ is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchases and collect valuable consumer data. PLATFORM³ incorporates Artificial Intelligence and Machine Learning 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.
For further information: Datable Technology Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, [email protected]