Ackroo Announces 23 Percent Year over Year Revenue Growth for 2017

Ackroo (TSXV:AKR) has announced unaudited record revenue of $2.74 million for the year-end of December 2017.
As quoted in the press release:

This represents a 23% increase over the previous year and a 5 year cumulative average growth rate of 35% per year since the Company’s founding in 2012. The Company also increased the locations supported on its platforms to more than 4,000 by year’s end making further progress in reaching their goal of 10,000 + locations and $10 million of revenue, including $7 million of ARR, by 2022.
“The Company’s continued organic growth and ability to consolidate with our year end acquisition further validates our growth strategy,” said Steve Levely, chief executive officer of Ackroo. “We focused the bulk of 2017 on fully integrating our past acquisitions while continuing to drive organic growth through our channels and cross selling/upselling our customer base. We added several advancements to our platform to better support key segments for Ackroo like automotive and hospitality. Advancements, which include various point of sale integrations to help increase our addressable market, provide improved operational experience for our merchants while also driving additional product based point of sale data for Ackroo and our merchants. We released the first version of our business intelligence and marketing automation tools which will leverage this data to drive better insights and results for our merchants. We also refocused on the ecommerce aspect of our offering adding more personalization and payment options for our e-gift merchants while building enhancements for other cardholder applications. We then finished the year with the closing of our largest acquisition to date of KESM/LoyalMark. The acquisition not only added key talent, a substantial amount of large and small merchants in Canada and the US, but also will add close to $2 million of annual revenue to Ackroo in 2018 onwards and will push the Company into profitability in the process. A transformational change that has the Company poised for great success in 2018 and beyond.”
The Company cautions that figures for revenue have not been audited. Actual results may differ materially from those reported in this release once these figures have been audited. The Company expects to complete its 2017 audit in April to confirm revenue figures, along with other financial results.

Click here to read the full press release.