Datable Technology (TSXV:DAC), formerly 3tl Technologies announced its financial results for the quarter ended June 30, 2018. The company reported that its revenue increased by 40 percent to C$721,027 and that its average dollar value of license agreement has increased by approximately 33 percent to C$53,000. As quoted in the press release: For six months …
Datable Technology (TSXV:DAC), formerly 3tl Technologies announced its financial results for the quarter ended June 30, 2018.
The company reported that its revenue increased by 40 percent to C$721,027 and that its average dollar value of license agreement has increased by approximately 33 percent to C$53,000.
As quoted in the press release:
For six months ended June 30, 2018, the Company achieved the following milestones:
- DTC signed 24 new license agreements to provide PLATFORM³ to leading Consumer Packaged Goods (CPG) brands.
- Revenue increased by 40% to $781,027 compared to revenue for the six months ended June 30, 2017.
- The average dollar value of license agreements has increased by approximately 33% to $53,000compared to 2017, 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.
Subsequent to the end of Q2 2018, the Company completed a non-brokered private placement of 13,569,865 units of the Company at $0.105 per Unit for gross proceeds of approximately $1,424,835 (see press release dated August 8, 2018).
The Company is also pleased to provide the following 2018 updates:
- In 2018 year to date, DTC has 38 signed agreements which account for approximately $1,640,000in total contract value, of which approximately 77% is expected to be recognized as revenue in 2018.
- DTC has several annual agreements where PLATFORM³ hosts an ongoing digital loyalty and rewards program. DTC is generally paid an annual license fee plus transactions fees based on the number of times consumers validate purchases using PLATFORM³. The $1,640,000 in contracted revenues noted above only accounts for license and service fees and does not include any transaction fees.
- The Company shared its plans for P³Consumer, a consumer data platform that will enable consumers to secure, control and monetize their data. P³Consumer will leverage blockchain technology and protocols for performing secure multiparty computation to provide a secure, transparent, efficient and scalable platform. Both of these technologies use distributed cryptography to remove the need to entrust a third party to execute a transaction (see press release dated May 29, 2018).
“We continue to see increased interest in our platform from repeat customers who return to sign longer-term agreements with us,” said Robert Craig, DTC’s CEO. “We are very proud of our progress and growth in customer retention rates in this second quarter. It is further confirmation of PLATFORM³’s ability to drive ROI for our customers with its various modules such as: Contests & Promotions, Purchase Receipt Validation, Loyalty, Rewards & Gamification, Data Capture & Analytics, and Retargeting & Automated Messaging. We would also like to thank investors for their continued financial support in the financing completed after the second quarter, and note that, as disclosed previously, management participated in this round.”