Datable’s customer and loyalty rewards platform has been driven by its Saas business model largely among US consumer brands.
Datable Technology Corporation (TSXV:DAC), a digital marketing firm that operates a machine learning-driven platform announced a 7 percent uptick in revenues, totaling C$2.2 million for the quarter. Over the quarter, its software-as-a-service model helped channel revenues with existing customers and 22 new license agreements.
As quoted in the press release:
“Our core SaaS business is getting stronger each quarter. In the first ten months of this year, we saw a significant increase in total contract value (by approximately 22%), of which 63% were returning customers. In addition to growing our core SaaS licensing business, we are continuing development on our consumer loyalty and rewards portal, the flexxi Rewards Network. We are in discussions with potential flexxi launch partners.” said Rob Craig, DTC’s CEO. “The flexxi Rewards Network will be an important step towards Datable owning its’ own 1st Party Data which we anticipate being a big driver of revenue in the coming years. The flexxi Rewards Network is built on top of DTC’s proprietary PLATFORM³ technology which dramatically reduces costs and time to market.”
Results of Operations:
Revenue for three months ended September 30, 2019 increased by 7% to $452,246 and revenue for the nine months ended September 30, 2019 decreased by 6% to $1,135,865, compared with the same period in 2018 due to the timing of revenue recognition from prior period and current year contracts. The Company’s PLATFORM³ product is an integrated suite of digital marketing applications sold as SaaS for short-term promotions or on an annual subscription basis with recurring revenues. Revenue in the period reflected recognition of revenue from previous year contracts and new sales of the PLATFORM³ product offering.