Datable Technology Announces Q1 2018 Results

Datable Technology Corp (TSXV:DAC), formerly 3tl Technologies Corp., a technology company whose core product platform is an intergrated suite of digital marketing applications sold as Software-as-a-Service (SaaS) announced its financial results for the quarter ended March 31, 2018.

As quoted in the press release:

For Q1 2018, the Company achieved the following milestones:

• DTC signed 15 new license agreements to provide PLATFORM³ to leading Consumer Packaged Goods (CPG) brands.
• Revenue for Q1 2018 increased by 92% to $388,259 compared to revenue for the quarter ended March 31, 2017 (“Q1 2017”).
• The average dollar value of license agreements has increased by approximately 60% to $69,000 compared 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.

The Company is also pleased to provide the following 2018 updates:

• In 2018 year to date, DTC has signed 20 agreements which account for approximately $1.5 million in total contract value, of which 75% 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 $1.5 million in contracted revenues noted above only accounts for license and service fees, and does not include any transaction fees.
• The  Company’s  name  was  changed  to  “Datable  Technology  Corporation”  from  3tl Technologies Corp. effective May 18, 2018 (see press release dated May 18, 2018).

“We’ve gotten off to a running start in this first quarter of 2018, that is a testament to the value proposition delivered by our platform and our excellent customer service,” said Robert Craig, DTC’s CEO. “We continue to be encouraged by license renewals and extensions from repeat customers, success with new customers, longer-term agreements, and 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.”

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