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$1.16 Million in Revenue for Q1 August 31, 2020; Quarterly Revenue Growth of +83%[i]
DGTL Holdings Inc. (TSXV: DGTL) ("DGTL" or the "Company"), a venture capital investment company focused on the acquisition and acceleration of innovative AI (artificial intelligence) driven digital media technologies, announces its financial results for the three months ending August 31st, 2020. This quarterly financial report represents Q1 of fiscal 2021 and the first quarterly financial report since DGTL completed its qualifying transaction.
The reports reflects $1,162,469 in revenue for the three months ended August 31st, 2020. DGTL notes that Hashoff incurred $634,593 of revenue for the same quarter in 2019 which represents an +83% growth in revenue in the first quarter post-acquisition. Additional revenues from the five major new customers announced since September 1st, 2020 will be reflected in the Q2 financial report, and subsequent reports thereafter.
"We are pleased with the first quarterly financial report since our initial acquisition. Hashoff has performed well while managing integration, corporate development and day-to-day operations, during a global pandemic. Our team is dedicated to driving long-term shareholder value via solid revenue growth, sustainable gross margins and new accretive acquisitions", said Mike Racic, Chief Executive Officer of DGTL Holdings Inc.
The Company attributes Hashoff's revenue growth to the activation of DGTL's three-year revenue growth plan and positive campaign results from Hashoff's key accounts. Hashoff has also benefited from heightened demand for enterprise level CaaS (content-as-a-service) platforms which allow global brands to operate large-scale digital and social media marketing campaigns remotely, and in a more effective and cost-efficient way.
For information on The Company's audited annual and quarterly financial statements please reference filings at www.sedar.com or visit; https://dgtlinc.com/investors.
HASHOFF LLC
Hashoff is an enterprise level self-service CaaS (content-as-a-service) platform built on proprietary Artificial Intelligence and Machine Learning (AI-ML) technology. Hashoff's AI-ML platform functions as a full-service content management system, designed to empower global brands by identifying, optimizing, engaging, managing, and tracking, top-ranked digital content publishers for localized brand marketing campaigns. Hashoff is fully commercialized and currently serves numerous global brands by providing direct access to the new global gig-economy of over 140 million freelance content creators.
For an investor video on Hashoff LLC please visit; https://dgtlinc.com/hashoff.
Hashoff's customer portfolio includes large multinational corporations (MNCs) in a range of key growth categories. Global consumer packaged goods customers include Anheuser Busch-InBev, Nestle, Post Holdings, Danone and Keurig-Dr. Pepper, etc. Retail brand clients include; Dunkin Brands, The Container Store, TJ Maxx, Ulta Beauty and Pizza Hut, etc. Hashoff's clients in the Arts and Entertainment sector include; Live Nation, The CW and Scribd. Finally, healthcare sector clients include Syneos Health and Novartis.[ii]
Hashoff LLC is a wholly owned subsidiary of DGTL Holdings Inc.
DGTL Holdings Inc. acquires innovative and disruptive digital media and advertising technology companies, powered by Artificial Intelligence (AI). DGTL (i.e. Digital Growth Technologies and Licensing) specializes in accelerating fully commercialized enterprise level SaaS (software-as-a-service) companies via a blend of unique capitalization structures, including investment, M&A, earn outs and licensing structures. For more information on DGTL Holdings Inc. and its subsidiaries, please visit https://dgtlinc.com.
Investor Relations
Email: IR@dgtlinc.com
Phone: +1 (877) 879 - 3485
Forward Looking Statements
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable securities laws. These statements may relate to the Company's future financial outlook and anticipated events or results and include, but are not limited to, the expansion of its industry, its 2020 outlook, expectations regarding the Company's new customer acquisitions and management of operating expenses the effect these factors will have on its growth and profitability. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Many factors could cause the Company's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's management discussion and analysis dated October 30, 2020 for the fiscal quarter ended August 31, 2020 (the "MD&A"). A copy of the MD&A and the Company's other publicly filed documents can be accessed under the Company's profile on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in the MD&A is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. Except as required by law, DGTL does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
[i]Compared to same period of prior year. Q1 of the DGTL FYE (i.e. June - August) vs. same quarter from 2019. All currency stated is in Canadian dollars using a 0.76 exchange rate
[ii] Current and past customers
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