Zoomd Delivered A Fourth Consecutive Quarter Of Growth In Both Revenue And Adjusted EBITDA, Achieving An Adjusted EBITDA Increase Of More Than US$5m For The Nine Months Ended September 30, 2021 Compared To The Same Period In 2020
VANCOUVER, BC, Nov. 22, 2021 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) ("Zoomd" or the "Company"), a leading provider of an online advertising robust marketing platform that focuses on improving customers user acquisition campaigns, reported its financial results for the three and nine-month period ended September 30, 2021 today. The financial statements and MD&A are available on SEDAR under the Company's profile.
Ofer Eitan, Zoomd's CEO, commented, "we achieved a new record in Q3 2021 as our focus on diversifying our client base, both with respect to sectors and geographies, is beginning to bear fruit. We are seeing a surge in budgets from our legacy clients that are looking to expand their acquisition sources, as the post-pandemic recovery continues and privacy limitations start affecting advertisers ROI's. The strong revenue growth is producing positive adjusted EBITDA and cash flows, demonstrating the strength of our business and strategic positioning."
Ofer further added, "we are continuing to experience strong demand for our user-acquisition products and services from both new and existing clients, driven by our innovative technology, and the great results our existing clients are achieving with our technology. We are seeing an increase within the allocation of advertising budgets to our platform and services, which we consider to be a direct result on the Company's ability to mitigate against the impacts of the major iOS 14, 15 updates and other new market privacy limitations rolled out, as well as announced by Apple and Google.
Ofer ended by noting that, "our growth initiatives to expand into new geographies, such as Latin America and Asia, as well as expanding in hyper growing industry categories including fintech, e-commerce, gaming, and on demand services, have proven successful. As we look forward to 2022 and beyond, we expect to ramp up our self-serve products to expand our client base and further the growth of the Company."
THIRD QUARTER 2021 KEY HIGHLIGHTS (ALL FIGURES ARE IN USD)
THIRD QUARTER 2021 HIGHLIGHTS (ALL FIGURES ARE IN THOUSANDS USD)
Zoomd management will host a conference call on November 23, 2021 at 11:00 a.m. ET to discuss the third quarter's results.
Please join the call using the following link: https://zoomd.com/investors/ or at https://www.webcaster4.com/Webcast/Page/2473/43788
Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers' goals and targets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING NON-IFRS FINANCIAL MEASURES
This press release refers to "Adjusted EBITDA" which is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS. The Company's presentation of this preliminary financial measure may not be comparable to similarly titled measures used by other companies. This preliminary financial measure is intended to provide additional information to investors concerning the Company's estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, as adjusted for share-based payments, and is a measure of a company's operating performance. Essentially, it's a way to evaluate a company's performance without having to factor in financing decisions, accounting decisions or tax environments.
Management uses this non-IFRS measure as a key metric in the evaluation of the Company's performance and the consolidated financial results. The Company believes Adjusted EBITDA is useful to investors in their assessment of the operating performance and the valuation of the Company. However, non-IFRS financial measures are not prepared in accordance with IFRS, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. The references in this press release to Adjusted EBITDA are forward-looking information about prospective financial performance and readers are cautioned that this information may not be appropriate for other purposes.
Please refer to the Company's MD&A for the three and nine-month period ended September 30, 2021 for a reconciliation of EBITDA and Adjusted EBITDA to Operating Gain (Loss) for the three and nine months ended September 30, 2021, and 2020.
DISCLAIMER IN REGARD TO FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect Zoomd's future ability to successfully continue its growth, its ability to continue to deliver products and services largely unimpacted by the privacy updates undertaken (or will be undertaken in the future) by Google and Apple as well as its ability to continue expanding into new geographies and industries. Forward-looking statements are based on our current assumptions, estimates, expectations and projections that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, technological, legal, privacy matters, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd's business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.
 "Adjusted EBITDA" is a NON-IFRS financial measure. See "Caution Regarding Non-IFRS Financial Measures".
 "big customers" are considered customers that produce an average monthly revenue of more than US$100,000.
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SOURCE Zoomd Technologies Ltd.
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