Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Zoomd Technologies (ZOMD) has reported its financial results for the three and nine-month period ended September 30, 2021
  • Ofer Eitan, Zoomd’s CEO, sat down with Dave Jackson to discuss the results
  • Q3-2021 revenues increased 141 per cent compared to Q3-2020 and 43 per cent compared to Q2-2021 to a quarterly record of $16M
  • Positive cash flow from operations of $1.7M in the quarter, compared to ($1M) in Q3-2020
  • Zoomd offers a site search engine to publishers and a mobile app user-acquisition platform to advertisers
  • Zoomd Technologies Ltd. (ZOMD) is up 5.09 per cent on the day, trading at C$0.62 per share at 11:45 am ET

Zoomd Technologies (ZOMD) has reported its financial results for the three and nine-month period ended September 30, 2021.

Ofer Eitan, Zoomd’s CEO, sat down with Dave Jackson to discuss the results.

“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’ ROIs. The strong revenue growth is producing positive adjusted EBITDA and cash flows, demonstrating the strength of our business and strategic positioning.

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.”

Ofer continued, “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.”

Q3 highlights (US$)

  • Q3-2021 revenues increased 141 per cent compared to Q3-2020 and 43 per cent compared to Q2-2021 to a quarterly record of $16M, making the fourth consecutive quarter of revenue growth.
  • Adjusted EBITDA of $1.6M during the quarter, compared to ($0.9M) in Q3-2020 and an increase of 25 per cent relative to Q22021.
  • Positive cash flow from operations of $1.7M in the quarter, compared to ($1M) in Q3-2020.
  • Gross profit margin was 29 per cent for the three months ended September 30, 2021, versus 31 per cent for the same period last year.

Zoomd offers a site search engine to publishers and a mobile app user-acquisition platform to advertisers. 

Zoomd Technologies Ltd. (ZOMD) is up 5.09 per cent on the day, trading at C$0.62 per share at 11:45 am ET.

More From The Market Herald
The Market Herald Video

" Nextech AR (CSE:NTAR) (OTCQB:NEXCF) closes private placement and joins Khronos Group

Nextech AR (NTAR) has closed its previously announced capital raise and joined the Khronos Group as a contributor member.
The Market Herald Video

" Avrupa Minerals (TSXV:AVU) reports new drill results at the Sesmarias Prospect

Avrupa Minerals (AVU) reports that drilling continues at the Sesmarias Copper-Zinc Prospect within the Alvalade Project in Portugal.
Xigem Technologies - Director, Ezio D'Onofrio

" Xigem Technologies (CSE:XIGM) welcomes technology veteran to its board of directors

Xigem Technologies (XIGM) has appointed Mr. Ezio D’Onofrio, a technology industry veteran, to the company’s board of directors.

" Moovly Media (TSXV:MVY) signs reseller agreement with VMC Global, LLC

Moovly Media (MVY) has signed a reseller agreement with VMC Global, LLC.