- Zoomd Technologies Ltd. (ZOMD) reports record-breaking financial results for the fourth quarter and fiscal year ending December 2021
- 2021 revenues increased 107 per cent year-over-year to a record $52.6 million
- Zoomd is expecting its revenues growth in 2022 to be in the range of $74 to $80 million
- Fourth-quarter revenues increased 183 per cent year-over-year to $18.7 million
- Zoomd Technologies Ltd. (ZOMD) is down 5.36 per cent trading at $0.53 per share as of 4:03 p.m. ET
Zoomd Technologies (ZOMD) has reported record-breaking financial results for the fourth quarter and fiscal year ending December 2021.
2021 revenues increased 107 per cent year-over-year to a record $52.6 million.
Zoomd is expecting its revenue growth in 2022 to be in the range of $74 to $80 million, representing year-over-year growth of approximately 50 per cent. The outlook is based on certain assumptions, all of which management considers to be reasonable.
Operating profit was $3 million for 2021 compared to an operating loss of $5.2 million from its previous financial year.
Achieved record positive adjusted EBITDA of $5.8 million during 2021, the highest level as a public company. This led to an $8.4 million adjusted EBITDA increase year-over-year.
The company achieved positive cash flow from operations of $3.8 million in 2021 and ended its 2021 fiscal year with a cash balance of $5.2 million and no long-term debt.
Fourth-quarter revenues increased 183 per cent year-over-year, to a quarterly record of $18.7 million, being its fifth consecutive quarter of growth.
The strong revenue results were driven primarily by the onboarding of new clients in recent months, growth in spending of legacy clients and expansion into new growth geographies. Its clients are continuing to increase their budgets with Zoomd.
Apple’s iOS14+ privacy changes also helped drive new customers to Zoomd’s platforms
Ofer Eitan, Zoomd’s CEO commented on the results.
“Our talented team and innovative platforms are continuing to provide strong [return on investement] for our clients all over the globe, resulting increased allocation of advertising budgets… Zoomd is taking share in the growing marketing technology space and expects to accelerate that share gain in 2022.”
Zoomd Technologies Ltd. (ZOMD) is down 5.36 per cent trading at $0.53 per share as of 4:03 p.m. ET.
