Key Highlights & Outlook
– Revenues in 2Q21 are expected to be $11.1M, a year-over-year increase of 96%
– Strong revenue growth was driven by the onboarding of new clients in recent months and growing existing customer’s business successfully
– Adjusted EBITDA in 2Q21 is expected to be $1.3M versus a $(0.76M) loss in 2Q20, reflecting robust topline growth
– Operating profit in 2Q21 is expected to be $0.6M versus a $(1.44M) loss in 2Q20
– Zoomd maintains its 2021 revenue growth guidance of 30% to 40%, reflecting the strong post-pandemic market recovery, the on-boarding of new clients, the launch of new product lines, and strategic M&A activity
Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://www.zoomd.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company“), the marketing tech (MarTech) user-acquisition and engagement platform, today announced preliminary 2Q21 results. Revenues in 2Q21 are expected to be $11.1M, a year over year increase of 96%. This represents the largest single quarter revenue generation in the Company’s history. Strong revenue growth was driven by the onboarding of new clients in recent months, growing existing accounts and the Company’s expansion into growth geographies such as Latin America and Asia. Adjusted EBITDA in 2Q21 is expected to be $1.3M versus a $(0.76M) loss in 2Q20, reflecting strong topline growth. Operating profit in 2Q21 is expected to be $0.6M versus a $(1.44M) loss in 2Q20.
“We are excited to return to strong revenue growth” said Ofer Eitan, Zoomd’s CEO, adding “over the last six months we have been successful in acquiring new customers in emerging industries such as fintech, gaming and E-commerce and in addition, our legacy clients are increasing their advertising budgets, as they are seeing great results with our platform. Our clients are adopting our newly released self-serve products, as it allows them the ability and autonomy to manage their advertising campaigns in real time. In addition, we now have our geographical footprint into Asia and Latin America. The visibility into our organic growth in the upcoming months, combined with our integration of the Performance Revenues acquisition and current M&A discussions, lead us to maintain our 2021 revenue growth guidance of 30% to 40%.”
Zoomd expects to release the 2Q21 financial results in August 2021.