Business
Adcore Reports First Quarter 2026 Results: Revenue Up 22% to CAD $8.5 Million, as APAC Grows 42% to CAD $5.5 Million
(All figures in CAD unless otherwise stated) TORONTO, ON / ACCESS Newswire / May 14, 2026 ...
About this update from Adcore Inc
[{"type":"text","content":"Adcore Reports First Quarter 2026 Results: Revenue Up 22% to CAD $8.5 Million, as APAC Grows 42% to CAD $5.5 Million(All figures in CAD unless otherwise stated) TORONTO, ON / ACCESS Newswire / May 14, 2026 / Adcore Inc. (\"Adcore\" or the \"Company\") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ), a global marketing-technology company operating an AI-powered Marketing Cloud, today announced financial results for the three months ended March 31, 2026.Omri Brill, CEO and Founder of Adcore, commented: \"Q1 was a strong start to the year on both the top and middle of the P&L. Revenue grew 22% in Canadian dollars - and meaningfully more in U.S. dollar terms, since reported growth absorbs a ~4.5% strengthening of the Canadian dollar versus the U.S. dollar year-over-year. In the currency in which most of our revenue is actually transacted, growth is closer to 27%.\"Mr. Brill continued: \"APAC remains the engine, growing 42% . Just as importantly, North America - which softened through 2025 - is showing the first signs of stabilization, and our plan is to convert that into a positive trend as the year progresses. The Adjusted EBITDA swing to a small loss and the gross-margin compression reflect a higher-revenue, lower-margin product mix that we expect to normalize. The sequential drop in cash and working capital is overwhelmingly seasonal: a large portion of fourth-quarter holiday-campaign spend cycles in during Q4 and out during Q1 in our managed-media model, and we expect that pattern to reverse over the remainder of the year.\"Mr. Brill added: \"I'm particularly encouraged by the early results from two new AI product lines. Proposaly, our AI-native sales workflow platform, has shipped its first agent - the Inbound Agent - and is already generating very strong results in early production. Our AI Studio applications are receiving highly positive feedback from early beta users. These products give us a credible second engine for growth alongside the marketing-cloud business that has carried us to date.\"First Quarter 2026 Detailed HighlightsRevenue was CAD $8.5 million in Q1 2026 versus CAD $7.0 million in Q1 2025, an increase of 22%. On a constant-currency basis, growth in USD terms was approximately 27%.Gross profit was CAD $3.1 million in Q1 2026, versus CAD $3.1 million in Q1 2025, an increase of 1%. On a constant-currency basis, growth in U...