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Freckle Reports Financial Results for Fiscal 2019
Freckle Reports Financial Results for Fiscal 2019 Canada NewsWire TORONTO, March...
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[{"type":"text","content":"\n\n\n\nFreckle Reports Financial Results for Fiscal 2019\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 9, 2020\n\n\n\nDouble digit quarter over quarter revenue growth from measurement and data products supplemented with improving traction from Killi identity product\n TORONTO, March 9, 2020 /CNW/ - Freckle Ltd. (TSXV: FRKL) (the \"Company\"), a leader in privacy-compliant data and offline media measurement, announces its financial results for the year ended December 31, 2019 (\"2019\"). \n\n \n \n \n \n \n \n\n \n Financial Highlights\nQ4 2019 revenue was $1.0 million, up 17% versus $862,000 in the year-ago quarter and up 17% versus $863,000 in Q3 2019; Full year 2019 revenue of $3.5 million increased 11% versus $3.1 million in 2018; Recurring revenue, year to date, increased to 64% of total revenue versus 30% in 2018; Q4 2019 gross margin was 58% versus 67% in Q4 2018 and 73% in Q3 2019; Full year 2019 gross margin of 66% compared to 68% in fiscal 2018; Cash balance of $2.4 million and zero corporate debt.Killi Product Highlights for Q4 2019\nAverage Revenue Per User (ARPU) per month improved by 250% from Q3 2019 to Q4 2019 and 827% from 2018 to 2019; Cost Per Acquisition for new users (CPA) decreased 9% from Q3 2019 to Q4 2019, and 22% from 2018 to 2019; Integrated a second leading international third-party survey provider, creating additional high-margin, recurring international revenue; Integrated an incentivized mobile video provider, providing Killi users with compensation for every video they view; Launched the Killi application in the Asia Pacific region (APAC) with distribution in Singapore, Australia and New Zealand bringing total global markets to five, and total addressable audience to approx 400m; Combination of reduced CPA plus increased ARPU is accelerating core unit economics towards cash neutral user acquisition model where revenue equals acquisition cost.Freckle Product Highlights for Q4 2019\nA successful focus on the USA market lead to 87% of 2019 revenue be...