Business
Reklaim Announces Q3-2021 Financial Results and Provides Corporate Update
Continued Momentum with Sales up 1496%, Brands Purchasing Data up 127%, and New Features and F...
About this update from Reklaim Ltd
[{"type":"text","content":"Reklaim Announces Q3-2021 Financial Results and Provides Corporate UpdateContinued Momentum with Sales up 1496%, Brands Purchasing Data up 127%, and New Features and Functionality Expected to Drive Further Growth in 2022New York, New York--(Newsfile Corp. - November 30, 2021) - Reklaim, (OTCQB: MYIDF) (TSXV: MYID) (\"Reklaim\"), the destination for consumers to access and reclaim their data, announces the filing of Q3-2021 financial results for the three months ending September 30, 2021. Full financial results, reported in CAD dollars, and Management's Discussion and Analysis are posted to SEDAR (www.sedar.com) as well as on the Company's investor relations website: investors.reklaimyours.com. Q3-2021 Financial Highlights● YTD Revenue increased 1,496% to $558,342 from $34,973 in Q3-2020;● Quarterly revenue increase of 70% from Q2-2021 to Q3-2021;● YTD Sales and Marketing expenditures of $2,337,633 versus $581,045 during the nine months ended Sept 30, 2020, representing Reklaim's continued investment in building a strong North American sales presence;● Cash and cash equivalents as of June 30, 2021 of $2,031,753 compared to $1,519,500 at the year ended December 31, 2020.Q3-2021 Operational Highlights● Increased B2B data customers 15% from Q2-2021 to 75 as of the end of Q3-2021;● Increased B2B data customers by 127% since the beginning of the year;● Increased data distribution platforms by 1 in Q3-2021 vs. Q2-2021, bringing the total number of integrations to 15;● Reklaim has approximately +320 million user data profiles versus approximately 10,000 in Q2-2020;Corporate UpdateReklaim continues to successfully execute its business-to-business (B2B) strategy of selling unique segmented consumer data to a large and growing list of clients. In Q3-2021, the Company sold its data to 75 companies, up from 65 in the prior quarter. As the Company extracts increasingly unique insights from its 320 million user data profiles, the amount of data sold to existing clients should increase. The Company believes that the addition of more data is not required to continue to expand on its revenue strategy aggressively and that the Company is only capitalizing on a small percentage of its total market share potential. The Company's strategy of first scaling its data set, followed by platform distr...