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REKLAIM LTD Announces Q4 & 2023 Outcomes: Achieving Profitability with $872K in Profit and a 74% Surge in Annual Revenue
REKLAIM LTD Announces Q4 & 2023 Outcomes: Achieving Profitability with $872K in Profit and a ...
About this update from Reklaim Ltd
[{"type":"text","content":"\n \n \n \n REKLAIM LTD Announces Q4 & 2023 Outcomes: Achieving Profitability with $872K in Profit and a 74% Surge in Annual Revenue\n \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 REKLAIM LTD Announces Q4 & 2023 Outcomes: Achieving Profitability with $872K in Profit and a 74% Surge in Annual Revenue\n \n \n Canada NewsWire\n \n \n \n \n \n Remarkable\n \n $872K\n \n Profit Marks a\n \n $5M\n \n Improvement Over the Past 12 Months.\n \n \n \n \n \n NEW YORK\n \n \n ,\n \n \n April 9, 2024\n \n \n /CNW/ -\n \n \n Reklaim\n \n \n , (TSXV: MYID)  (OTC: MYIDF) (\"Reklaim\"), the leading platform empowering consumers to access and reclaim their data, announces the release of its 2023 annual audited financial results for the year ending\n \n December 31, 2023\n \n .\n \n \n \n \n \n \n \n \n \n \n Key Highlights from Reklaim's 2023 Performance:\n \n \n \n \n Remarkable Financial Growth:\n \n \n \n \n Reklaim achieved 74% year-over-year revenue growth, reaching\n \n $4,111,927\n \n in 2023 compared to\n \n $2,361,110\n \n in 2022.\n \n \n Recorded profit of\n \n $872,139\n \n for 2023, a substantial improvement from a loss of\n \n ($4,147,069)\n \n in 2022, representing a remarkable\n \n $5,019,208\n \n turnaround over the past 12 months.\n \n \n Gross margins surged to 77% in 2023, reflecting an impressive 83% improvement compared to -6% in 2022.\n \n \n Reklaim demonstrated a consistent growth trajectory in Cash Flow From Operations over the year, reaching\n \n $58,513\n \n in 2024 vs. -\n \n $3,331,098\n \n in 2022, a significant enhancement of\n \n $3,389,611\n \n compared to the previous fiscal year.\n \n \n \n \n Record-Breaking Q4 Performance:\n \n \n \n \n Q4 2023 revenue reached an all-time high of\n \n $1,416,230\n \n , marking an impressive 97% surge compared to the same period in 2022.\n \n \n Sequentially, Q4 2023 revenue increased to\n \n $1,416,230\n \n from\n \n $923,966\n \n in Q3 2023, demonstrating a robust 53% growth.\n \n \n \n \n Recurring Revenue and Operational Efficiency:\n \n \n \n \n Achieved a re...