Slide 1: Adcore's Q3 2024 Earning call
T S X : A D CO | OTCQX : A D CO F Adcore's Q3 2024 Earning call November, 2024
Slide 2: Hosts
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Hosts Nick Campbell Omri Brill Amit Konforty Investor Relations CEO CFO 2
Slide 3: Agenda
Adcore's Q3 2024 Earning call | November 2024 Agenda • Forward Looking Statements • CEO Opening Remarks • CFO Financial Highlights • Q&A 3
Slide 4: Forward Looking Statements
Adcore's Q3 2024 Earning call | November 2024 This conference call contains certain forward-looking information and forward-looking statements (collectively “forward-looking information”), including statements about the Company. Forward-looking information may relate to Forward the Company’s financi
Slide 5: CEO Opening Remarks
Adcore's Q3 2024 Earning call | November 2024 CEO Opening Remarks 5
Slide 6: Q3 2024 Report Highlights
Adcore's Q3 2024 Earning call | November 2024 Q3 2024 Report Highlights Operational Efficiency Boosts Gross Margins 6
Slide 7: Quarterly Revenue
T S X : A D CO | O TCQX : A D CO F Adcore's Q3 2024 Earning call | November 2024 9 8.2 7.8 6.9 Quarterly 6.6 Revenue CAD in million 3.7 3.7 3.3 3.1 2.9 Quarterly Revenue (↓5% YoY) Gross Profit (↑12% YoY) Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 7
Slide 8: Quality Growth KPIs
41% 47% Adcore's Q3 2024 Earning call | November 2024 40% 3.7M 45% 44% 3.7M 3.3M 3.1M 2.9M Quality Growth KPIs Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 CAD in millions ↑27% YoY 2.1 M 2.1 M 2M 2M 1.6 M Gross margin North America revenue Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 8
Slide 9: Earnings Report Highlights Q3 2024
Adcore's Q3 2024 Earning call | November 2024 Q3 2024 Highlights Earnings • North America revenue growth: Achieved a 27% year-over-year (YoY) increase. Report • APAC revenue growth: Achieved a 26% year-over-year (YoY) increase. Hightlights • Gross margins: Increased to 47% compared to 40% in Q3 2023
Slide 10: Earnings Report Highlights 1-9/2024
Adcore's Q3 2024 Earning call | November 2024 Earnings 1-9/2024 Highlights • Gross Profit: Rose to CAD$9,675 thousand, an increase of CAD Report $598 thousand or 7% from the 9 months ended September 30, Hightlights 2023. • Gross Margins: Improved to 45%, compared to 41% in the same period last year.
Slide 11: Adcore 2024 Four Strategic Pillars
Adcore's Q3 2024 Earning call | November 2024 Adcore 2024 Four Strategic Pillars Technology Enterprise & 1 & AI 2 Aggregators Low Touch - 3 DIY 4 Synergy 11
Slide 12: Comparable Companies
T S X : A D CO | O TCQX : A D CO F Adcore's Q3 2024 Earning call | November 2024 ENTERPRISE EV / EV / Comparable COMPANY NAME TICKER MARK CAP VALUE (EV) GROSS EBITDA PROFIT Fluent Inc FLNT US 71 115 1.2 -2.0 Companies Criteo SA CRTO US 2,669 2,502 1.9 7.8 Evertz Technologies Ltd ET CN 622 577 1.9
Slide 13: CFO Financial Highlights
Adcore's Q3 2024 Earning call | November 2024 CFO Financial Highlights 13
Slide 14: Comprehensive Income
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Comprehensive Income Three months ended Three months ended CAD in million September 30, 2024 September 30, 2023 YoY Revenues 7.8 8.2 -5% Cost of revenues 4.2 4.9 -16% Gross profit 3.7 3.3 12% RnD 0.6 0.3 SG&A 3.2 3.0 Op
Slide 15: Gross Profit
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Gross Profit Quarterly Nine months Yearly CAD in Gross Profit ↑11% YoY millions Gross Profit ↑12% YoY Gross Profit ↑7% YoY 3.7 12.7 47% 9.7 11.5 3.3 41% 9.1 45% 10.8 40% 43% 41% 9.2 30% 40% Q3 2023 Q3 2024 9M 2023 9M 20
Slide 16: Q3 2024 Revenue Breakdown
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Q3 2024 Revenue Breakdown North America +27% YoY 27% of total APAC +26% YoY EMEA -39% YoY 42% of total 31% of total 16
Slide 17: Financial Position - Assets
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Financial Position - Assets CAD in million 30.09.24 31.12.23 Total CURRENT ASSETS capitalization in Cash and cash equivalents 6.7 8.1 the 3 months Trade accounts receivable, net 5.6 6.1 ended September 30,2024 was 0.25
Slide 18: Financial Position - Liabilities
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Financial Position - Liabilities CAD in million 30.09.24 31.12.23 Debt free CURRENT LIABILITIES Trade accounts payable 3.7 5.0 Other accounts payable 2.6 2.2 Lease liability 0.2 0.0 Total current liabilities 6.5 7.2 NON
Slide 19: Adjusted EBITDA
Adcore's Q3 2024 Earning call | November 2024 T S X : A D CO | O TCQX : A D CO F Adjusted EBITDA Three months ended Three months ended CAD in thousands September 30, 2024 September 30, 2023 Operating profit (loss) (122) 0 Depreciation and amortization 390 208 Share-based payments 14 32 Other non-ope
Slide 20: Q&A
Adcore's Q3 2024 Earning call | November 2024 Q&A
Slide 21: Thank You.
T S X : A D CO | OTCQX : A D CO F Thank You. For more information visit adcore.com/investors