Adcore Inc · TSX:ADCO
Adcore — Q4 2022 Earnings Presentation
24 slides from Adcore's earnings presentation, March 2023
Slide 1: Adcore's Q4 2022 and FY 2022 Earnings call
TSX: A DCO | OTCQX: A DCOF Adcore's Q4 2022 and FY 2022 Earnings call March, 2023
Slide 2: Hosts
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Hosts Yatir Sadot Omri Brill Gabriala Ashkenazy CFO CEO MARKETING 2
Slide 3: Agenda
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Agenda • Forward Looking Statements • CEO Opening Remarks • CFO Financial Highlights • Q&A 3
Slide 4: Forward Looking Statements
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 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 Compan
Slide 5: CEO Opening Remarks
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 CEO Opening Remarks
Slide 6: Quarterly Revenue
8.8 7.5 Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Quarterly Revenue 5.2 4.7 CAD in million 3.4 3.8 Revenue (↑17% QoQ) 2 2.1 Gross profit (↑12% QoQ) Q1 2022 Q2 2022 Q3 2022 Q4 2022 6
Slide 7: Quality Growth KPIs
YoY ↑30% 3.2M 3.4M 2M 3.8M 46% 2.1M 46% 43% 43% 3.2M 40% Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 33% 2M 2.3M Quality 23% 23% Growth KPIs Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 CAD in millions YoY ↑144% 2M 1.9M Gross margin 1.4M North America revenue 0.95M 0.
Slide 8: Improved KPIs
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 YoY growth: 2022 2021 diff % change Improved Revenues Gross profit 117,974 81,627 21,604 21,604 96,370 60,023 446% 278% KPIs QoQ growth: Q4/22 Q3/22 diff % change Classes revenues 18,379 6,800 11,579 170% B2B revenues 26,361 6,130 20,231 330%
Slide 9: Channel Partner of the Year
Adcore’s Q3 Earnings Call | November 2021 Channel Partner of the Year We're thrilled to announce that Adcore has been named Microsoft Advertising's EMEA Channel Partner of the Year award winner for 2022 9
Slide 10: Report Highlights
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Report Yearly Quarterly Highlights • Gross Margin improved from 30% to 43% YoY • Revenue grew 17% QoQ • Gross profit grew 12% • Client concentration QoQ declined from 51% to 32% • Amphy Q4 revenue was • North America and $60K ($118K in 2022 an
Slide 11: Comparable Companies
Comparable COMPANY NAME TICKER MARK CAP ENTERPRISE VALUE (EV) EV / GROSS PROFIT EV / EBITDA (ADJ) Companies AcuityAds Holdings Inc Tucows Inc Fluent Inc AT CA TC CA FLNT US 120 345 83 45 485 113 0.7 6.2 0.9 -68.3 40.1 -0.8 Criteo SA CRTO US 2,307 1,992 1.8 5.5 Significant share price upside Evert
Slide 12: Q4 Adcore Share Purchases by Company (NCIB)
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Q4 Adcore Share Purchases by Company (NCIB) Quantity Share Price Value (CAD) Company NCIB 715,500 0.29 $ 204,191 TOTAL 715,500 0.29 $ 204,191 12
Slide 13: Q1 2023 Guidance
T SX: A D CO | OTCQX: A D CO F Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Q1 2023 min max Guidance Revenue 6,000 28%↑ 6,500 38%↑ Gross profit 2,250 13%↑ 2,600 30%↑ Gross margin 38% 40% CAD in thousands 13
Slide 14: 2023 Targets
1 2 Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Maintain a strong balance Keep the gross 2023 Targets sheet with a focus on increasing cash reserves. margin within the 40% to 50% range 3 4 Achieve double-digit Expand our global growth in revenue, gross footprint in North profit and oper
Slide 15: CFO Financial Highlights
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 CFO Financial Highlights
Slide 16: Comprehensive Income
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Comprehensive Income Three months ended Three months ended CAD in million December 31, 2022 December 31, 2021 YoY Q4 Gross Revenues 8.8 9.7 -9% margin is 43% compared to Cost of revenues 5 6.5 -23% 33% YoY Gross
Slide 17: Quarterly revenue growth
10 8.8 17% Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 8 7.5 45% Quarterly 6 10% revenue 5.2 4.7 growth 4 2 43% CAD in million 45% 42% 40% 0 Q1 2022 Q2 2022 Q3 2022 Q4 2022 17
Slide 18: Revenue breakdown
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Revenue breakdown Quarterly revenue breakdown Key stratigic CAD in thousands Q4-2022 Q4-2021 diff % regions- APAC 3,495 6,315 (2,820) -45% North America EMEA 3,346 2,629 717 27% North America 1,924 789 1,135 144%
Slide 19: QoQ Revenues by regions
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F QoQ Revenues by regions 56% 3,500 87% 3% 3,495 CAD in 3,000 3,247 3,346 thousands 2,500 12% 6% 39% 2,246 -4% 2,000 -6% 2,001 2,005 1,924 1,888 1,844 50% 1,500 1,736 1,439 1,000 961 500 0 Q1 2022 Q2 2022 Q3 2022 Q
Slide 20: Financial Position - Assets
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Financial Position - Assets CAD in million 31.12.2022 31.12.2021 Adtech total CURRENT ASSETS capitalization Cash and cash equivalents 8.8 14.1 in the last 12 months ended Trade accounts receivable, net 6.3 3.7 De
Slide 21: Financial Position - Liabilities
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Financial Position - Liabilities CAD in million 31.12.2022 31.12.2021 Zero Debt CURRENT LIABILITIES Trade accounts payable 4.8 4.5 Other accounts payable 1.2 0.9 Lease liability 0.3 0.3 Total current liabilities
Slide 22: Adjusted EBITDA
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 T SX: A D CO | OTCQX: A D CO F Adjusted EBITDA Three months ended Three months ended CAD in thousands December 31, 2022 December 31, 2021 Operating profit 87 739 Depreciation and amortization 234 248 Share-based payments 93 158 Other non-opera
Slide 23: Q&A
Adcore's Q4 2022 and FY 2022 Earnings calll | March 2023 Q&A 23
Slide 24: Thank You.
TSX: A DCO | OTCQX: A DCOF Thank You. For more information visit adcore.com/investors