Slide 1: Adcore's Q1 2024 Earning call
T S X : A D CO | OTCQX : A D CO F Adcore's Q1 2024 Earning call May, 2024
Slide 2: Hosts
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Hosts Nick Campbell Omri Brill Amit Konforty Investor Relations CEO CFO
Slide 3: Agenda
Adcore's Q1 2024 Earning call | May 2024 Agenda • Forward Looking Statements • CEO Opening Remarks • CFO Financial Highlights • Q&A
Slide 4: Forward Looking Statements
Adcore's Q1 2024 Earning call | May 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 financial ou
Slide 5: CEO Opening Remarks
Adcore's Q1 2024 Earning call | May 2024 CEO Opening Remarks
Slide 6: Q1 2024 Report Highlights
Adcore's Q1 2024 Earning call | May 2024 Q1 2024 Report Highlights Operational Efficiency Boosts Gross Profit and Margins
Slide 7: Quarterly Revenue
T S X : A D CO | O TCQX : A D CO F Adcore's Q1 2024 Earning call | May 2024 9 8.2 6.8 6.9 6.9 Quarterly Revenue CAD in million 3.7 3 3.3 3.1 Quarterly Revenue (↑1% YoY) 2.7 Gross Profit (↑13% YoY) Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Slide 8: Quality Growth KPIs
41% ↑13% YoY Adcore's Q1 2024 Earning call | May 2024 40% 3.7M 45% 43% 3.3M 40% 3.1M 3M 2.7M Quality Growth KPIs Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 CAD in millions ↑30% YoY 2.1 M 2M 1.67 M 1.55 M 1.65 M Gross margin North America revenue Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024
Slide 9: Earnings Report Highlights
Adcore's Q1 2024 Earning call | May 2024 Q1 2024 highlights Earnings • Gross Profit Growth: Gross profit rose by 13% year-over-year (YoY) Report • Increase in Gross Margins: Gross margins improved from 40% to 45% YoY. Hightlights • Strong Revenue Growth in North America: Increased by 30% YoY. • Sign
Slide 10: 2024 Targets
Adcore's Q1 2024 Earning call | May 2024 2024 Targets 1 Maintain a strong balance 2 Keep the gross margin sheet with a focus on within the 40% to increasing cash reserves. 50% range. 3 4 Achieve double-digit Expand both our marketing growth in revenue, gross technology and marketing profit and opera
Slide 11: Adcore 2024 Four Strategic Pillars
Adcore's Q1 2024 Earning call | May 2024 Adcore 2024 Four Strategic Pillars Technology Enterprise & 1 & AI 2 Aggregators Low Touch - 3 DIY 4 Synergy
Slide 12: Rebound in Stock Price
T S X : A D CO | O TCQX : A D CO F Adcore's Q1 2024 Earning call | May 2024 Rebound in Stock Price 0.17c to - 0.235c ↑ 38% 3 months ↑ 27% 6 months ↑ 27% 12 months ↑ 0%
Slide 13: Comparable Companies
T S X : A D CO | O TCQX : A D CO F Adcore's Q1 2024 Earning call | May 2024 ENTERPRISE EV / EV / Comparable COMPANY NAME TICKER MARK CAP VALUE (EV) GROSS EBITDA PROFIT (ADJ) Fluent Inc FLNT US 58 76 1.0 -1.6 Companies Criteo SA CRTO US 2,126 1,960 2.2 11.2 Evertz Technologies Ltd ET TO 1,049 1,00
Slide 14: Adcore Share Purchases by the Company
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Adcore Share Purchases by the Company Quantity Share Price Value (CAD) Q1/24 Company NCIB purchase 79,500 0.21 $ 17,000 Quantity Share Price Value (CAD) Total accumulated NCIB purchases Including 04/24 1,969,500 0.26 $ 520,7
Slide 15: Social Responsibility
Adcore's Q1 2024 Earning call | May 2024 Social Responsibility There are currently over 100 amputee soldiers. We are here to help them. Provided over 800 pairs of bicycles and helmets for evacuated communities affected by October 7th events, raised over 500,000 shekels, aiming for 1 million to ensur
Slide 16: CFO Financial Highlights
Adcore's Q1 2024 Earning call | May 2024 CFO Financial Highlights
Slide 17: Comprehensive Income
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Comprehensive Income Three months ended Three months ended CAD in million March 31, 2024 March 31, 2023 YoY 1% growth in Revenues 6.9 6.8 1% Q1-24 vs. Q1-23 Revenues Cost of revenues 3.8 4.1 Gross profit 3.1 2.7 13% 13% incr
Slide 18: Total Revenues & Gross Profit
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Total Revenues & Gross Profit Quarterly Yearly CAD in ↑+17% YoY millions 35.7 Gross Margin ↑+13% YoY Gross Profit ↑+13% YoY 31.2 24.9 26.7 6.9 6.8 18.5 22.8 15.2 3.8 13.6 4.1 12.7 COR 11.5 41% 2.7 3.1 10.8 43% Gross 9.2 30%
Slide 19: Q1 2024 Revenue Breakdown
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Q1 2024 Revenue Breakdown North America +30% YoY 29% of total APAC +8% YoY EMEA -18% YoY 31% of total 40% of total
Slide 20: Net cash from (used in) operation activities
T S X : A D CO | O TCQX : A D CO F 1,000 Adcore's Q1 2024 Earning call | May 2024 500 Net cash 13 from (used in) 0 operation activities -500 -1,000 CAD in thousands (1,051) -1,500 Q1 2023 Q1 2024
Slide 21: Financial Position - Assets
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Financial Position - Assets CAD in million 31.03.24 31.12.23 Total CURRENT ASSETS capitalization Cash and cash equivalents 8.0 8.1 in the 3 months ended March Trade accounts receivable, net 4.5 6.1 31,2024 was 0.25 Other acc
Slide 22: Financial Position - Liabilities
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Financial Position - Liabilities CAD in million 31.03.2024 31.12.2023 Debt free CURRENT LIABILITIES Trade accounts payable 4.2 5.0 Other accounts payable 1.4 2.2 Total current liabilities 5.6 7.2 NON-CURRENT LIABILITIES Defe
Slide 23: Adjusted EBITDA
Adcore's Q1 2024 Earning call | May 2024 T S X : A D CO | O TCQX : A D CO F Adjusted EBITDA Three months ended March Three months ended March CAD in thousands 31, 2024 31, 2023 Operating profit (loss) (168) (245) Depreciation and amortization 344 229 Share-based payments 25 84 Total Adjustments 369
Slide 24: Q&A
Adcore's Q1 2024 Earning call | May 2024 Q&A
Slide 25: Thank You.
T S X : A D CO | OTCQX : A D CO F Thank You. For more information visit adcore.com/investors