Slide 1: Adcore's Q1 2025 Earnings Call
T S X : A D CO | OTCQX : A D CO F Adcore's Q1 2025 Earnings Call May, 2025
Slide 2: Hosts
Adcore's Q1 2025 Earnings Call | May 2025 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 Q1 2025 Earnings Call | May 2025 Agenda • Forward Looking Statements • CEO Opening Remarks • CFO Financial Highlights • Q&A 3
Slide 4: Forward Looking Statements
Adcore's Q1 2025 Earnings Call | May 2025 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 o
Slide 5: CEO Opening Remarks
Adcore's Q1 2025 Earnings Call | May 2025 CEO Opening Remarks 5
Slide 6: Q1 2025 Report Highlights
Adcore's Q1 2025 Earnings Call | May 2025 Q1 2025 Report Highlights A resilient Q1 2025 with strong cash growth, positive operating cash flow and record-breaking momentum from MediaBlast. 6
Slide 7: Quarterly Revenue
Adcore's Q1 2025 Earnings Call | May 2025 11.2 Quarterly 7.8 7 Revenue 6.9 6.6 CAD in million 3.1 3.7 3.9 3.1 Quarterly Revenue (↑2% YoY) 2.9 Gross Profit Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 7
Slide 8: Quality Growth KPIs
Adcore's Q1 2025 Earnings Call | May 2025 3.9M 3.7M 44% 3.1M 3.1M 2.9M Quality Growth KPIs Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 10.8M 10.6M CAD in millions 8M 7.3M 6.7M Gross profit Cash and cash equivalent Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 8
Slide 9: Earnings Report Highlights
Adcore's Q1 2025 Earnings Call | May 2025 • Strong Cash Position - Cash and cash equivalents at Earnings $10.6M — up 33% YoY. Report • Positive Operating Cash Flow - $263K net cash from operations vs. $13K last year — consistent improvement. Hightlights • Revenue Growth - Revenue rose 2% YoY to $7.
Slide 10: Media Blast
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F ARR (CAD in thousands) 2,500 ↑15% Growth MoM ↑292% YoY 2,250 ↑9% Growth MoM 2,326K ↑290% YoY ↑9% Growth MoM 2,000 Media ↑461% YoY 2,023K ↑329% YoY 1,750 1,861K Blast 1,701K 1,500 1,250 Strong momentum 1,000 750 500 593K 518
Slide 11: 2025 Growth Strategy: Accelerating Momentum
Adcore's Q1 2025 Earnings Call | May 2025 2025 Growth Strategy: Accelerating Momentum Scale Revenue Targeting 25% growth to reach $40 million in annual revenue. Strengthen Profitability 6 straight quarters of positive Adjusted EBITDA and positive cash flow from operations in 2025. AI-Driven Innovati
Slide 12: Comparable Companies
T S X : A D CO | O TCQX : A D CO F Adcore's Q1 2025 Earnings Call | May 2025 EV / ENTERPRISE GROSS EV / COMPANY NAME TICKER MARK CAP VALUE (EV) PROFIT EBITDA Comparable Fluent Inc Criteo SA FLNT US CRTO US 66 2,043 105 1,751 1.2 1.3 -4.6 4.5 Companies Evertz Technologies Ltd Inuvo Inc ET TO INUV U
Slide 13: CFO Financial Highlights
Adcore's Q1 2025 Earnings Call | May 2025 CFO Financial Highlights 13
Slide 14: Comprehensive Income
Adcore's Q1 2025 Earnings Call | May 2025 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, 2025 March 31, 2024 YoY Revenues 7.0 6.9 +2% Cost of revenues 3.9 3.8 Gross profit 3.1 3.1 RnD 0.6 0.6 SG&A 2.8 2.7 Operating profit (0.3)
Slide 15: Revenues and Gross Profit
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F Revenues and Gross Profit Quarterly Yearly CAD in ↑ 4% YOY ↑ 2% YOY millions 32.5 7 6.9 31.2 3.9 3.8 26.7 18.9 15.2 18.5 COR 13.6 11.5 12.7 3.1 3.1 +0.9M Gross profit Q1 2024 Q1 2025 2022 2023 2024 15
Slide 16: Q1 2025 Revenue Breakdown
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F Q1 2025 Revenue Breakdown North America -25% YoY 21% of total APAC +85% YoY EMEA -42% YoY 56% of total 23% of total 16
Slide 17: Net Cash Generated by Operating Activities
300 Adcore's Q1 2025 Earnings Call | May 2025 263 250 Net Cash 200 Generated 150 by Operating Activities 100 50 CAD in thousands 13 0 Q1 2024 Q1 2025 17
Slide 18: Financial Position - Assets
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F Financial Position - Assets CAD in million 31.03.25 31.12.24 Total CURRENT ASSETS capitalization Cash and cash equivalents 10.6 10.8 in the 3 months ended March 31, Trade accounts receivable, net 4.0 6.7 2025 was 0.39 Other
Slide 19: Financial Position - Liabilities
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F Financial Position - Liabilities CAD in million 31.03.25 31.12.24 Debt free CURRENT LIABILITIES Trade accounts payable 5.7 8.1 Other accounts payable 2.2 2.4 Lease liability 0.2 0.2 Total current liabilities 8.1 10.7 NON-CU
Slide 20: Adjusted EBITDA
Adcore's Q1 2025 Earnings Call | May 2025 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, 2025 31, 2024 Operating profit (loss) (254) (168) Depreciation and amortization 446 344 Share-based payments 2 25 Other non-operational
Slide 21: Q&A
Adcore's Q1 2025 Earnings Call | May 2025 Q&A
Slide 22: Thank You.
Adcore's Q1 2025 Earnings Call | May 2025 T S X : A D CO | O TCQX : A D CO F T S X : A D CO | OTCQX : A D CO F Thank You. For more information visit adcore.com/investors