Adcore Inc · TSX:ADCO
Adcore — Q4 2024 Earnings Presentation
23 slides from Adcore's earnings presentation, March 2025
Slide 1: Adcore's Q4 2024 & FY 2024 Earnings Call
T S X : A D CO | OTCQX : A D CO F Adcore's Q4 2024 & FY 2024 Earnings Call March, 2025
Slide 2: Hosts
Adcore's Q4 2024 & FY 2024 Earnings Call | March 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 Q4 2024 & FY 2024 Earnings Call | March 2025 Agenda • Forward Looking Statements • CEO Opening Remarks • CFO Financial Highlights • Q&A 3
Slide 4: Forward Looking Statements
Adcore's Q4 2024 & FY 2024 Earnings Call | March 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
Slide 5: CEO Opening Remarks
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 CEO Opening Remarks 5
Slide 6: Q4 2024 Report Highlights
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 Q4 2024 Report Highlights Record-Breaking Q4 and Year-End 2024 Financial Results 6
Slide 7: Quarterly Revenue
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 11.2 9 Quarterly 7.8 Revenue 6.9 6.6 CAD in million 3.7 3.7 3.9 3.1 2.9 Quarterly Revenue (↑24% YoY) Gross Profit (↑6% YoY) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 7
Slide 8: Quality Growth KPIs
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 3.9M 3.7M 3.7M 3.3M 3M 3.1M 2.9M Quality Growth KPIs Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 10.8M CAD in millions 8.1 M 8M 7.6 M 7.3M 6.7M 6.2M Gross profit Cash and cash equivalent Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Slide 9: Earnings Report Highlights Q4 2024
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 • Revenue: Grew 24% YoY Earnings • APAC revenue growth: Achieved a 58% year-over-year (YoY) increase • EMEA revenue growth: Achieved a 14% year-over-year (YoY) increase. Report • Net cash flow generated by operating activities: For the three mont
Slide 10: Earnings Report Highlights FY 2024
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 • Revenue: Grew 4% YoY. Earnings • APAC Revenue Growth: Increased by 25% YoY. • North America Revenue Growth: Recorded a 14% YoY increase. Report • Net Cash flow generated by operating activities: For the year ended Hightlights December 31, 2024,
Slide 11: Adjusted EBITDA
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Adjusted EBITDA CAD in thousands 2020 2021 2022 2023 2024 1600 1,544 1400 1,275 1200 1,145 996 1000 925 800 734 584 585 605 600 534 483 400 282 240 201 200 85 112 68 -173 -30 0 -200 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21
Slide 12: 2025 Growth Strategy: Accelerating Momentum
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 2025 Growth Strategy: Accelerating Momentum Scale Revenue 1 Targeting 25% growth to reach $40 million in annual revenue. Strengthen Profitability 2 6 straight quarters of positive Adjusted EBITDA and positive cash flow from operations in 2025. AI
Slide 13: Comparable Companies
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 ENTERPRISE EV / EV / COMPANY NAME TICKER MARK CAP VALUE (EV) GROSS EBITDA Comparable PROFIT Fluent Inc FLNT US 59 99 1.0 5.1 Criteo SA CRTO US 2,860 2,560 1.8 7.3 Companies Evertz Technologies Ltd Inuvo Inc ET TO INUV US 832 89 756 87 2.6 0.8 2
Slide 14: CFO Financial Highlights
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 CFO Financial Highlights 14
Slide 15: Comprehensive Income
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Comprehensive Income Three months ended Three months ended CAD in million December 31, 2024 December 31, 2023 YoY Revenues 11.2 9.0 +24% Cost of revenues 7.3 5.3 Gross profit 3.9 3.7 +6% RnD 0.7 0.6 SG&A 2.8 3.0
Slide 16: Revenues and Gross Profit
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Revenues and Gross Profit Quarterly Yearly CAD in ↑ 4% YOY ↑ 24% YOY millions 32.5 11.2 31.2 7.3 26.7 9 18.9 5.3 15.2 18.5 COR 13.6 11.5 12.7 3.7 3.9 +0.9M Gross profit Q4 2023 Q4 2024 2022 2023 2024 16
Slide 17: Q4 2024 Revenue Breakdown
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Q4 2024 Revenue Breakdown North America -14% YoY 16% of total APAC +58% YoY EMEA +14% YoY 50% of total 34% of total 17
Slide 18: Net Cash Generated by Operating Activities
4,000 Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 3,816 3,000 Net Cash Generated 2,000 by Operating Activities 1,000 1,056 CAD in thousands 0 Q4 2023 Q4 2024 18
Slide 19: Financial Position - Assets
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Financial Position - Assets CAD in million 31.12.24 31.12.23 Total CURRENT ASSETS capitalization Cash and cash equivalents 10.8 8.1 in the 3 months ended December Trade accounts receivable, net 6.6 6.1 31, 2024
Slide 20: Financial Position - Liabilities
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Financial Position - Liabilities CAD in million 31.12.24 31.12.23 Debt free CURRENT LIABILITIES Trade accounts payable 8.1 5.0 Other accounts payable 2.4 2.2 Lease liability 0.2 0.0 Total current liabilities 10.
Slide 21: Adjusted EBITDA
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 T S X : A D CO | O TCQX : A D CO F Adjusted EBITDA Three months ended Three months ended CAD in thousands December 31, 2024 December 31, 2023 Operating profit (loss) 410 106 Depreciation and amortization 441 387 Share-based payments 17 (10) Other
Slide 22: Q&A
Adcore's Q4 2024 & FY 2024 Earnings Call | March 2025 Q&A
Slide 23: Thank You.
Adcore's Q4 2024 & FY 2024 Earnings Call | March 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