TORONTO, ON / ACCESSWIRE / July 13, 2023 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ), a leading e-commerce advertising management and automation platform to leverage digital marketing in an effortless and accessible way ("Effortless Marketing"), today provided preliminary guidance for its second quarter ending June 30, 2023.
Second Quarter 2023 Guidance
With the Company's visibility today, Adcore expects revenue in the second quarter 2023 to be in the range of CAD $6.25 million to CAD $6.75 million, with expected gross profit ranging between CAD $2.4 million and CAD $2.8 million and expected gross margin of 40% to 45%.
Omri Brill, CEO of Adcore commented, "I am very happy with Adcore's performance so far this year, which is a testament to the hard work and dedication of our teams worldwide. We are optimistic about the progress we've made and the opportunities that lie ahead. Today we can share the company's preliminary guidance for Q2 2023. Our visibility for the second quarter indicates an anticipated revenue range of CAD $6.25 million to CAD $6.75 million. This reflects the traction we're gaining in our core markets and the increasing value we're delivering to our clients. Our expected gross profit is projected between CAD $2.4 million and CAD $2.8 million, with a gross margin of 40% to 45%. This is a testament to our operational efficiency and the robustness of our financial model. We remain committed to maintaining strong margins while delivering high-quality services and products to our clients."
Adcore is empowering entrepreneurs, advertisers, and the future of e-commerce through its advertising management and automation platform. By combining extensive industry knowledge and experience with its proprietary artificial intelligence (AI) powered technology, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. In addition to being named numerous times on Deloitte's Fast 50 Technology list, Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
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This press release contains certain forward-looking statements, including statements about the Company. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
Martijn van den Bemd,
Chief Partnerships Officer
Telephone: 905-326-1888 ext 1
Investor Relations Europe
Dr. Eva Reuter
Dr. Reuter Investor Relations
Telephone: +49 (0) 69 1532 5857
SOURCE: Adcore Inc.
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