Ottawa-based Ackroo will turn a profit in 2016, CEO Steve Levely said Wednesday.
“The company has delivered substantial year-over-year revenue and customer growth in 2015 and is now only a quarter or two away from profitability,” Mr. Levely said in a statement as the loyalty solution provider released its business outlook and strategic plan for 2016.
Mr. Levely said he was pleased with the company’s performance in 2015, citing product enhancements, strengthened partnerships, new business channels and two acquisitions Ackroo made in the last 12 months.
OBJ360 (Sponsored)
From world-class to worrisome: The challenges facing Ottawa transit
This has been an incredible year for news. There are many contenders for Ottawa newsmaker of the year: Michael Andlauer’s Senators ownership and a new arena at LeBreton Flats; Tobi
SnowBall: A Cool Winter’s Eve to Keep Ottawa Kids Warm This Winter
As Ottawa’s winter chill sets in, the warmth of community spirit takes centre stage at SnowBall: A Cool Winter’s Eve, The Snowsuit Fund’s sought-after gala happening at the Ottawa Art
Looking ahead to 2016, the company hopes to raise year-over-year revenues by 50 per cent while keeping operating costs at 2015 levels, other than a maximum 10 per cent increase to support “organic growth.”
Ackroo (TSXV: AKR) said it will look to continue strengthening existing partnerships while adding new ones to support its go-to-market strategy.
By delivering improved products and services to its customers, the company is hoping to continue increasing monthly recurring revenue. It also wants to boost the number of customer locations by 75 per cent.
“Additional” mergers or acquisitions could also be on the horizon in 2016, it said.
“We believe we have the right team, focus and plan to execute on our goals and deliver the company’s most successful year yet,” Mr. Levely said.
That team will not include Dan Liu, who has resigned as the firm’s chief financial officer. Ms. Liu’s resignation comes as Ackroo moves its financial department from Ottawa to Hamilton to be closer to Mr. Levely’s office there.
Ms. Liu’s replacement will be named in early 2016, the company said, while thanking Ms. Liu for her “commitment and contribution.”
