Ackroo posts record revenue for Q4, 2015

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Record quarterly and annual revenue proves Ottawa-based Ackroo’s growth strategy is working, CEO Steve Levely said Friday.

“During the quarter we delivered substantial organic growth with the addition of both new customers and through upselling current customers, allowing us to drive significant year-over-year and quarter-over-quarter growth,” Mr. Levely said in a statement.

For the three months ending Dec. 31, the gift card, loyalty and rewards technology and services provider posted revenue of $588,641, 13 per cent higher than the previous quarter and a 68 per cent increase over the same quarter last year.

For the year ending Dec. 31, the firm is expecting to post unaudited revenue of $1.8 million, 36 per cent higher than in 2014.

The company is continuing to enhance its products and add new channel partners, Mr. Levely said. It also completed the majority of the integration of its 2015 acquisition of Dealer Rewards Canada.

“All of these achievements allowed us to deliver our best quarter and best year in company history,” Mr. Levely said. “Based on these results, the company has delivered a three-year average growth rate of 43 per cent and is poised for continuous growth in 2016.”