After recording its lowest quarterly operating costs ever, Ackroo says it’s in a strong position to scale following its third consecutive quarter of rising revenues.
This week, the Ottawa-based loyalty and rewards services provider announced revenues of $622,867 for the quarter ending Sept. 30, an increase of 11 per cent from the same period a year ago.
Contributing to the growth was a 26-per-cent increase in subscription and services revenue. Recurring revenues now stand at more than $400,000 per quarter.
OBJ360 (Sponsored)
Adapting to hybrid Work: How IAV Is simplifying office technology with BYOD solutions
You may have heard of BYOB, but have you heard of BYOD? BYOD, also known as “Bring your own device” is becoming a common practice for companies following hybrid work
Why it is vital to register your trademark—and what can happen if you do not
When an aesthetic nurse in Kitchener-Waterloo named her new business “Kraftwurk,” it was partly an homage to the region’s rich German heritage. But she likely did not realize it would
The firm cut its net loss to $167,756, an improvement from $488,645 a year ago. Operating losses were reduced by 87 per cent this quarter, and monthly burn is now less than $5,000 per month.
According to the firm’s MD&A report, cuts came in the form of job losses and reduced costs of goods and services such as license fees.
“The company now has a solid operational model and revenue run rate to maintain its operations and begin scaling in a material way. An exciting time for the company and for shareholders,” the report reads.
It was also a milestone quarter for Ackroo as the firm surpassed its 500th restaurant location. The company develops cloud-based rewards programs for retail and hospitality merchants.
