Adcore Reports First Quarter 2025 Results

Continued Strength in the APAC Market with Growth Eclipsing 85% Fueled by Media Blast Adoption and Client Acquisition

(All figures in CAD unless otherwise stated)

TORONTO, ON / ACCESS Newswire / May 15, 2025 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ),a global leader in marketing technology empowering businesses to maximize their digital marketing potential with its innovative AI-powered platform ("Marketing Cloud"), today announced its financial results for the three months ended March 31, 2025.

Omri Brill, CEO and Founder of Adcore, commented, "We entered 2025 with strong momentum carried over from APAC's standout 2024 performance delivering 85% growth in Q1 alone. While macroeconomic conditions posed challenges in EMEA and North America, we remained focused on operational discipline, driving a meaningful increase in cash flow and achieving a positive Adjusted EBITDA for the quarter."

Mr. Brill continued, "Q1 is typically our softest quarter, yet we've emerged from it in our strongest financial position to date with a 33% YoY increase in cash position and record ARR growth from Media Blast. As we move into the remainder of the year, we're doubling down on strategic hiring in high-growth regions and preparing to launch our newest product, Proposaly. Designed to unify and automate the sales workflow, Proposaly represents the next phase in our mission to simplify and scale digital growth for businesses around the world."

First Quarter Highlights:

Revenue for the three months ended March 31, 2025, was CAD$7 million compared to CAD$6.8 million for the three months ended March 31, 2024, a 2% increase.

Gross profit for the three months ended March 31, 2025, was CAD$3.1 million compared to CAD$3.1 million for the three months ended March 31, 2024.

Gross margin for the three months ended March 31, 2025, was 44% compared to 45% for the three months ended March 31, 2024.

Adjusted EBITDA for the three months ended March 31, 2025 was CAD$208 thousand compared to CAD$201 thousand for the three months ended March 31, 2024.

APAC revenue for the three months ended March 31, 2025, was CAD$3.9 million compared to CAD$2.1 million for the three months ended March 31, 2024, a 85% increase.

Working Capital for the three months ended March 31, 2025 was CAD$7.1 million compared to CAD$7.3 million as of December 31, 2024.

Net cash flow generated by operating activities for the three months ended March 31, 2025, amounted to CAD$263 thousand, compared to CAD$13 thousand for the three months ended March 31, 2024.

Our MediaBlast application maintained its strong momentum, reaching $2.33M in ARR as of April 2025, a remarkable 292% year-over-year increase and 15% growth month-over-month.

CONFERENCE CALL AND WEBCAST INFORMATION

Adcore will host a webcast and conference call to discuss those results on Thursday May 15, 2025, at 10:00 a.m. ET.

To register for the conference call/webcast please click here or visit: https://investors.adcore.com/Q12025.

The conference call will include a brief statement by management and will focus on answering questions about Adcore's results. Questions regarding results can be sent in advance to invest@adcore.com.

USE OF NON-IFRS MEASURES

Management uses Adjusted earnings before interest, income taxes, depreciation, and amortization ("Adjusted EBITDA") as a key financial metric to evaluate Adcore's operating performance and for planning and forecasting future business operations. Adjusted EBITDA excludes significant items that are non-operating in nature in order to evaluate Adcore's core operating performance against prior periods. Adjusted EBITDA is not a measure of financial performance under GAAP and should be considered in addition to, and not as a substitute for net earnings, overall change in cash or liquidity of the business as a whole. Management believes the use of Adjusted EBITDA allows investors and analysts to understand the results of the continuing operations of the Company.

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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
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ABOUT ADCORE

Adcore is a leading AI-powered marketing technology company.

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. Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner, Verified Amazon 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.

For more information about Adcore, please visit https://www.adcore.com/investors/, https://www.adcore.com/blog or follow us on LinkedIn.

FORWARD-LOOKING STATEMENTS

This press release contains or may contain 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:

ADCORE INC.

https://www.adcore.com/investors/

SOURCE: Adcore Inc.