Adcore Inc. (ADCO:TSX.V) announced in a news release that Q1/19 was another record quarter for the corporation, with revenue and EBITDA having increased significantly year over year (YOY). Also, Adcore recently began trading on the TSX Venture Exchange under the symbol ADCO.
For the quarter ended March 31, 2019, Adcore's revenue was $3.3 million, up 34% over that of Q1/18. Adjusted EBITDA was $1.3 million, a 288% YOY increase. Total working capital was $416,000. Cash and cash equivalents totaled $1.66 million.
"We couldn't have asked for a stronger start to 2019," said CEO Omri Brill in the release. "The Q1/19 results have affirmed the corporation's bullish outlook for 2019."
The provider of machine learning-powered advertising technologies "continued to invest in its global sales and marketing team and its industry leading technology," the release noted, "including the launch of the brand new click-to-fix' feature of the SEMDOC2 platform."
In other news, on May 27, Adcore Inc. completed its acquisition of all of the issued and outstanding securities of its subsidiary, Podium Advertising Technologies Ltd. doing business as ADCORE. It also closed its brokered private placement of subscription receipts at CA$0.50 apiece for gross proceeds of $2,558,500.
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