Datable Technology Corp. (DAC:TSX.V; TTMZF:USOTC) announced in a news release it signed a three-year agreement with a global energy drink company.
Datable will deliver its suite of digital marketing applications and support as well as a marketing program, the first for the technology firm. That campaign, budgeted at about $20,000, will consist of a two-month promotion to be offered in a major U.S. grocery chain during March and April 2020.
"The time and effort expended by this leading global energy drink company to assess and approve our technology validates the value proposition and unique services that Datable offers our growing client base. This three-year deal provides us the runway to build a long-term relationship as we support their brand with digital loyalty, rewards and data-driven consumer engagement," Datable CEO Rob Craig said in the release.
"We expect this initial campaign to be the first of many promotions with this leading brand. Like many of our customers, the energy drink company sells most of its products through grocery and convenience stores, which are expected to remain open during the COVID-19 crisis," he added.
The Canadian software firm ended February 2020 with about $2.1 million worth of baseline contracted licenses for its core product, PLATFORM³, with a gross margin of about 70%. This figure excludes transaction fees, "which generate additional revenues in many of Datable's agreements," the company noted.
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