Datable Technology Corp. (DAC:TSX.V; TTMZF:OTCMKTS) signed three agreements with leading consumer goods companies totaling about $122,000 in value plus transaction fees, it announced in a news release.
According to these arrangements, Datable will provide licenses for modules of its mobile-based consumer marketing software suite PLATFORM³ and digital rewards. The latter are programs in which consumers are rewarded for buying a certain dollar amount of qualifying products from specific participating U.S. and Canadian retailers.
In one offering, U.S. consumers who buy a certain dollar amount of a particular global consumer packaged goods company's personal grooming products during the 2020 holiday season will receive a free movie download from a well-known content provider.
As part of a marketing program starting in October, Canadian consumers will get a gift card from a national retailer when they buy a qualifying dollar amount of the same packaged goods company's products via PLATFORM³.
Third, as part of a marketing program launched in Canada in September, consumers who buy a qualifying dollar amount of a multinational brewing company's products will be entered to win a gift certificate for a new wardrobe at a known Canadian retailer.
"These three agreements are with existing customers, who recognize the value of the direct connection to consumers who purchase their products facilitated by PLATFORM³. These global consumer goods companies have very large annual marketing budgets, so we are pleased that the ROI we drive is leading to increased budget allocations to our solution,"Datable CEO Rob Craig said in the release.
"These new agreements are with companies that sell consumer products that remain in demand and are through grocery chains, pharmacies and convenience stores that have remained open during the COVID-19 crisis," Craig added.
"Datable previously provided guidance that revenue will grow by over 100% in 2020 with expenses increasing by about 10%, compared to 2019. Datable expects gross margin to be about 55% in 2020. Datable's progress in year-to-date 2020 has increased the company's confidence in this guidance," the release stated.
To date in 2020, Datable has signed 20 new agreements. "This includes the largest the largest agreement in Datable's history under which a leading provider of household products has contracted for approximately $1,000,000 in license fees and rewards in 2020 with a projected increase to over $4 million in 2021," the company stated.
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