VANCOUVER, BC, Oct. 26, 2021 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://www.zoomd.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, "Zoomd" or the "Company"), the marketing tech (MarTech) user-acquisition and engagement platform, provided an update to its full year 2021 revenue guidance. The Company now expects 2021 revenue to increase more than 80% compared to 2020. The new guidance is an increase from the prior guidance issued by the Company that revenue will increase between 30% to 40% year-over-year.
"We are excited to be raising our revenue growth expectations for 2021 as we see continued strong demand for our user-acquisition activities from both new and existing clients so far this year," said Ofer Eitan, Zoomd's CEO, adding "driven by our innovative technology, and the results that clients attain because of it, we are seeing increasing allocation of advertising budgets to our platform and services. Further, our growth initiatives to expand into new geographies, such as Latin America and Asia; new industry categories - including fintech, gaming and on demand services. Given our increased visibility, we are comfortable in raising our 2021 revenue growth guidance and look forward to the continued adoption our innovative platform going forward."
Details regarding our guidance:
● Growth from new customers, acquired primarily during the second 2nd half of 2020 through to the beginning of the year 2021, which are increasing their marketing budgets as they become more familiar with the platform, the services, and the results. The growth of these customers have been above our expectations.
● Growing with existing customers. Zoomd has been seeing an increased allocation advertising budgets from our existing customers. Our portion of the total budget has become bigger at the expense mainly of media's that have been suffering from lower budgets since iOS 14 and Apple's privacy changes.
● Growth in new regions such as Latin America, Asia, India and Eastern Europe.
● Growth in emerging industry categories including fintech, ecommerce, and gaming.
● A successful acquisition of Performance Revenues in February 2021 that was integrated faster than expected.
Zoomd expects to release third quarter 2021 financial results in November 2021.
Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers' goals and targets.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
DISCLAIMER IN REGARD TO FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking statements" and "forward-looking financial outlook" (collectively, "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Zoomd's future financial situation, its expected revenue growth for 2021, its ability to sucessfuly grow revenue organically and via mergers and acquisitions, the impact and length of time of the COVID-19 pandemic on global advertising budgets and Zoomd's revenue, its ability to meet its strategic targets on the development roadmap, the overall success of the development roadmap, its ability to realize synergies in connection with the acquisition of Peformance Revenues and the overall success of the new SaaS product. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd's business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.
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