Ackroo achieves 15th consecutive positive EBITDA quarter and grows subscription revenue by 4%
Ackroo Inc., a loyalty marketing, payments and point-of-sale technology and services provider, has filed its financial results for the period ended September 30, 2021. The results for the three-month period ended September 30, 2021 reflect 11% year over year revenue growth including 4% year over year subscription revenue growth. The Company also achieved their 15th consecutive positive Adjusted EBITDA quarter with $179,936 of positive Adjusted EBITDA representing 11% of total revenue. The revenue growth and Adjusted EBITDA improvement is driven by a return to pre-pandemic customer retention and continued normalization of acquired businesses.
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“Q3 was a very good bounce back quarter for Ackroo” said Steve Levely, CEO of Ackroo. “After a challenging start to the year with greater attrition than we have historically seen, we are encouraged by our improved customer retention and expansion. Our key performance indicators are improving: our churn rate dropped back to our pre-pandemic rate of below 5% and our average revenue per location has returned to $98. Notably, we added several larger multi-location clients onto our MKTG platform as well as more AckrooPAY and AckrooPOS clients into our business. In addition, we added a new CFO and various new senior leaders to position Ackroo for continued financial and operational discipline as we execute on our organic and inorganic growth strategies. We continue to work on integrating our acquired businesses to generate further synergies from both a revenue and cost perspective and expect our organic business to continue to grow as well.”
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