Zoomd Delivered A Fourth Consecutive Quarter Of Growth In Both Revenue And Adjusted EBITDA, Achieving An Adjusted EBITDA Increase Of More Than US$5m For The Nine Months Ended September 30, 2021 Compared To The Same Period In 2020[1]

Achieving a record revenue per quarter of US16M and a record revenue growth rate of 141% YOY

Zoomd Technologies Ltd., a leading provider of an online advertising robust marketing platform that focuses on improving customers user acquisition campaigns, reported its financial results for the three and nine-month period ended September 30, 2021 today. The financial statements and MD&A are available on SEDAR under the Company’s profile.

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Ofer Eitan, Zoomd’s CEO, commented, “we achieved a new record in Q3 2021 as our focus on diversifying our client base, both with respect to sectors and geographies, is beginning to bear fruit. We are seeing a surge in budgets from our legacy clients that are looking to expand their acquisition sources, as the post-pandemic recovery continues and privacy limitations start affecting advertisers ROI’s. The strong revenue growth is producing positive adjusted EBITDA and cash flows, demonstrating the strength of our business and strategic positioning.”

Ofer further added, “we are continuing to experience strong demand for our user-acquisition products and services from both new and existing clients, driven by our innovative technology, and the great results our existing clients are achieving with our technology. We are seeing an increase within the allocation of advertising budgets to our platform and services, which we consider to be a direct result on the Company’s ability to mitigate against the impacts of the major iOS 14, 15 updates and other new market privacy limitations rolled out, as well as announced by Apple and Google.

Ofer ended by noting that, “our growth initiatives to expand into new geographies, such as Latin America and Asia, as well as expanding in hyper growing industry categories including fintech, e-commerce, gaming, and on demand services, have proven successful. As we look forward to 2022 and beyond, we expect to ramp up our self-serve products to expand our client base and further the growth of the Company.”

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  • Q3-2021 Revenues increased 141% compared to Q3-2020 and 43% compared to Q2-2021 to a quarterly record of $16M, making the fourth consecutive quarter of revenue growth.
  • Q3-2021 growth was driven primarily by the growing momentum in current customers as well as the onboarding of new clients.
  • The Company increased the number of “big customers” [2] by 33% YOY. Moreover, the average revenue per customer increased by 170%% YOY.
  • The Company generated a positive Adjusted EBITDA of $1.6M during the quarter, its highest level as a public company, compared to ($0.9M) in Q3-2020 and an increase of 25% relative to Q22021.
  • The Company achieved a positive cash flow from operations of $1.7M in the quarter, compared to ($1M) in Q3-2020.


  • For the three months ended September 30, 2021, revenues were $15,961, as compared to $6,625 for the three months ended September 30, 2020, an increase of approximately 141% year-over-year. The increase in revenues is primarily a result of customer acquisitions in growth sectors such as fintech, e-commerce, and gaming, as well as expansion in new geographies such as Latin America. In addition, our existing customers have allocated an increasing portion of their user acquisition budgets to Zoomd, as they have witnessed strong ROI on their spending.
  • Gross profit margin was 29% for the three months ended September 30, 2021, versus 31% for the same period last year, reflecting the typical lower margin achieved in the starting phases of new client relationships.
  • Research and Development (R&D) expenses for the three months ended September 30, 2021, were $ 1,194, a 27% decrease YOY, primarily reflecting the capitalization of software development costs.
  • Selling, General and Administrative (SG&A) expenses for the three months ended September 30, 2021, were $2,459, a 31% increase YOY, primarily reflecting the expenses incurred as a result of the Performance Revenues acquisition and increases in sales department bonuses as part of the significant growth in revenues.
  • Adjusted EBITDA for the three months ended September 30, 2021, was $1,647 as compared with an Adjusted EBITDA loss of ($850) for the three months ended September 30, 2020, an increase of $2,497. The improvement in the Adjusted EBITDA is primarily attributed to the significant increase in revenue.
  • Net cash generated from operating activities for the three months ended September 30, 2021 was $1,653 as compared to net cash used from operating activities of $(991) in Q3-20, a positive change of $2,644. The increase in cash used in operating activities is primarily attributed to the increase in revenues over the comparative periods.
  • As of September 30, 2021, the Company’s cash and cash equivalents amounted to approximately $3,217, and no debt, compared to $2,972 on September 30, 2020. In addition, as of September 30, 2021 the Company had $10,689 of trade receivables, compared to $4,619 for the same period last year.


  • During Q3 2021, Zoomd’s platforms received market justification of its approach to the iOS 15 privacy changes led by Apple. Zoomd’s underlying product logic is built in a way that resulted in the privacy changes having a minimal impact on the products and their users.
  • The Company signed a Marketing Partner Agreement with Snapchat and got certified as a formal API platform integrated marketing partner. The platform integration will grant Zoomd’s customers the ability to enjoy the growing success and uniqueness of Snapchat under within the Zoomd ecosystem which compliments the other channels that Zoomd is already integrated with.
  • The Company released an updated publisher dashboard for publishers which works with Zoomd’s “on site” search solution. The upgraded version provides publishers more insights and clarity regarding site traffic, search behavior and content engagement.

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