Remarkable
Key Highlights from Reklaim's 2023 Performance:
Remarkable Financial Growth:
- Reklaim achieved 74% year-over-year revenue growth, reaching
$4,111,927 in 2023 compared to$2,361,110 in 2022. - Recorded profit of
$872,139 for 2023, a substantial improvement from a loss of ($4,147,069 ) in 2022, representing a remarkable$5,019,208 turnaround over the past 12 months. - Gross margins surged to 77% in 2023, reflecting an impressive 83% improvement compared to -6% in 2022.
- Reklaim demonstrated a consistent growth trajectory in Cash Flow From Operations over the year, reaching
$58,513 in 2024 vs. -$3,331,098 in 2022, a significant enhancement of$3,389,611 compared to the previous fiscal year.
Record-Breaking Q4 Performance:
- Q4 2023 revenue reached an all-time high of
$1,416,230 , marking an impressive 97% surge compared to the same period in 2022. - Sequentially, Q4 2023 revenue increased to
$1,416,230 from$923,966 in Q3 2023, demonstrating a robust 53% growth.
Recurring Revenue and Operational Efficiency:
- Achieved a recurring revenue rate of 92% in 2023, a notable increase from 86% in 2022.
- Implemented significant cost-saving measures, reducing operating expenses by 38% in 2023 to
$2,716,815 compared to$4,405,729 in 2022, showcasing an improvement of$1,688,914 .
In 2023, Reklaim demonstrated exceptional performance across all key metrics, showcasing its resilience and strategic focus amidst a dynamic market landscape, said Reklaim Founder & CEO
Full financial results, reported in CAD dollars, and Management's Discussion and Analysis are posted to SEDAR (www.sedar.com) and on the Company's investor relations website: investors.reklaimyours.com.
Reklaim is committed to navigating the evolving landscape of consumer data privacy. We provide compliant, zero-party data solutions to Fortune 500 brands, platforms, and data companies. Our platform empowers consumers to reclaim control over their data, enabling them to view and manage information collected with direct authorization. Moreover, users can be compensated for their data through a Reklaim account. Discover more about Reklaim at https://investors.reklaimyours.com.
The Company announces a revision to its share issuance agreement with AGORA Internet Relations Corp. ("Agoracom"), which was initially established on
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This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will," "may," "should," "anticipate," "expects," and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the closing of the Debt Settlement and TSXV approval of the Debt Settlement, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.
The reader is cautioned that assumptions in preparing forward-looking information may prove incorrect. Events or circumstances may cause actual results to differ materially from those predicted due to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Although considered reasonable by management during preparation, such information may prove incorrect, and actual results may differ materially from those anticipated. This cautionary statement expressly qualifies forward-looking statements contained in this news release. The forward-looking statements in this news release are made as of the date of this news release. The Company will only update or revise any included forward-looking statements as expressly required by Canadian securities law.