- Reklaim’s (MYID) Q2 was highlighted by revenue up 277 per cent YoY and 65 per cent QoQ
- It improved its margin by +99 per cent QoQ to -1 per cent
- B2B customers increased to 98, up 51 per cent from 65 in Q2 2021
- The company believes it is well-positioned to capitalize on growth in the data privacy market
- Reklaim offers a platform that allows consumers to protect and monetize their data
- Reklaim (MYID) is up by 6.25 per cent trading at $0.085 per share
Reklaim’s (MYID) Q2 was highlighted by revenue up 277 per cent YoY and 65 per cent QoQ.
Q2 financial highlights:
- Revenue was C$645,008, up 277 per cent from $171,070 in Q2 2021 and up 65 per cent over Q1 2022. Revenue year-to-date is up 216 per cent YoY
- Recurring revenue was 85 per cent of Q2 revenue and 87 per cent of total revenue year-to-date
- Revenue generated through platforms increased 66 per cent QoQ and 234 per cent YoY
- Achieved 2021 full-year revenue by the end of Q2
- Improved margin by +99 per cent QoQ to -1 per cent
- Net loss of $814,713, down from $1,472,393 in Q2 2021
- As of June 30, 2022, cash equivalents stood at $1,097,000, up from $463,620 as of December 31, 2021
- Closed non-brokered private placement for gross proceeds of $1,296,972. Closed final tranche in Q3 for aggregate gross proceeds of $268,025
Q2 operational highlights:
- Increased B2B customers to 98, up 51 per cent from 65 in Q2 2021
- New customers increased by 63 per cent since December 31, 2021
- Approximately 87 per cent of North America can find data about themselves with Reklaim
- The company houses over 320 million user data profiles from approximately 30,000 different partners
- Initiated a cost reduction program to reach cash flow neutral status in future quarters
“Reklaim continues to see strong growth in our organic business as evidenced by our year-over-year and quarter-over-quarter basis,” stated Neil Sweeney, Reklaim’s CEO. “Although we strengthened our balance sheet with $1.5 million gross of financings, we are still focused on driving costs out of our business.”
“And with Gartner forecasting that privacy regulations will cover 75 per cent of the world’s population by 2024,” he added, “Reklaim is well-positioned to be the global leader in providing high-fidelity, consumer-consented data to brands.”
Reklaim offers a platform that allows consumers to protect and monetize their data.
Reklaim (MYID) is up by 6.25 per cent trading at $0.085 per share as of 9:50 am EST.