- Reklaim’s YTD revenue increased by 1,496 per cent to $558,342
- Quarterly revenue increased by 70 per cent from Q2-2021
- The company has increased the number of B2B data customers by 127 per cent since the beginning of the year
- Reklaim has approximately +320 million user data profiles versus approximately 10,000 in Q2-2020
- Reklaim allows consumers to control how their data is collected and compensate them for its use, while also providing advertisers and brands a compliant data source
- Reklaim Ltd. (MYID) opened trading at C$0.34 per share
Reklaim (MYID) has filed Q3-2021 financial results for the three months ending September 30, 2021.
Neil Sweeney, CEO and Founder of Reklaim sat down with Jocelyn Aspa to discuss the company’s financial results.
Q3-2021 financial highlights:
- YTD revenue increased by 1,496 per cent to $558,342 from $34,973 in Q3-2020
- Quarterly revenue increased by 70 per cent from Q2-2021
- YTD sales and marketing expenditures of $2,337,633 versus $581,045 during the nine months ended Sept 30, 2020
- Cash and cash equivalents as of June 30, 2021 of $2,031,753 compared to $1,519,500 at the year ended December 31, 2020
Q3-2021 operational highlights:
- Increased B2B data customers 15 per cent from Q2-2021 to 75 as of the end of Q3-2021
- Increased B2B data customers by 127 per cent since the beginning of the year
- Reklaim has approximately +320 million user data profiles versus approximately 10,000 in Q2-2020
In Q3-2021, Reklaim sold its data to 75 companies, up from 65 in the prior quarter. As the company extracts increasingly unique insights from its 320 million user data profiles, the amount of data sold to existing clients should increase. Reklaim believes that it’s only capitalizing on a small percentage of its total market share potential. The company’s strategy of first scaling its data set, followed by platform distribution, has provided a foundation for it to continue to drive exponential revenue growth.
To accelerate its data monetization in the coming quarters, the Company plans to double the size of its existing sales team while continuing to focus on high-margin recurring data clients. The Company intends to add additional shopping modules to pay Reklaim users for purchases made with their linked credit cards and add a new SaaS-based privacy tier for users interested in protecting their data versus selling it.
Both modules will be net-new revenue verticals added to the current data compensation model.
“Reklaim continues to execute its strategy of providing every consumer in the world access to their data. We have stated for some time that the key to scaling revenue is based on scaling data and distribution. We have done that and are beginning to see the quarter-over-quarter growth we have always expected. The focus for the Company is growth. We believe the uniqueness of our data set and sales momentum will enable Reklaim to capitalize on the massive changes taking place in the data market. The combination of regulatory changes and moves by Big Tech, namely, Apple and Google, will accelerate this in 2022, and we stand to benefit from companies looking for a new compliant data supplier.”
Mr. Sweeney added,
“Over the past year, we targeted our efforts on scaling our user profiles and distribution partners. Now, we are focused on monetizing our 320 million high-fidelity, user-consented consumer profiles by expanding our current Brand, Agency, Platform, and Data relationships while adding more.”
“The $245 billion U.S. data market is transitioning from one of no compliance or inclusion to one that legally requires it. Reklaim has spent the past year building the scale to take advantage of this migration. The Company stands to benefit from our scale as brands, agencies, and platforms are cut off from their previous supply and are forced to look to new companies that can provide data at a scale that is both compliant and in their preferred distribution outlets. As much of the industry collapses, Reklaim is positioned to lead.”
Offering compliant, first-party data to Fortune 500 brands, platforms, and data companies, Reklaim allows consumers to visit the platform, confirm their identity, and unveil data that has been collected and sold without the consumer’s explicit consent. Reklaim enables consumers to take back control of this data by setting up a Reklaim account where, should they choose to, they can be compensated for their data.
Reklaim Ltd. (MYID) opened trading at C$0.34 per share.