Ackroo Inc. (AKR.V) recently released its 2016 second quarter financial results. To keep our readers informed about recent developments, here is a short update covering all the key points.
- On July 29, 2016, Ackroo reported its Q2 2016 results, which confirmed steady progress in the company’s financial performance.
- On June 8, 2016, Ackroo signed a strategic partnership with First Data Corporation (NYSE: FDC) to become the preferred third‐party provider of gift card and loyalty programs for new SMB accounts in Canada. We believe this partnership has the potential to accelerate organic growth significantly.
- On June 9, 2016, Ackroo closed a private placement of $0.20 shares for gross proceeds of $587,316.
- On August 22, 2016, Ackroo launch a new white‐labelled mobile app with Williams Fresh Cafe in 20 locations in Ontario.
- We have updated our forecasts and lowered our price target to $0.425 to account for delays in our investment thesis.
- We expect the FDC partnership and small bolt‐on acquisitions to fuel at least 30% annual revenue growth over the next few years.
Q2 2016 Earnings Update: 20160823 – Espace MicroCaps – AKR – Q2 2016 Earnings Update
FY 2015 and Q1 2016 Earnings Update: 20160518-Espace-MicroCaps-AKR-FY2015-and-Q12016-Earnings-Update
Our Initiation Report: 20160421 – Espace MicroCaps – AKR – Initiation Report
Disclosure: Philippe and Mathieu own shares of Ackroo Inc. Full disclosure available on page 8 of our update.