Three straight quarters of revenue growth validate Ottawa-based Ackroo’s corporate strategy, CEO Steve Levely said Thursday.
“This quarter represents our first quarter under our new cost and operating structure and to see us deliver both quarter-over-quarter and year-over-year growth under this structure is very exciting,” Mr. Levely said in a statement.
The gift card, loyalty and rewards technology and services provider’s revenue was up four per cent from the same period last year to $385,158, while operating costs fell 65 per cent from a year ago to $199,259.
Ackroo (TSXV: AKR) also completed its first acquisition in the quarter, and Mr. Levely said the firm is already reaping the benefits of its purchase of PhotoGIFTCARD.
Since Ackroo took ownership effective Feb. 1, PhotoGIFTCARD-related revenues increased 457 per cent from $5,653 in February/March 2014 to $24,826 in February/March 2015, he said.
Ackroo has also secured West Technology Group as a reseller in the Caribbean, and Mr. Levely said revenue from this partnership should start coming in by the end of the second quarter.
“I am thrilled with the accomplishments the company has made this quarter,” Mr. Levely said. “We are very much on track for a very successful 2015.”