Conference call will be held on June 2, 2023, at 11AM ET.

VANCOUVER, British Columbia, May 30, 2023 – Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and its wholly owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company”), the marketing technology (MarTech) user-acquisition and engagement platform, today reported its financial results for the three months ended March 31, 2023. The Company’s financial statements and management discussion and analysis (“MD&A”) are available on SEDAR under the Company’s profile. All currency references in this press release are in USD.

Key Financial Highlights

• Achieved strong gross margins of 40% in 1Q23 versus 30% in 1Q22.
• Achieved positive Adjusted EBITDA of $0.2M in 1Q23.
• Ended 1Q23 with a cash balance of $2.7M and no long-term debt.

Management Commentary

Amit Bohensky, Chairman of Zoomd Technologies, stated, “During the first quarter of 2023, our business faced ongoing macroeconomic challenges, particularly in the fintech, cryptocurrencies, and e-commerce sectors.

Under the guidance of our new CEO, Ido Almany, we are currently undertaking a thorough analysis and evaluation of each business line and supporting operations with the objective of consolidating and significantly streamlining our cost structure. We have identified several areas of inefficiency that are currently under active discussion by management and awaiting subsequent approval from the board. As of the date hereof, a final decision has not been made, and discussions are still currently underway. We anticipate that final decisions on each business line and supporting operations will be made imminently. Once these decisions are finalized and the corresponding measures are implemented, we believe they will lead to improved bottom line and increased cash flow for the Company.”

First Quarter 2023 Highlights

• Revenues for the three months ended March 31, 2023, were $6 million, a 47% decline relative to Q1 2022. The decrease in revenues is primarily as a result of global macroeconomic conditions that impact client advertising budgets in general and especially in areas of Fintech and in particular Cryptocurrency.

• Gross profit margin was 40% for the three months ended March 31, 2023, versus 30% for the same period last year, reflecting lower revenues from the cryptocurrency segment which carries lower margins.
• Research and Development expenses for the three months ended March 31, 2023, were $1.2M, a 20% decrease relative to Q1 2022, reflecting lower deprecation and other R&D expenses.
• Selling, General and Administrative expenses for the three months ended March 31, 2023, were $3.1M, a 16% increase YOY, primarily reflecting increases in expenses incurred as a result of new employees joining the Company, primarily after the acquisition of Albert.
• Other expenses – Impairment for the three months ended March 31, 2023, are software costs write off in the amount of $2.8M.
• Adjusted EBITDA for the three months ended March 31, 2023, was $0.2M as compared with Adjusted EBITDA of $1.9M for the three months ended December 31, 2022. The decrease in Adjusted EBITDA was primarily attributed to the decrease in revenue.
• Operating loss was $3.5M for Q1 2023, compared to an operating profit of $0.9M in Q1 2022, and was primarily attributable to the impairment of intangible assets, which are the software costs write off.
• As of March 31, 2023, the Company’s cash and cash equivalents amounted to $2.7 million, and no long-term debt.

• On March 28, 2022, the Company announced that it has acquired substantially all of the assets of Albert Technologies Ltd. and Albert Technologies’ Inc in a cash and share deal. As partial consideration for certain of Albert’s employees hired by the Company, the Company has entered into certain shares for services arrangements with such employees totaling up to $0.2M worth of company shares, to be issued upon the completion of the services to the Company and using the price per share at the time of issuance. In September 2022, the Company issued 333,863 shares to Albert’s employees with a deem price per share of CAD$0.39. In May 2023, the Company issued 804,923 shares to Albert’s employees with a deem price per share of CAD$0.16.
• Zoomd’s Board of Directors is reviewing and considering potential changes to optimize business lines and product offerings for improved growth and profitability.

Conference Call

Amit Bohensky, Founder and Chairman, will hold a conference call to discuss the quarter’s financial results at 11AM ET on June 2, 2023.

Interested parties can listen via a live webcast, from the link available in the Investors section of Zoomd’s website at https://zoomd.com/investors/ or at https://app.webinar.net/v87wJ1YJxdQ

A replay will be available after the call, in the Investors section of the Company’s website at https://zoomd.com/investors/ or via https://app.webinar.net/v87wJ1YJxdQ.

About Zoomd:

Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with many global digital media outlets, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers’ goals and targets.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING NON-IFRS FINANCIAL MEASURES

This press release refers to “Adjusted EBITDA” which is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS. The Company’s presentation of this preliminary financial measure may not be comparable to similarly titled measures used by other companies. This preliminary financial measure is intended to provide additional information to investors concerning the Company’s estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, as adjusted for share-based payments and one-time non-operating expenses and is a measure of a company’s operating performance. Essentially, it’s a way to evaluate a company’s performance without having to factor in financing decisions, accounting decisions or tax environments.

Management uses this non-IFRS measure as a key metric in the evaluation of the Company’s performance and the consolidated financial results. The Company believes Adjusted EBITDA is useful to investors in their assessment of the operating performance and the valuation of the Company. However, non-IFRS financial measures are not prepared in accordance with IFRS, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. A reconciliation of Adjusted EBITDA and operating profit is available in Zoomd’s MD&A located on the Company’s profile at www.sedar.com which is incorporated by reference into this press release.

DISCLAIMER IN REGARD TO FORWARD-LOOKING STATEMENTS

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to Zoomd’s future outlook, its future ability to successfully continue its growth, its ability to improve profitability as a result of the ongoing management review, as well as its ability to continue expanding into new geographies and industries. Forward-looking statements are based on our current assumptions, estimates, expectations and projections that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic, competitive, technological, legal, privacy matters, political and social uncertainties (including the impacts of the COVID-19 pandemic and the current war in Ukraine), the extent and duration of which are uncertain at this time on Zoomd’s business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

FOR FURTHER INFORMATION PLEASE CONTACT:

 Company Media Contacts:

Amit Bohensky
Chairman
Zoomd
ir@zoomd.com

+972 722200555

Investor relations:

Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com

646-821-9701

VANCOUVER, British Columbia, May 31, 2022 – Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company”), the marketing technology (MarTech) user-acquisition and engagement platform, today reported its financial results for the three months ended March 2022. The Company’s financial statements and management discussion and analysis (“MD&A”) are available on SEDAR under the Company’s profile.

Fiscal 2022 Outlook Maintained

Zoomd expects business and revenues growth in fiscal 2022 to be in a range of $74M to $80M, representing a year-over-year growth of up to approximately 50%. The outlook is based on assumptions, each of which management considers to be reasonable and are set out in the MD&A.

Key Highlights

• 1Q22 revenues increased 140% YOY to $16.2M. Results were driven primarily by the onboarding of new clients in recent months, growth with existing clients and expansion into growth geographies such as Latin America, Asia, and North America
• Operating profit was $0.9M for 1Q22 compared to an operating loss of $6M in 1Q21, primarily as a result of increased revenue
• Achieved positive cash flow from operations of $1.7M in 1Q22, ended 1Q22 with a cash balance of $5M and no long-term debt
• Achieved positive Adjusted EBITDA of $1.9M during 1Q22
• Increasing “large customers” numbers by 200% YoY
• Completed the acquisition of albert.ai, strengthening North America activity with tier 1 customers and consolidate self-serve and SaaS business model
• Apple’s iOS14+ privacy changes helped drive new customers to Zoomd’s platform and products

Management Commentary

The strong momentum of 2021 has maintained through 1Q22, as we achieved another robust quarter. Our partners are continuing to increase their budgets with us, and we have a powerful pipeline of new customers. Our user acquisition platform has been integral in enabling to manage multiple campaigns from one place, allowing time saving and efficiency with real-time control. Our platforms enable our customers to grow their UA with limited additional resources, giving the ability to scale immediately by demand. Our growth is coming from burgeoning sectors such as Ecommerce, Education (new targeted vertical), iGaming, Gaming and Fintech, and hypergrowth geographies such as Latin America, Asia, and North America, while we see increase within North America clienteles via the Albert.ai acquisition. In March 2022, the Company announced the acquisition of Albert, a U.S.-based artificial intelligence marketing platform for advertisers, driving fully autonomous digital campaigns for some of the world’s leading brands, that will now be able to use the Company’s products and services. The acquisition is aligned with the Company strategy to provide customers a variety of business models including self-serve abilities. Considering small and mid-market businesses, the self-serve abilities are an upper hand for scaling without the need of massive HR growth.

Our visibility into revenues going forward is to maintain our 2022 revenue guidance range of $74M to $80M, which represents approximately 40% – 50% year over year growth, details of which are set out in the MD&A.

“We are very pleased with the continued robust pace of our business, as we see strong demand for our user-acquisition activities from both new and existing clients” said Ofer Eitan, Zoomd’s CEO, adding “Companies are seeing the results and value of our unique activity and are further allocating larger portion of their user acquisition budgets to Zoomd. While we are happy with our current pace of growth, we believe that our ability to execute in various verticals, geos, plus different business models while we make our platforms accessible for self-serve use, can bring us to the next level even further than expected. Almost every UA challenge will find a solution under our wings, hoping to become the last user acquisition platform that our customer will ever use.”

First Quarter 2022 Highlights (All Figures in Thousands in USD)

• For the three months ended March 31, 2022, revenues were $16,250, as compared to $6,776 for the three months ended March 31, 2021, an increase of 140% year-over-year. The increase in revenues is primarily the result of customer acquisitions in the growth sectors such as e-commerce, education (new targeted vertical), fintech, and gaming as well as expansion in new geographies such as Latin America, Asia, and North America, targeting specific growth potential countries. In addition, our existing customers have allocated an increasing portion of their user acquisition budgets to Zoomd, as they have witnessed strong ROI on their spending.
• Gross profit margin was 30% for the three months ended March 31, 2022, versus 35% for the same period last year, reflecting more social media advertising portion that is known to be with lower profit margins.
• Research and Development (R&D) expenses for the three months ended March 31, 2022 were $1,234, a 17% increase YOY, primarily reflecting the amortization of capitalized software development costs.
• Selling, General and Administrative (SG&A) expenses for the three months ended March 31, 2022 were $2,633, 34% increase YOY, primarily reflecting increases in sales department bonuses as the result of increased revenues, and as a result of some new employees joining the company.
• Adjusted EBITDA for the three months ended March 31, 2022 was $1,932 as compared with Adjusted EBITDA of $63 for the three months ended March 31, 2021, an increase of $1,995. The improvement in the Adjusted EBITDA is primarily attributed to the significant increase revenue growth.
• Operating profit was $932 for Q1 2022 compared to an operating loss of $638 in Q1 2021, primarily as a result of increased revenue.
• As of March 31, 2022, the Company’s cash and cash equivalents amounted to $5 million, and no debt.

• On March 28, 2022, the Company announced that it has acquired substantially all of the assets of Albert Technologies Ltd. and Albert Technologies’ Inc (“Albert”) in a cash and share deal (the “Transaction”). The Company would like to provide additional disclosure in connection with the Transaction. The consideration payable by the Company pursuant to the Transaction consists of $125,000 in cash and share issuance by the Company of $375,000 worth of common shares of the Company at closing (being up to 375,000 common shares) and a second payment of $125,000 in cash and $375,000 worth of common shares of the Company (being up to 375,000 common shares) upon the satisfaction of certain performance-based metrics. The price per share used for the purposes of the aforementioned share issuances will be the greater of $1.00 and the closing price of the shares of the Company on the TSX-V prior to their issuance.

In addition, as partial consideration for certain of Albert’s employees hired by the Company, the Company has entered into certain shares for services arrangements with such employees totaling up to $0.2M worth of company shares, to be issued upon the completion of the services to the Company and using the price per share at the time of issuance. None of the employees are non-arm’s length to the Company or any of its affiliates.

Conference Call

Amit Bohensky, Founder and Chairman, will hold a conference call to discuss the quarter’s financial results at May 31, 2022.

Interested parties can listen via a live webcast, from the link available in the Investors section of the Company’s website at https://zoomd.com/investors/ or at https://app.webinar.net/JWmgNewpM63.

A replay will be available after the call, in the Investors section of the Company’s website at https://zoomd.com/investors/ or via https://app.webinar.net/JWmgNewpM63.

About Zoomd:

Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers’ goals and targets.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTION REGARDING NON-IFRS FINANCIAL MEASURES

This press release refers to “Adjusted EBITDA” which is a non-IFRS financial measure that does not have a standardized meaning prescribed by IFRS. The Company’s presentation of this preliminary financial measure may not be comparable to similarly titled measures used by other companies. This preliminary financial measure is intended to provide additional information to investors concerning the Company’s estimated results. Adjusted EBITDA is defined as earnings before interest, tax, depreciation and amortization, as adjusted for share-based payments and non-recurring operating expenses, and is a measure of a company’s operating performance. Essentially, it’s a way to evaluate a company’s performance without having to factor in financing decisions, accounting decisions or tax environments.

Management uses this non-IFRS measure as a key metric in the evaluation of the Company’s performance and the consolidated financial results. The Company believes Adjusted EBITDA is useful to investors in their assessment of the operating performance and the valuation of the Company. However, non-IFRS financial measures are not prepared in accordance with IFRS, and the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with IFRS. A reconciliation of Adjusted EBITDA and operating profit is available in Zoomd’s MD&A located on the Company’s profile at www.sedar.com which is incorporated by reference into this press release.

DISCLAIMER IN REGARD TO FORWARD-LOOKING STATEMENTS

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to Zoomd’s 2022 revenue outlook, its future ability to successfully continue its growth, its ability to continue to deliver products and services largely unimpacted by the privacy updates undertaken (or will be undertaken in the future) by Google and Apple as well as its ability to continue expanding into new geographies and industries. Forward-looking statements are based on our current assumptions, estimates, expectations and projections that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, technological, legal, privacy matters, political and social uncertainties (including the impacts of the COVID-19 pandemic and the current war in Ukraine), the extent and duration of which are uncertain at this time on Zoomd’s business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

FOR FURTHER INFORMATION PLEASE CONTACT:

Company Media Contacts:

Amit Bohensky
Chairman
Zoomd
ir@zoomd.com

Investor relations:

Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com

646-821-9701

VANCOUVER, British Columbia, May 24, 2022 – Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company”), the marketing technology (MarTech) user-acquisition and engagement platform, announced today that it expects to report its financial results for the first quarter 2022 on May 31, 2022.

The Company has scheduled a conference call on Tuesday May 31, at 11:00 a.m. ET, to discuss the results

Interested parties can access the conference call via Internet webcast, which is available in the Investors section of the Company’s website at https://zoomd.com/investors/ or at https://app.webinar.net/JWmgNewpM63

Interested parties who would like to submit a question to be addressed on the call should email the question to ZOMD@lythampartners.com .

A webcast replay will be available in the Investors section of the Company’s website at https://zoomd.com/investors/ or via https://app.webinar.net/JWmgNewpM63.

About ZOOMD

Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers’ goals and targets.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer IN REGARD TO Forward-looking statements

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect Zoomd’s release of its financial statements on May 31, 2022. Forward-looking statements are based on our current assumptions, estimates, expectations and projections that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, technological, legal, privacy matters, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd’s business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

For further information please contact:

Company Media Contacts:

Amit Bohensky
Chairman
Zoomd
ir@zoomd.com

+972 722200555

Investor relations:

Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com

646-829-9701

ZOOMD REPORTS Q1 2021 FINANCIAL RESULTS HIGHLIGHTED BY STRONG GROSS MARGINS. MAINTAINS 2021 REVENUE GROWTH GUIDANCE OF 30% TO 40%

Financial Results Key Highlights & Outlook

• Maintains 2021 revenue growth guidance of 30% to 40%, reflecting the strong post-pandemic market recovery, the onboarding of new clients, the launch of new product lines, and strategic M&A activity.

• Gross profit margin increased roughly 17% from 30% to 35%, primarily due to focusing on more profitable customers.

• Over the past 9 months, the Company has diversified its customer base with the onboarding of customers operating in industries to areas such as fintech, entertainment, and ecommerce. In addition, sectors that were shut down during the pandemic and are reopening, such as sports, are benefiting existing customers.

• Beginning to see the positive impact of “Performance Revenues” acquisition.

VANCOUVER, British Columbia, June 1, 2021 – Zoomd Technologies Ltd. (TSXV: ZOMD) (OTC: ZMDTF) (https://wordpressmu-935437-3249329.cloudwaysapps.com) and its wholly-owned subsidiary Zoomd Ltd. (collectively, “Zoomd” or the “Company”), the marketing tech (MarTech) user-acquisition and engagement platform, today reported its financial results for the three months ended March 31, 2021.
The financial statements and MD&A are available on SEDAR under the Company’s profile.

“We are excited to return to sustainable revenue growth as our clients expand their advertising budgets to pre-COVID levels” said Ofer Eitan, Zoomd’s CEO, adding “Over the last nine months we have been successful in acquiring new customers in growing industries such as fintech and e-commerce. We expect our newly acquired customers to increase their activity with us during 2021. Our organic growth in the upcoming months, combined with our integration of the Performance Revenues acquisition and ongoing M&A discussions, lead us to maintain our 2021 revenue growth guidance. Furthermore, we are proud of the strong gross margins achieved during the first quarter, which are the result of our focus on profitable activities and our efforts to diversify our customer base.”

Platform Update

During Q1-2021, Zoomd released self-serve products such as Performance, Premium channels, and DSP. The self-serve products save Zoomd’s advertising customers money, time and resources in the ad buying, optimization process and general campaign management, by uniting all of the client’s advertising campaigns under a single central dashboard, allocating budget and providing data on the user acquisition capabilities across various digital channels.

Acquisition of Performance Revenues

On February 9, 2021, Zoomd acquired Performance Revenues, a leading international mobile marketing and influencer company, providing a variety of performance-based marketing solutions led by a team of professional marketers, media buyers and account managers. Zoomd believes that it is able to leverage the people, talent, and clients acquired through this acquisition to drive growth in the future by realizing certain synergies between the platforms.

FIRST QUARTER 2021 HIGHLIGHTS (ALL FIGURES ARE IN USD)

• For the three months ended March 31, 2021, revenues amounted to $6,776, as compared to $6,513 for the three months ended March 31, 2020, an increase of approximately 4% year over year. The increase in revenues is primarily a result of the onboarding new customers in the second half of 2020 and an increase of online media and marketing budgets for some of our top 10 customers. In addition, during the period, the Company added numerous clients to its platform, with smaller initial budgets that the Company expect to increase in the coming months.
• Gross profit was 35% for the three months ended March 31, 2021, roughly 17% increase from 30% for the three months ended March 31, 2020. The improvement in the gross profit margin was primarily attributable to the Company’s decision to disengage from less profitable customers and general client base diversification, thereby not connecting the Company’s performance to any specific industry.
• Selling, General and Administrative (SG&A) expenses for the three months ended March 31, 2021 were $1.96 million, roughly flat YOY, as increased advertising expense was offset by a decrease in G&A spending. Research and Development (R&D) expenses for the three months ended March 31, 2021 decreased 31% YOY reflecting the capitalization of software development costs.
• EBITDA for the three months ended March 31, 2021 increased by $90 The YOY increase is attributed to the increase in revenue, capitalization of software and the improvement in the gross profit margin, all of which carried the Company to positive adjusted EBITDA for the first time since it became publicly traded. “EBITDA” is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS – please see “Non-IFRS Measures” below.

The following table presents a reconciliation of EBITDA and Adjusted EBITDA to Operating Loss for the three months ended March 31, 2021 and 2020:

• As of March 31, 2021, the Company’s cash and cash equivalents amounted to $4 million, and no debt.

2021 Growth Expectations (ALL FIGURES ARE IN USD)

The Company is maintaining its revenue outlook of $25 million to $36 million for the year ending December 31, 2021, representing growth of 30% to 40% YOY. This outlook reflects the following assumptions which management believes are reasonable:

• Organic Growth – Management estimates that at least $4 million or approximately 40% of the revenue growth for the year ending December 31, 2021 to be caused primarily from the existing business model where the key drivers are:
  • New customers acquired primarily during the second half of 2020 through to the beginning of the year 2021, which are expected to increase their marketing budgets as they become more familiar with the platform, the services and the results.
  • New customers acquired by the newly launched Self-Served products: Performance, Premium channels, and DSP.
  • Post-COVID online advertising demand surge, especially from sectors that were shut down during the height of the pandemic and are beginning to reopen, such as sports.
  • Geographical expansion in India, East Europe, the Philippines, and Japan announced earlier this year.
• Mergers and Acquisitions – Management estimates that up to $6 million or 60% of the revenue growth for the year ending December 31, 2021 to be caused primarily as a result of acquisitions of carefully selected target companies that in line with the Company’s business, strategy, and vision. The Company’s acquisition of “Performance Revenues” that was announced on February 10, 2021 already factors into the above expectation as management believes it will bear a positive impact on its revenue growth in 2021. In addition, the Company has announced that it is engaged in series of discussions for potential acquisitions during 2021.

The above forward-looking financial information was approved by the Company in connection with the filing of the MD&A for the year ended December 31, 2020.

About Zoomd:

Zoomd (TSXV: ZOMD, OTC: ZMDTF), founded in 2012 and began trading on the TSX Venture Exchange in September 2019, offers a site search engine to publishers, and a mobile app user-acquisition platform, integrated with a majority of global digital media, to advertisers. The platform unifies more than 600 media sources into one unified dashboard. Offering advertisers, a user acquisition control center for managing all new customer acquisition campaigns using a single platform. By unifying all these media sources onto a single platform, Zoomd saves advertisers significant resources that would otherwise be spent consolidating data sources, thereby maximizing data collection and data insights while minimizing the resources spent on the exercise. Further, Zoomd is a performance-based platform that allows advertisers to advertise to the relevant target audiences using a key performance indicator-algorithm that is focused on achieving the advertisers’ goals and targets.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

NON-IFRS Measures

This press release refers to “EBITDA” and “Adjusted EBITDA”  which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This financial measure is intended to provide additional information to investors concerning the  Company’s estimated results.  EBITDA is defined as earnings before interest, tax, depreciation and amortization, and Adjusted EBITDA adjusts EBITDA for share-based compensation. Both measures are used to measure of a company’s operating performance. Essentially, it is a way to evaluate a company’s performance without having to factor in financing decisions,  accounting decisions or tax environments.

Disclaimer IN REGARD TO Forward-looking statements

This news release includes certain “forward-looking statements” and “forward-looking financial outlook” (collectively, “forward-looking statements”) under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Zoomd’s future financial situation, its expected revenue growth for 2021, its ability to successfully grow revenue organically and via mergers and acquisitions, the impact and length of time of the COVID-19 pandemic on global advertising budgets and Zoomd’s revenue, its ability to meet its strategic targets on the development roadmap, the overall success of the development roadmap, its ability to realize synergies in connection with the acquisition of Performance Revenues and the overall success of the new SaaS product. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties (including the impacts of the COVID-19 pandemic), the extent and duration of which are uncertain at this time on Zoomd’s business and general economic and business conditions and markets. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.

The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.

For further information please contact: 

Company Media Contacts:
Amit Bohensky
Chairman
Zoomd
ir@zoomd.com

+972 722200555

Investor relations:
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
ZOMD@lythampartners.com