Datable Technology Corporation announces renewal with global consumer goods company
by CM Staff
The customer first licensed PLATFORM3 in 2021 under a one-year agreement to host its loyalty and consumer data programs for its U.S. incontinence brand.
VANCOUVER — Datable Technology Corporation announces that it signed an agreement on August 31, 2022, with a global consumer goods company for a two-year renewal.
The customer first licensed PLATFORM3 in 2021 under a one-year agreement to host its loyalty and consumer data programs for its U.S. incontinence brand. The two-year agreement covers the period ending July 9, 2024 and pays Datable close to $300,000 in SaaS license fees and rewards, with upside based on incremental transactions and programs. The gross margin on the revenues is expected to be more than Datable’s gross margin of 43% in the first quarter of 2022 due to the product mix.
“This renewal and extension of our agreement is a further validation of the ROI our platform is providing to global consumer goods companies,” said Robert Craig, Datable’s CEO. “This two-year renewal into 2024 provides us an opportunity to build on the consumer data driven programs we delivered in the initial one-year license. There is a significant upside in this relationship since we are currently contracted with only one of their 32 global brands.”
Datable now has over $4.7 million in revenue under contracts for 2022 and future periods, of which over $3.8 million is expected to be recognized as revenue in 2022. This includes over $4.3 million in contracted revenues and close to $400,000 in expected program fees from customers. Datable expects gross margin to be between 40% and 50% in 2022, depending on the product mix.
