-
Four civilians, soldier killed in Afghan-Pakistan border clash
-
Milan-Cortina chief admits venue time pinch as Olympic torch relay begins
-
England make quick start after Australia take big lead at Gabba
-
Finally! India break toss jinx as Rahul gets lucky
-
Will EU give ground on 2035 combustion-engine ban?
-
England nemesis Starc stretches Australia lead in Gabba Ashes Test
-
Banana skin 'double whammy' derails McIlroy at Australian Open
-
Epic Greaves double ton earns West Indies draw in first NZ Test
-
Thunder roll to 14th straight NBA win, Celtics beat depleted Lakers
-
Myanmar citizens head to early polls in Bangkok
-
Starvation fears as more heavy rain threaten flood-ruined Indonesia
-
Sri Lanka unveils cyclone aid plan as rains persist
-
Avatar 3 aims to become end-of-year blockbuster
-
Contenders plot path to 2026 World Cup glory after Trump steals show at draw
-
Greaves leads dramatic West Indies run chase in NZ Test nail-biter
-
World record-holders Walsh, Smith grab wins at US Open
-
Ukraine, US to meet for third day, agree 'real progress' depends on Russia
-
Double wicket strike as New Zealand eye victory over West Indies
-
New Memoir In Pursuit of Glory Exposes the High-Stakes Journey to from Laborer to Executive Leadership in a Male-Dominated Industry
-
Peace medal and YMCA: Trump steals the show at World Cup draw
-
NBA legend Jordan in court as NASCAR anti-trust case begins
-
How coaches reacted to 2026 World Cup draw
-
Glasgow down Sale as Stomers win at Bayonne in Champions Cup
-
Trump takes aim at Europe in new security strategy
-
Witness in South Africa justice-system crimes probe shot dead
-
Tuchel urges England not to get carried away plotting route to World Cup glory
-
Russian ambassador slams EU frozen assets plan for Ukraine
-
2026 World Cup draw is kind to favorites as Trump takes limelight
-
WHO chief upbeat on missing piece of pandemic treaty
-
US vaccine panel upends hepatitis B advice in latest Trump-era shift
-
Ancelotti says Brazil have 'difficult' World Cup group with Morocco
-
Kriecmayr wins weather-disrupted Beaver Creek super-G
-
Ghostwriters, polo shirts, and the fall of a landmark pesticide study
-
Mixed day for global stocks as market digest huge Netflix deal
-
Fighting erupts in DR Congo a day after peace deal signed
-
England boss Tuchel wary of 'surprise' in World Cup draw
-
10 university students die in Peru restaurant fire
-
'Sinners' tops Critics Choice nominations
-
Netflix's Warner Bros. acquisition sparks backlash
-
France probes mystery drone flight over nuclear sub base
-
Frank Gehry: five key works
-
US Supreme Court to weigh Trump bid to end birthright citizenship
-
Frank Gehry, master architect with a flair for drama, dead at 96
-
'It doesn't make sense': Trump wants to rename American football
-
A day after peace accord signed, shelling forces DRC locals to flee
-
Draw for 2026 World Cup kind to favorites as Trump takes center stage
-
Netflix to buy Warner Bros. in deal of the decade
-
US sanctions equate us with drug traffickers: ICC dep. prosecutor
-
Migration and crime fears loom over Chile's presidential runoff
-
French officer charged after police fracture woman's skull
| RBGPF | 0% | 78.35 | $ | |
| RELX | -0.55% | 40.32 | $ | |
| BP | -3.91% | 35.83 | $ | |
| AZN | 0.17% | 90.18 | $ | |
| GSK | -0.33% | 48.41 | $ | |
| RIO | -0.92% | 73.06 | $ | |
| NGG | -0.66% | 75.41 | $ | |
| BTI | -1.81% | 57.01 | $ | |
| RYCEF | -0.34% | 14.62 | $ | |
| VOD | -1.31% | 12.47 | $ | |
| CMSC | -0.21% | 23.43 | $ | |
| SCS | -0.56% | 16.14 | $ | |
| JRI | 0.29% | 13.79 | $ | |
| BCC | -1.66% | 73.05 | $ | |
| BCE | 1.4% | 23.55 | $ | |
| CMSD | -0.3% | 23.25 | $ |
Adcore Reports Third Quarter 2025 Results
Continued Global Momentum Across APAC & EMEA Markets
(All figures in CAD unless otherwise stated)
TORONTO, ON / ACCESS Newswire / November 13, 2025 / Adcore Inc. (the "Company" or "Adcore") (TSX:ADCO)(OTCQX:ADCOF)(FSE:ADQ), a global leader in marketing technology empowering businesses to maximize their digital marketing potential with its innovative AI-powered platform ("Marketing Cloud"), today announced its financial results for the three and nine months ended September 30, 2025.
Omri Brill, CEO and Founder of Adcore, commented, "While our third-quarter topline results reflect a period of transition, I'm encouraged by the underlying strength of our operations and the solid progress we've made this year across our key regions and initiatives."
Mr. Brill continued, "Our EMEA business grew 25% year-over-year and APAC revenue increased 7% in the quarter and 37% year-to-date, confirming the positive momentum of our international footprint. At the same time, our disciplined cost structure drove meaningful efficiency gains, with R&D expenses down 10% year-over-year and SG&A down 12% in the quarter, contributing to a 56% increase in Adjusted EBITDA year-to-date.
We also strengthened our balance sheet, growing cash and cash equivalents by 8% year-over-year, which provides the financial flexibility to keep investing in innovation and profitable growth.
On the product side, we made substantial progress with Proposaly.io, advancing its automation and client-portal capabilities to position it as a leading AI-driven proposal platform. We also launched the new marketing website, which delivers clearer messaging, improved conversion funnels, and a more unified brand experience.
These actions together with our focus on recurring revenue, efficiency, and smart product execution are setting the foundation for a stronger, more scalable company. As we head into 2026, our priorities remain clear: driving growth in our core markets, accelerating the commercialization of Proposaly, and deepening relationships with our clients worldwide.
I want to thank our teams across regions for their focus and resilience, and our shareholders for their continued trust as we execute on our long-term vision."
Third Quarter Highlights:
Revenue for the three months ended September 30, 2025, was CAD$7.6 million compared to CAD$7.8 million for the three months ended September 30, 2024, a 2% decrease.
Gross profit for the three months ended September 30, 2025, was CAD$3.1 million compared to CAD$3.7 million for the three months ended September 30, 2024, a 16% decrease.
Gross margin for the three months ended September 30, 2025, was 40% compared to 47% for the three months ended September 30, 2024.
Adjusted EBITDA for the three months ended September 30, 2025, was CAD$122,000 compared to CAD$282,000 for the three months ended September 30, 2024.
North America revenue for the three months ended September 30, 2025, was CAD$1.1 million compared to $2.1 million for the three months ended September 30, 2024, a 50% decrease.
EMEA revenue for the three months ended September 30, 2025, was CAD$3.0 million compared to CAD$2.4 million for the three months ended September 30, 2024, a 25% increase.
APAC revenue for the three months ended September 30, 2025, was CAD$3.5 million compared to $3.3 million for the three months ended September 30, 2024, a 7% increase.
Working Capital for the three months ended September 30, 2025, was CAD$5.85 million compared to CAD$7.3 million as of December 31, 2024.
CONFERENCE CALL AND WEBCAST INFORMATION
Adcore will host a webcast and conference call to discuss those results on Thursday November 13, 2025, at 10:00 a.m. ET.
To register for the conference call/webcast please click here or visit: https://investors.adcore.com/Q325.
The conference call will include a brief statement by management and will focus on answering questions about Adcore's results. Questions regarding results can be sent in advance to [email protected].
USE OF NON-IFRS MEASURES
Management uses adjusted earnings before interest, income taxes, depreciation, and amortization ("Adjusted EBITDA") as a key financial metric to evaluate Adcore's operating performance and for planning and forecasting future business operations. Adjusted EBITDA excludes significant items that are non-operating in nature in order to evaluate Adcore's core operating performance against prior periods. Adjusted EBITDA is not a measure of financial performance under GAAP and should be considered in addition to, and not as a substitute for net earnings, overall change in cash or liquidity of the business as a whole. Management believes the use of Adjusted EBITDA allows investors and analysts to understand the results of the continuing operations of the Company.
ADCORE INC.
ADJUSTED EBITDA
(Express in CAD Thousands)
Three Months Ended | |||||
September 30, 2025 | September 30, 2024 | ||||
Operating (loss) profit | (278 | ) | (122 | ) | |
Depreciation and amortization | 361 | 388 | |||
Share-based payments | 20 | 14 | |||
Other non-recurring items | 19 | 2 | |||
Total Adjustments | 400 | 404 | |||
Adjusted EBITDA | 122 | 282 | |||
ADCORE INC.
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Expressed in CAD Thousands)
Three Months Ended | |||||
September 30, 2025 | September 30, 2024 | ||||
Revenue | 7,648 | 7,844 | |||
Cost of revenues | 4,579 | 4,189 | |||
Gross profit | 3,069 | 3,655 | |||
Research and development, net | 491 | 545 | |||
Selling, general and administrative expenses | 2,856 | 3,232 | |||
Operating loss | (278 | ) | (122 | ) | |
Finance expense | 184 | 81 | |||
Finance income | (47 | ) | (29 | ) | |
Taxes expense (income) | 33 | (2 | ) | ||
Net loss | (448 | ) | (172 | ) | |
Basic loss per share attributable to shareholders | (0.007 | ) | (0.003 | ) | |
Diluted loss per share attributable to shareholders | (0.007 | ) | (0.003 | ) | |
ADCORE INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Expressed in CAD Thousands)
September 30, 2025 | December 31, 2024 | |||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 7,260 | 10,803 | ||
Trade accounts receivable, net | 5,578 | 6,561 | ||
Other accounts receivable | 402 | 624 | ||
Total current assets | 13,240 | 17,988 | ||
NON-CURRENT ASSETS: | ||||
Property, plant and equipment, net | 1,127 | 1,306 | ||
Intangible assets, net | 4,218 | 4,137 | ||
Total non-current assets | 5,345 | 5,443 | ||
Total assets | 18,585 | 23,431 | ||
CURRENT LIABILITIES: | ||||
Trade accounts payable | 5,253 | 8,156 | ||
Other accounts payable | 1,923 | 2,355 | ||
Lease liability | 213 | 200 | ||
Total current liabilities | 7,389 | 10,711 | ||
NON-CURRENT LIABILITIES: | ||||
Accrued severance pay, net | 10 | 10 | ||
Deferred tax liability, net | - | - | ||
Lease liability | 521 | 670 | ||
Total non-current liabilities | 531 | 680 | ||
SHAREHOLDERS' EQUITY: | ||||
Share capital | 11,377 | 11,760 | ||
Additional paid in capital | 3,972 | 4,018 | ||
Treasury stocks | (1,065 | ) | (1,043 | ) |
Actuarial reserve | (104 | ) | (102 | ) |
Retained earnings | (3,515 | ) | (2,593 | ) |
Total Equity | 10,665 | 12,040 | ||
TOTAL LIABILITIES AND EQUITY | 18,585 | 23,431 | ||
ABOUT ADCORE
Adcore is a leading AI-powered marketing technology company.
By combining extensive industry knowledge and experience with its proprietary artificial intelligence (AI) powered technology, Adcore offers a unique digital marketing solution that empowers entrepreneurs and advertisers by managing and automating their e-commerce store advertising and monitoring and analyzing the performance of their advertising budget to ensure maximum Return on Investment. Adcore is a certified Google Premier Partner, Elite Tier Microsoft Partner, Facebook Partner, Verified Amazon Partner, and TikTok Partner.
Established in 2006, the Company employs over fifty people in its headquarters in Tel Aviv, Israel and satellite offices in Toronto, Canada, Melbourne, Australia, Hong Kong and Shanghai, China.
For more information about Adcore, please visit https://www.adcore.com/investors/, https://www.adcore.com/blog or follow us on LinkedIn.
FORWARD-LOOKING STATEMENTS
This press release contains or may contain certain forward-looking statements, including statements about the Company and its 2026 priorities. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For further information please contact:
ADCORE INC.
https://www.adcore.com/investors/
Nick Campbell, CFA |
Investor Relations |
Telephone: 905-630-0148 |
Email: [email protected] |
SOURCE: Adcore Inc.
View the original press release on ACCESS Newswire
M.King--AT