Perk Inc. Reports 2016 Second Quarter Financial Results Highlighted by a 64% Increase in Revenues

Company to Hold Second Quarter Conference Call Today, August 12, 2016, at 12 p.m. ET

Austin, Texas, August 12, 2016 – Perk Inc. (TSX:PER) (“Perk” or “the Company”), the  Rewarded Engagement Platform that connects brands with consumers, today reported its operating and financial results for the second quarter and six month period ended June 30, 2016.

2016 Second Quarter Highlights (all comparisons to the same prior year period)    

  • Total revenue increased approximately 64% to $20.4 million.
  • Gross Profit was $9.1 million, or 45% of total revenue.
  • Net loss was approximately $0.5 million as compared to a net loss of $15.8 million.
  • Adjusted EBITDA of $2.2 million, which included approximately $1 million invested in Corona Labs, compared to $2.1 million in Adjusted EBITDA for the prior year period.
  • In April 2016, Perk Points was accepted as an alternative payment option by over 49,000 apps and games in over 190 countries and territories that use the SuperRewards platform.
  • Corona Labs entered a strategic partnership with KIDOZ, the largest content discovery network for kids, in the launch of the KIDOZ plugin, which provides developers with a kid-friendly way to monetize their apps.  
  • Subsequent to the second quarter, the Company announced the launch of Perk IQTM, a built-in analytics solution which offers brand and agency partners advanced audience targeting and insight capabilities.

2016 Year-to-Date Highlights (all comparisons to the same prior year period)     

  • Total revenue increased 106% to $37.7 million for the six months ended June 30, 2016.
  • Gross Profit was $16.8 million, or 45% of total revenue.
  • Net loss was approximately $2.8 million, as compared to a net loss of $17.4 million
  • Adjusted EBITDA of $1.6 million, compared to Adjusted EBITDA of $1.7 million for the same period of the prior year. The slight decrease in Adjusted EBITDA for the period was the result an increase in operating costs due to planned investments in the Company’s Corona Labs platform of approximately $1.5 million.
  • In February 2016, the Company completed the acquisition of the Viggle App and related assets, which consisted of a leading mobile and tablet application, brands and consumers, intellectual property including patents in the rewards category, brand and advertiser relationships, and a direct sales team. Total consideration paid was $7.3 million and the Company used a combination of stock, warrants and cash to pay for the acquisition.  
  • As of June 30, 2016, there are over 20 million registered users that have redeemed more than $21.0 million in Perk Rewards.  

Ted Hastings, Chief Executive Officer of Perk commented, “We continue to see steady growth in our user base and have more than doubled the number of Perk app downloads since this time last year, while also maintaining a strong retention level across our existing users. We achieved a 64% increase in revenues for the three-month period and returned to positive EBITDA after a seasonally slower first quarter of the year. We continue to focus on enhancing and diversifying our customer base by building direct advertising relationships with leading brands that see the value of the Perk platform. We are confident that Perk offers a solution that resonates with brands by providing a direct connection to consumers and insight into the effectiveness of their advertising dollars. As the influx of available mobile video inventory settles, we believe that Perk will remain in the forefront as a leader in the digital advertising space. In the months ahead, we will continue to invest in our business, including our Corona Labs platform and direct advertising sales team in addition to growing the Company through the further expansion of our user base and rewards platform. The team at Perk remains focused on driving shareholder value and we look forward to a successful second half of 2016.”

2016 Second Quarter Financial and Operational Review

  • Total revenue for the second quarter of 2016 increased 64% to approximately $20.4 million, as compared to approximately $12.4 million for the prior year period. Perk’s revenue increased 29% to approximately $16.0 million for the second quarter of 2016, which excludes revenues from the AppRedeem acquisition, the Playerize acquisition, the Corona acquisition and the Viggle acquisition (collectively the “Acquisitions” and acquired after June 30, 2015). The increase in advertising revenues are a result of an increase in traffic and monetization of Perk’s mobile web and desktop properties which helped to offset lower than expected fill rates and price compression from third party ad networks which was primarily the result of an abundance of available mobile video inventory in the market.   
  • For the second quarter of 2016, Perk generated advertising revenue from barter transactions of approximately $0.6 million, of which approximately $0.1 million was attributed to the Acquisitions. Excluding the impact of the approximately $0.6 million of barter transactions on the second quarter revenues, year over year revenue grew by 59% from approximately $12.4 million to approximately $19.7 million. In conjunction with the revenue generated from barter transactions, Perk recorded an increase in marketing and user acquisition expense of approximately $0.6 million. Perk did not generate advertising revenue from barter transactions during the second quarter of 2015.
  • Perk reported cost of revenue, which is comprised of the costs of the rewards provided to users, platform fees, traffic acquisition costs to its desktop and mobile websites and revenue sharing commissions, for the three months ended June 30, 2016 of approximately $11.2 million, compared to $6.7 million in the second quarter of 2015. Excluding the Acquisitions, cost of revenue increased by $3.0 million to $9.7 million from the second quarter of 2015. The increase in costs is a result of growth in monetization opportunities on the Company’s owned and operated mobile web and desktop properties.
  • Gross profit for the three months ended June 30, 2016 was approximately $9.1 million (45% of revenues), compared to approximately $5.8 million (46% of revenues) for the second quarter of 2015. The slight reduction in gross margin as a percentage of revenue was the result of the growth in monetization opportunities on the Company’s owned and operated mobile web and desktop properties which typically generate margins on revenue at a lower rate than the Company’s mobile apps business. Excluding the Acquisitions, gross profit for the second quarter of 2016 increased by $0.5 million to approximately $6.3 million or 39% of revenue as compared to the second quarter of 2015 when gross profit was approximately 46% of revenue.
  • Net loss for the three months ended June 30, 2016 was approximately $0.5 million compared to a net loss of approximately $15.8 million for same period of the prior year.  
  • Adjusted EBITDA was approximately $2.2 million for the three months ended June 30, 2016, as compared to approximately $2.1 million of Adjusted EBITDA generated in the three months ended June 30, 2015. Included in the second quarter Adjusted EBITDA of $2.2 million is approximately $1.0 million in Adjusted EBITDA loss resulting from the Corona Acquisition. Excluding the Acquisitions, Adjusted EBITDA for the three months ended June 30, 2016 was approximately $1.9 million. A table reconciling Adjusted EBITDA to net loss can be found at the end of this release.

2016 Year-to-Date Financial and Operational Review

  • Total revenue for the six months ended June 30, 2016 was approximately $37.7 million, representing a 106% increase over total revenue of approximately $18.3 million for the prior year period. Perk’s revenue, excluding the impact of the Acquisitions, increased by $12.4 million to $30.7 million for the six-month period ended June 30, 2016, as compared to the same period of the prior year.
  • Perk’s reported cost of revenue for the six months ended June 30, 2016 of approximately $20.8 million compared to $10.3 million for the prior year period. Excluding costs of revenue from the Acquisitions, cost of revenue increased for the six months ended June 30, 2016 by $7.4 million from the prior year period.
  • Gross profit for the six months ended June 30, 2016 was approximately $16.8 million (45% of revenues), compared to approximately $8.0 million (44% of revenues) for the prior year period. Excluding the Acquisitions, gross profit for the six months ended June 30, 2016 was approximately $13.1 million or 42% of revenue as compared to the first six months of 2015 when gross profit was approximately 44% of revenue.
  • Perk generated advertising revenue from barter transactions for the first six months of 2016 of approximately $2.2 million, of which approximately $0.2 million was attributed to the Acquisitions. Revenue for the six-month period ended June 30, 2016, excluding the impact of the approximately $2.2 million in barter transactions, grew by 94% from approximately $18.3 million to approximately $35.5 million. In conjunction with the revenue generated from barter transactions, Perk recorded an increase in marketing and user acquisition expense of approximately $2.2 million for the six-month period ended June 30, 2016. Perk did not generate advertising revenue from barter transactions during the first six months of 2015.
  • Net loss for the six months ended June 30, 2016 was approximately $2.8 million compared to a net loss of approximately $17.4 million for same period of the prior year.  The current year net loss is impacted by $2.1 million of amortization and depreciation expense, $1.3 million of share based payment expense, $0.7 million of transaction and restructuring costs, and $0.4 million of interest accretion expense on non-interest bearing provisions.
  • For the six months ended June 30, 2016, Adjusted EBITDA was approximately $1.6 million, a decrease of $0.1 million when compared to the same six months of the prior year.  Included in the year-to-date Adjusted EBITDA of $1.6 million is approximately $1.5 million in Adjusted EBITDA loss resulting from the Corona Acquisition. Excluding the Adjusted EBITDA loss of approximately $0.9 million generated by the Acquisitions during the first six months of 2016, Adjusted EBITDA was approximately $1.7 million.

Balance Sheet Summary

  • Perk had cash and investments of approximately $12.5 million at June 30, 2016 compared with approximately $17.5 million at December 31, 2015. The year to date decrease in cash is the result of approximately $2.2 million in cash taxes paid, $1.1 million in payments against term loans /contingent consideration in addition to non-cash working capital items using approximately $1.6 million in cash. The majority of the cash required for working capital was used to reduce the Company’s unredeemed rewards liability in addition to reducing our trade and accounts payable balances.
  • At June 30, 2016, shareholders’ equity was approximately $36.8 million, compared to approximately $32.1 million at December 31, 2015.

 

Conference Call Details

Date/Time: Friday, August 12, 2016, at 12 p.m. ET

Live Participant Dial-In (Toll-Free US & Canada):   877-407-9711

Live Participant Dial-In (International):   412-902-1014
Webcast

The call will also be simultaneously webcast over the Internet via the “Investor Relations” section of Perk’s website at ir.perk.com or by clicking on the conference call link:  http://perk.equisolvewebcast.com/q2-2016.

 

About Perk Inc.

Perk’s Rewarded Engagement Platform brings together the interests of advertisers and consumers to deliver profound insights and actionable results. With Perk, brands form deep connections with consumers to achieve greater engagement, loyalty, and conversion. Perk’s insights and intelligence solution, Perk IQ™, allows brands to measure performance and uncover valuable data around advertising attribution, brand impact, and purchase behavior.

Additional information about Perk Inc. can be found at the Company’s corporate website: www.ir.perk.com.

 

Financial Information

A copy of Perk’s unaudited interim condensed consolidated financial statements for the three and six months ended June 30, 2016, which are prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”) and Perk’s Management’s Discussion & Analysis, will be available on or before August 12, 2016 via the Canadian Securities Administrators’ website at www.sedar.com or through the Company’s website at www.ir.perk.com.

Non-IFRS Measures

The Company defines Adjusted EBITDA as net income (loss) from operations before: (a) depreciation of property and equipment and amortization of intangible assets; (b) share-based compensation, (c) income tax expense (recovery) and (d) other charges, net. Management uses Adjusted EBITDA as a measure of the Company’s operating performance because it provides information related to the Company’s ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry. Adjusted EBITDA should be used in addition to and in conjunction with the results presented in the Company’s unaudited interim condensed consolidated financial statements prepared in accordance with IAS 34. Management strongly encourages investors to review the Company’s financial statements in their entirety and to not rely on any single financial measure. As non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-IFRS financial measures having the same or similar names.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, including which may relate to, but which are not be limited to, Perk’s business; Perk’s strategy, operations and financial performance; Perk’s user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to Perk’s SDK’s; Perk’s ability to successfully enter new business areas and geographic markets; success of new products developed by Perk; Perk’s ability to retain key members of its management team; and certain other risk factors set forth in Perk’s Management’s Discussion and Analysis for the three and six months ended June 30, 2016. Perk does not undertake to update any forward-looking statement, except as required by law.

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Perk Inc. Launches Perk IQ™, an Advanced Audience Targeting and Insights Solution

Austin, Texas July 25, 2016 –– Perk Inc. (TSX: PER) (“Perk” or “the Company”), the Rewarded Engagement Platform that connects brands with consumers, today announces the launch of Perk IQ™, a built-in analytics solution which offers brand and agency partners advanced audience targeting and insights capabilities.

Perk IQ enables advanced segmentation and audience targeting across Perk properties to help brands target consumers who fit specific audience segments. It also measures campaign performance, advertising attribution, in-store visits, and advertising-driven purchase behavior. With Perk IQ, all brand advertisers on the Perk platform have access to custom research and analytics, including pre- and post-campaign studies.

Perk IQ and Perk’s Rewarded Engagement Platform are proven to drive increases in engagement rates, brand awareness, advertising recall, and purchase intent. A recent Perk IQ post-campaign study for a global consumer packaged goods company saw a 200% increase in purchase intent with the Perk Rewarded Engagement Platform.

“Some people question the efficacy of rewarded engagements and the results they drive for brands. Perk IQ proves the value with industry-leading data capabilities,” says Ted Hastings, Chief Executive Officer of Perk. “Through our first-party data and the Perk Plastik debit card powered by Discover, our partners now have the ability to target and measure performance against a wide range of data points. Partners are able to obtain insights throughout the entire buyer’s journey, including the ability to tie content and advertising engagement to in-store visits, brand lift, and purchase behavior.”

About Perk Inc.

Perk’s Rewarded Engagement Platform brings together the interests of advertisers and consumers to deliver profound insights and actionable results. With Perk, brands form deep connections with consumers to achieve greater engagement, loyalty, and conversion. Perk’s insights and intelligence solution, Perk IQ™, allows brands to measure performance and uncover valuable data around advertising attribution, brand impact, and purchase behavior.

Additional information about Perk Inc. can be found at the Company’s corporate website: http://www.ir.perk.com.

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Perk.com Inc. Reports 2016 First Quarter Financial Results Highlighted by a 194% Increase in Revenues and Expansion to Over 50 Million Registered Users

Company to Hold Quarterly Conference Call Today, May 12, 2016, at 12 p.m. ET

Austin, Texas, May 12, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or “the Company”), a leading cloud-based mobile rewards platform provider, today reported its operating and financial results for the first quarter ended March 31, 2016. Unless otherwise noted, all amounts are in US dollars.

2016 First Quarter Highlights (all comparisons to the same period of the prior year)

  • Total revenue increased 194% to approximately $17.3 million.
  • Gross profit was approximately $7.7 million, or 45% of total revenue, compared to approximately $2.3 million or 38% of total revenue in 2015.
  • On February 8, 2016, the Company completed the acquisition of the Viggle App, and its related assets which include intellectual property such as the Viggle brand name, patents in the rewards category, brand and advertiser relationships, and a direct sales team (“Viggle Acquisition”).
  • Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) was approximately ($0.6) million compared to Adjusted EBITDA of approximately ($0.5) million in 2015 despite the approximately $1.0 million of first quarter Adjusted EBITDA losses attributed to Viggle and Corona acquisitions.
  • Perk partnered with Thumbstar Games in the launch of their app, Learn2Fly, which includes Perk’s Appsaholic Rewarded Moments SDK. Thumbstar Games intends to integrate Perk’s rewards platform into all of its legacy products and future game launches which includes a user base of over 50 million worldwide.
  • In an effort to further expose Perk’s market-leading mobile rewards program to a larger, global audience, the Company partnered with leading mobile marketing firm, Celltick, to be the firm’s global rewards provider for its Start app.
  • Net loss was approximately $2.3 million, largely due a year over year increase in share based compensation expense in addition to acquisition related expenses that contributed to higher general and administrative expenses, amortization costs, and transaction fees.

Ted Hastings, Chief Executive Officer of Perk commented, “We had a successful first quarter. We completed the Viggle acquisition, which broadened our advertising partnerships with the addition of a direct-ad sales team. We strategically aligned the Perk brand with other leaders in their respective industries. We increased the Company’s total revenue by 194% for the first quarter 2016, expanded our user base to over 50 million registered users, and to date, have paid out over $20 million in rewards to our users. Perk is quickly becoming a worldwide leading mobile rewards platform and the acquisitions completed in 2015 and early 2016 are consistent with the Company’s ongoing objectives of maintaining a strong capital position while increasing its user base and advertising inventory.

“In the months ahead, we will continue to invest in marketing efforts that will contribute to the buildout of the Perk brand and look to increase our investments in our direct-ad sales team and Corona platform. We believe these efforts and investments will lead to an increase in advertising opportunities that will further generate higher revenues for the Company. We believe Perk’s mobile rewards platform offers advertisers a unique value proposition that allows brands to connect with consumers in meaningful ways that results in the monetization of our apps and websites as well as the apps of our third party publishers. We believe that as we continue to invest in our Corona platform and invest in building out seamless monetization partnerships and solutions for the platform, we will attract even more developers to join our existing network of over 300,000+ developers around the globe. We are focused on continuing to invest in organic growth and targeted acquisitions that accelerate our business objectives and produce solid returns for our shareholders over the long term.”

Acquisition of Viggle

  • During the first quarter 2016, the Company completed the Viggle Acquisition. Total consideration paid was $7.3 million and the Company used a combination of stock, warrants and cash to pay for the acquisition.  

2016 First Quarter Financial and Operational Review

  • Total revenue for the first quarter of 2016 was approximately $17.3 million, representing a 194% increase over total revenue of approximately $5.9 million for the prior year period. Perk’s organic revenue increased to approximately $8.4 million for the first quarter of 2016, which excludes revenues from the Orion acquisition, the AppRedeem acquisition, the Playerize acquisition, the Corona acquisition and the Viggle acquisition (collectively the “Acquisitions”). The increase in revenues was the result of several factors, which include an increase in users, an increase in the number of apps launched and the use of those apps, an increase in the amount of advertising inventory available and an increase in monetization opportunities available from Perk’s apps during the period.
  • During the first quarter of 2016 Perk generated advertising revenue from barter transactions of approximately $1.6 million, of which approximately $0.1 million was attributed to the Acquisitions. Excluding the impact of the approximately $1.5 million of barter transactions on the first quarter revenues, year over year revenue grew by 17% from approximately $5.9 million to approximately $6.9 million. Barter transactions involve Perk exchanging un-filled advertising space on its apps and in return receiving advertisements for the Perk brand on the apps and websites of, third party, digital publishers. The Company believes that barter transactions provide the Perk brand with greater exposure at no cost and while utilizing un-filled advertising space on the Perk mobile apps. In conjunction with the barter revenue, Perk recorded an increase in marketing and user acquisition expense of approximately $1.6 million. Perk did not generate advertising revenue from barter transactions during the first quarter of 2015.
  • Perk reported cost of revenue, which is comprised of the costs of the rewards provided to users, platform fees, and revenue sharing commissions, for the three months ended March 31, 2016 of approximately $9.6 million, compared to approximately $3.6 million for the first quarter of 2015. Excluding the impact of the Acquisitions, the Company’s cost of revenue was approximately $3.5 million for the three-month period ended March 31, 2016.  
  • Gross profit for the three months ended March 31, 2016 was approximately $7.7 million or 45% of total revenue, compared to approximately $2.3 million or 38% of total revenue for the first quarter of 2015. Excluding the impact of the Acquisitions, gross profit for the first quarter of 2016 was approximately $4.9 million (59% of revenues). Excluding the impact from the barter transactions, gross profit for the first quarter of 2016 was approximately $3.4 million (49% of revenues). The increase in gross profit was due to an increase in revenue as result of a larger user base, an increase in monetization opportunities and an increase in usage of the Company’s apps in 2015.  
  • Net loss for the three months ended March 31, 2016 was approximately $2.3 million, compared to a net loss of approximately $1.5 million, for the same period of the prior year. The increase in net loss for the first quarter 2016 was the result of an increase in share based compensation expense, an increase in transaction costs and an increase in intangibles amortization as a result of the Acquisitions.
  • Adjusted EBITDA was approximately ($0.6) million for the three months ended March 31, 2016, as compared to approximately ($0.5) million of Adjusted EBITDA generated in the three months ended March 31, 2015. A table reconciling Adjusted EBITDA to net loss can be found at the end of this release.     

Balance Sheet Summary

  • Perk had cash and investments of approximately $14.5 million at March 31, 2016 compared with approximately $17.5 million at December 31, 2015. The decrease in available cash in the first quarter was the result of approximately $2.5 million used towards operating activities, with majority of the use being $2.0 million in income tax payments. Additionally, in the first quarter, the Company used $0.1 million for capital asset additions and $0.5 million was used to repay loans and provisions in the first quarter.
  • At March 31, 2016, shareholders’ equity was approximately $36.7 million, compared to approximately $32.1 million at December 31, 2015.

Conference Call Details

Date/Time: Thursday, May 12, 2016, at 12 p.m. ET

Live Participant Dial-In (Toll-Free US & Canada):   877-407-9711

Live Participant Dial-In (International):   412-902-1014

Webcast

The call will also be simultaneously webcast over the Internet via the “Investor Relations” section of Perk’s website at ir.perk.com or by clicking on the conference call link:  http://perk.equisolvewebcast.com/q1-2016.

About Perk.com Inc.

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates mobile applications and websites that allow members to earn rewards such as Perk Points and digital goods. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Rewards Platform, powered by Corona Labs, which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites.

Additional information about Perk.com Inc. can be found at the Company’s corporate website: www.ir.perk.com.

Financial Information

A copy of Perk’s unaudited interim condensed consolidated financial statements for the three months ended March 31, 2016, which are prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (“IAS 34”) and Perk’s Management’s Discussion & Analysis, will be available on or before May 12, 2016 via the Canadian Securities Administrators’ website at www.sedar.com or through the Company’s website at www.ir.perk.com.

Non-IFRS Measures

The Company defines Adjusted EBITDA as net income (loss) from operations before: (a) depreciation of property and equipment and amortization of intangible assets; (b) share-based compensation, (c) income tax expense (recovery) and (d) other charges, net. Management uses Adjusted EBITDA as a measure of the Company’s operating performance because it provides information related to the Company’s ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry. Adjusted EBITDA should be used in addition to and in conjunction with the results presented in the Company’s unaudited interim condensed consolidated financial statements prepared in accordance with IAS 34. Management strongly encourages investors to review the Company’s financial statements in their entirety and to not rely on any single financial measure. As non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-IFRS financial measures having the same or similar names.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, including which may relate to, but which are not be limited to, Perk’s business; Perk’s strategy, operations and financial performance; Perk’s user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Perk’s SDK’s; Perk’s ability to successfully enter new business areas and geographic markets; success of new products developed by Perk; Perk’s ability to retain key members of its management team; and certain other risk factors set forth in Perk’s Management’s Discussion and Analysis for the quarter ended March 31, 2016. Perk does not undertake to update any forward-looking statement, except as required by law.

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Perk to Host Investor Day and Annual Shareholders Meeting on Wednesday, June 8, 2016 in Toronto

Austin, Texas May 2, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or the “Company”) a leading cloud-based mobile rewards platform provider, today announced it will host an Investor Day in Toronto, Canada on Wednesday, June 8, 2016 at 11:30 am Eastern Time, immediately following its Annual and Special Meeting of Shareholders (the “Annual Meeting”). Management will discuss a range of topics including Perk’s growth over the past year, an overview of the mobile rewards space and key items that are impacting the industry today. 

Perk’s Chief Executive Officer, Ted Hastings, will lead the forum and provide attendees with a strategic overview and outlook of the Company for the remainder of 2016 and beyond. A panel consisting of key members of management for each division of the Company’s operations will also participate in the discussion, providing an in-depth perspective on areas that are vital to the growth of Perk’s business. The Company’s board of directors will be on-site for this meeting as well.

A record date of April 22, 2016 was set for determining shareholders entitled to receive notice of the Annual Meeting, which will be led by the Company’s Chairman, Jordan Kupinsky. Details, location, and the agenda for the Annual Meeting will be set forth in the Company’s management information circular to be mailed to shareholders and filed on SEDAR this month.

Interested Parties for Perk’s Investor Day

Individuals interested in attending can contact Terry Downs of The Equity Group Inc. at tdowns@equityny.com or by calling (212) 836-9615.

Investor Day Presentation

The presentation portion of the day will be made available via the “Investor Relations” section of Perk’s website at http://ir.perk.com/.  

About Perk

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates mobile applications and websites that allow members to earn rewards such as Perk Points and digital goods. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Rewards Platform, powered by Corona Labs, which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites.

Additional information about Perk.com Inc. can be found at the Company’s corporate website: http://www.ir.perk.com.

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Perk.com Inc. Reports – Record 2015 Fourth Quarter and Year End Financial Results

Company to Hold Quarterly Conference Call Today, March 11, 2016, at 12 p.m. ET

Austin, Texas, March 11, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or “the Company”), a leading cloud-based mobile rewards platform provider, today reported its operating and financial results for the fourth quarter and twelve-month period ended December 31, 2015. Unless otherwise noted, all amounts are in US dollars.

2015 Fourth Quarter Highlights (all comparisons to the same period of the prior year)

  • Total revenue increased to $17.7 million, an increase of 155%.
  • Gross profit was $9.1 million, or 51% of total revenue.
  • Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) was $4.5 million, an increase of 997% compared to $0.4 million.
  • Net income was approximately $1.3 million, which included $0.8 million in non-recurring transaction costs incurred during the quarter.
  • The Company partnered with NBC Universal to promote the launch of the Esquire Network’s first scripted series, which resulted in a 10% increase in viewership for the Network.
  • In November 2015, the Company expanded its reward platform with the acquisition of SuperRewards, an innovator in alternative payments and virtual rewards.
  • In December 2015, the Company closed the acquisition of Corona Labs Inc. (“Corona”), an established platform for mobile app development which accelerated the distribution of Perk’s SDK to third party developers.
  • In December 2015, the Company entered an asset purchase agreement to acquire the Viggle App, and its related assets which include intellectual property (including Viggle brand and name as well as patents in the rewards category), brand and advertiser relationships, and a direct sales team (the “Viggle Assets”). In the first quarter 2016, the Company completed the transaction.

2015 Annual Highlights (all comparisons to the prior year)

  • Total revenue increased 188% to $49.3 million for the year ended December 31, 2015.
  • Gross profit was $23.4 million, or 47% of total revenue.
  • Adjusted EBITDA of $8.4 million, compared to $0.8 million.  
  • Net loss was approximately $17.1 million, compared to $2.2 million. As a result of the restatement (the “FS Restatement”) announced by the Company on March 3, 2016, the Company has recorded non-cash revaluation losses in its 2015 and 2014 consolidated statements of operations of approximately $18 million and $2.2 million respectively related to the preferred shares and preferred share warrants which were fully eliminated upon conversion of such preferred shares and preferred share warrants to common shares of Perk (“Perk Shares”) as part of the July 2015 Reverse Take-Over Transaction .
  • Acquired prior to the Reverse Take-Over Transaction, all of the assets of Orion Foundry (Canada) Inc. (“Tsavo”) to extend Perk’s rewards platform.
  • Completed private placement transaction for total gross proceeds of $19.6 million.
  • Completed the acquisition of AppRedeem Inc. (“AppRedeem”), an innovator in rewarded video for mobile devices in an all-stock transaction.
  • Introduced Perk Plastik, a new prepaid debit card that runs via the Discover Network and allows users to convert Perk Points into money available to be used at any retail or online establishment.  
  • Launched Perk.TV.
  • As of December 31, 2015, there have been over 10 million installations of Perk apps and users have redeemed more than $20 million worth of digital rewards.

Ted Hastings, Chief Executive Officer of Perk commented, “2015 was a transformational year for Perk, as we made significant progress in our strategy to become the world’s leading mobile rewards platform provider. We broadened our advertising partnerships, increased inventory, grew our engaged user base, and enhanced our capabilities through defined, strategic M&A.  The Company achieved these milestones while also maintaining profitability and generating free cash flow, with large percentage gains in both revenues and Adjusted EBITDA.  We have $16.6 million in available cash and are now turning our focus to building out our direct advertising sales team to take advantage of the large and growing active user base and the expanded platform we have built.  In 2016, Perk can now leverage a wide mobile and online platform to provide third-party developers a system in which to monetize their products, while building an eco-system of apps and programs that promote consistent user interaction without disrupting their daily lives.  We believe that the Company can achieve robust profitable growth in 2016 as we achieve scale within our infrastructure.”  

Acquisition Activity

  • The Company entered into an asset purchase agreement on December 13, 2015 with Viggle Inc. (“Viggle”) to acquire the Viggle Assets (the “Viggle Acquisition”).
  • On December 3, 3015, Perk acquired Corona for total consideration of $2.2 million, pursuant to the terms of a share purchase agreement. Corona produces the award winning Corona SDK, which allows developers to create cross platform applications, games and books.  
  • On November 25, 2015, the Company acquired Playerize Networks Inc. (“Playerize”), the creator of SuperRewards a worldwide direct payment network and performance advertising platform that provides developers with monetization opportunities while delivering brands to consumers. Total consideration for the acquisition was $1.6 million.
  • On September 21, 2015, Perk acquired 100% of AppRedeem, a San Francisco based innovator in rewarded video for mobile devices. Total consideration for the acquisition was 831,601 Perk Shares, valued at $2.6 million.
  • On April 17, 2015, the Company acquired substantially all of the assets and liabilities of Tsavo. The purchased assets provided the Company with a publishing and analysis platform providing a network of rich content websites. As consideration for the acquisition, the Company is required to pay the Vendor 50% of the EBITDA generated from the purchased assets, on a quarterly basis, until April 17, 2018, subject to a minimum of $2 million in cumulative payments over the 3 year term.

Subsequent Acquisition Activity / Viggle

  • On February 8, 2016, the Company completed the Viggle Acquisition. Consideration paid for the acquisition, pursuant to the asset purchase agreement was $1.0 million of cash; 1,370,000 of Perk Shares valued at approximately $3.7 million, based on the closing price per Perk Share of  CAD $3.75 (U.S. $2.69) on February 5, 2016; 2,000,000 Perk Shares to be issued if the Company’s total revenues exceed $130 million for the year ended December 31, 2016 or December 31, 2017; a warrant to purchase 1,000,000 Perk Shares at a strike price of CAD $6.25 per Perk Share in the event that the Perk Shares’ volume weighted average price (“VWAP”) is greater than or equal to CAD $12.50 for 20 consecutive trading days in the two year period following February 8, 2016; and a warrant to purchase 1,000,000 Perk Shares at a strike price of CAD $6.25 per Perk Share in the event that the Perk Shares’ VWAP is greater than or equal to CAD $18.75 for 20 consecutive trading days in the two year period following February 8, 2016.

2015 Fourth Quarter Financial and Operational Review

  • Total revenue for the fourth quarter of 2015 was approximately $17.7 million, representing a 155% increase over total revenue of approximately $6.9 million for the prior year period. Excluding revenues from the Tsavo acquisition, the AppRedeem acquisition, the Playerize acquisition and the Corona acquisition (collectively the “2015 Acquisitions”), Perk’s revenue increased to $10.7 million from the fourth quarter of 2014. The increase in revenues was the result of several factors, which include an increase in users, an increase in the number of apps launched, and the use of those apps, an increase in the amount of advertising inventory available and an increase in monetization opportunities available from Perk’s apps during the period.
  • Perk reported cost of sales, which is comprised of the costs of the rewards provided to users, platform fees, and revenue sharing commissions, for the three months ended December 31, 2015 of approximately $8.6 million, compared to $4.0 million in the fourth quarter of 2014. Excluding the impact of the 2015 Acquisitions, the Company was able to manage its cost of sales increase year over year to 10% while it increased fourth quarter revenues by 55%.
  • Gross profit for the three months ended December 31, 2015 was approximately $9.1 million or 51% of total revenue, compared to approximately $3.0 million or 43% of total revenue for the fourth quarter of 2014. Excluding the impact of the 2015 Acquisitions, gross profit for Q4 was $6.4 million (60% of revenues) compared to gross profit of $3 million (43% of revenues) in fiscal 2014. The increase in gross profit was due to an increase in revenue as result of a larger user base and increase in usage of the Company’s apps in 2015.  
  • Net income for the three months ended December 31, 2015 was approximately $1.3 million, compared to a net loss of approximately $2.2 million, for the same period of the prior year.  The loss in 2014 was impacted by $2.2 million related to the FS Restatement previously discussed.
  • Adjusted EBITDA was approximately $4.5 million for the three months ended December 31, 2015, an increase of approximately $4.1 million or 997%, as compared to $0.4 million Adjusted EBITDA generated in the three months ended December 31, 2014. A table reconciling Adjusted EBITDA to net income can be found at the end of this release.

2015 Year-End Financial and Operational Review

  • Total revenue for the twelve months ended December 31, 2015 was approximately $49.3 million, representing a 188% increase over total revenue of approximately $17.1 million for the prior year period. Perk’s revenue, excluding revenues generated from the 2015 Acquisitions, increased 88% to $32.2 million.
  • Perk reported cost of sales for the year ended December 31, 2015 of approximately $25.9 million compared to $8.2 million for the prior year period. Excluding the results from the 2015 Acquisitions, cost of sales increased to $14.9 million from $8.2 million in 2014, as a result of an increase in apps launched, increase in app usage, and an increase in rewards paid out to users.
  • Gross profit for the year ended December 31, 2015 was approximately $23.4 million (47% of revenues), compared to approximately $9.0 million (52% of revenues) for the prior year period. Excluding the impact from the 2015 Acquisitions, gross margin in 2015 increased by $8.3 million to $17.3 million (54% of revenues) from 2014 when gross margin was 52% of revenues.
  • Net loss for the year ended December 31, 2015 was approximately $17.1 million compared to a net loss of approximately $2.2 million for the prior year period. The 2015 net loss was impacted by $2.3 million of 2015 transaction expenses and the $18 million impact of the FS Restatement discussed above. The non-cash FS Restatement impact in the 2014 statements was $2.2 million.
  • For the twelve months ended December 31, 2015, Adjusted EBITDA was approximately $8.4 million, as compared to $0.8 million Adjusted EBITDA for the prior year period.  

Balance Sheet Summary

  • Perk had cash of approximately $16.6 million at December 31, 2015 compared with approximately $2.3 million at December 31, 2014.  At December 31, 2015, shareholders’ equity was approximately $32.1 million, compared to a deficiency of $2.3 million at December 31, 2014.   

Conference Call Details

Date/Time: Friday, March 11, 2016, at 12 p.m. ET

Live Participant Dial-In (Toll-Free US & Canada):   877-407-9711

Live Participant Dial-In (International):   412-902-1014

Webcast

The call will also be simultaneously webcast over the Internet via the “Investor Relations” section of Perk’s website at ir.perk.com or by clicking on the conference call link:  http://perk.equisolvewebcast.com/q4-2015.

About Perk.com Inc.

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates mobile applications and websites that allow members to earn rewards such as Perk Points and digital goods. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Rewards Platform, powered by Corona Labs, which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites.

Additional information about Perk.com Inc. can be found at the Company’s corporate website: www.ir.perk.com.

Financial Information

A copy of Perk’s audited consolidated financial statements for the twelve months ended December 31, 2015, which are prepared in accordance with International Financial Reporting Standards (“IFRS”) and Perk’s Management’s Discussion & Analysis, will be available on or before March 21, 2016 via the Canadian Securities Administrators’ website at www.sedar.com or through the Company’s website at www.ir.perk.com.

Non-IFRS Measures

The Company defines Adjusted EBITDA as net income (loss) from operations before: (a) depreciation of property and equipment and amortization of intangible assets; (b) share-based compensation, and (c) other charges, net. Management uses Adjusted EBITDA as a measure of the Company’s operating performance because it provides information related to the Company’s ability to provide operating cash flows for acquisitions, capital expenditures and working capital requirements. The Company also believes that analysts and investors use Adjusted EBITDA as a supplemental measure to evaluate the overall operating performance of companies in its industry. Adjusted EBITDA should be used in addition to and in conjunction with the results presented in the Company’s consolidated financial statements prepared in accordance with IFRS. Management strongly encourages investors to review the Company’s financial statements in their entirety and to not rely on any single financial measure. As non-IFRS financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-IFRS financial measures having the same or similar names.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements, including which may relate to, but which are not be limited to, Perk’s business; Perk’s strategy, operations and financial performance; Perk’s user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Perk’s SDK’s; Perk’s ability to successfully enter new business areas and geographic markets; success of new products developed by Perk; Perk’s ability to retain key members of its management team; and certain other risk factors set forth in Perk’s Management’s Discussion and Analysis for the year ended December 31, 2015. Perk does not undertake to update any forward-looking statement, except as required by law.

 

Read Complete Results here

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Perk.com Inc. Schedules 2015 Fourth Quarter Financial Results and Conference Call

Austin, Texas, March 9, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or “the Company”), announced today that it expects to release its financial results for the fourth quarter ended December 31, 2015 on Friday, March 11, 2016.

Perk will conduct its quarterly conference call to discuss these results later that day at 12:00 p.m. ET.

The dial-in numbers are:
Live PARTICIPANT Dial-In (Toll-Free US & Canada): 877-407-9711
Live PARTICIPANT Dial-In (International): 412-902-1014

To listen to the live webcast, please go to ir.perk.com and click on the conference call link at the top of the page, or go to: http://perk.equisolvewebcast.com/q4-2015.

About Perk.com Inc.

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates mobile applications and websites that allow members to earn rewards such as Perk Points and digital goods. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Rewards Platform, powered by Corona Labs, which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites.

Additional information about Perk.com Inc. can be found at the Company’s corporate website: http://ir.perk.com.

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Perk.com Inc. Announces Intention to Restate Fiscal 2014 Financial Statements to Reflect Incorrect Recording of Non-Cash Amount

AUSTIN, Texas – March  3, 2016 – Perk.com Inc. (TSX:PER) (“Perk” or the “Company”), today announced that the Company’s previously issued 2014 audited financial statements must be restated as a result of an error in the disclosure and valuation of liabilities associated with Series A Preferred Shares and Preferred Share Warrants, which liabilities were fully eliminated upon conversion of such Preferred Shares and Warrants to common shares as part of the July 2015 Reverse Take-Over (“RTO”) Transaction.

The restatement will have no impact on Perk’s cash balance or total assets as at December 31, 2015. In addition, Perk’s 2014 and 2015 revenues, gross profit, operating expenses and adjusted EBITDA as previously reported will be unaffected by this change.

The restatement is being made upon the recommendation of the Company’s new auditors, Deloitte LLP, (the “Auditors”) following an in-depth review by the Auditors of the terms of the Series A Preferred Shares (the “Preferred Shares”) and Preferred Share Warrants (the “Warrants”) that were issued in 2011 and converted to common shares of Perk on July 10, 2015. The restatement will result in certain amounts which were recorded as equity in the Company’s Statement of Financial Position as at December 31, 2014, March 31, 2015, and June 30, 2015, being reclassified as a liability and will also result in certain non-cash losses being recorded on the Company’s Consolidated Statements Income and Comprehensive Income, Stockholder’s Equity and Cash Flows for the periods up to June 30, 2015.

The review indicated that the Preferred Shares conversion option and the Warrants contained features which the Auditors advise, under International Financial Reporting Standards (“IFRS”), should have been accounted for as a liability at fair value and re-valued as at December 31, 2014, March 31, 2015 and June 30, 2015, with any changes in fair value recorded as a charge to net income. Also, due to certain terms associated with the Preferred Shares, the Preferred Shares and Warrants should have been classified as a liability. As a result, liabilities for the Warrants, Preferred Shares and the fair value of the derivative liability related to the Preferred Shares should have been recorded. At the end of each reporting period, fair value of both the derivative liability related to the Preferred Shares and Warrants should have been reviewed and a gain and/or loss on the revaluations recorded which would have impacted the Consolidated Statement of Income and Comprehensive Income. There is no impact to the number of Preferred Shares and Warrants which converted to common shares of Perk on a one for one basis pursuant to the RTO on July 10, 2015.

The restatement will impact the Consolidated Balance Sheets for previous periods and the Consolidated Statements of Income and Comprehensive Income, Stockholder’s Equity and Cash Flows for the periods up to June 30, 2015. Accordingly, investors should no longer rely upon the Company’s previously issued financial statements, as well as the corresponding Management Discussion & Analysis (“MD&A”), and other financial data relating to this period and prior periods.

The Company has dedicated substantial resources to complete this review of the impact of the adjustments with the Auditors and expects to issue its audited financial results as at and for the year ended December 31, 2015 with restated comparative figures as at and for the year ended December 31, 2014 on or before March 21, 2016. Additional information regarding the restatement of the December 31, 2014 financial statements will be provided in the Company’s 2015 audited financial statements and 2015 MD&A.

About Perk

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card.  Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates 15 mobile applications that allow members to earn rewards such as Perk Points and digital goods. Perk also operates numerous websites as well as AppTrailers, a leading mobile video rewards app. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Platform, Appsaholic which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites. The Perk Platform was further expanded through the acquisitions of SuperRewards, a rewards and alternative payments platform for publishers and developers as well as Corona Labs, an app development platform that allows developers to develop apps for both iOS & Android.

Additional information about Perk can be found at its corporate website: ir.perk.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements, including with respect to Perk’s business: the anticipated benefits of the Acquisition; the anticipated effect of the Acquisition on Perk’s strategy, operations and financial performance; user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners before and following the Acquisition; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Appsaholic SDK; and Perk’s ability to successfully enter new business areas and geographic markets, including integration of the acquired business from Viggle; success of new products developed by Perk and Perk’s ability to retain key members of its management team. Perk’s Management does not undertake to update any forward-looking statement, except as required by law.

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Perk.com Inc. Announces Partnership with Thumbstar Games to Leverage Success of the Company’s Mobile Rewards Platform

Perk’s Appsaholic Rewarded MomentsTM SDK to be Integrated into Thumbstar Games Learn2Fly App

Austin, Texas, March 1, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or the “Company”), a leading cloud-based mobile rewards platform provider, today announced it has entered into a partnership with Thumbstar Games, a leading digital developer, distributor and publisher of mobile games.

Perk has partnered with Thumbstar Games in the launch of their app, Learn2Fly, which will include Perk’s Appsaholic Rewarded Moments SDK, a highly customizable software development kit that leverages Perk’s rewards platform to retain, engage and monetize users with Perk Points and real-world rewards. Thumbstar Games intends to integrate Perk’s rewards platform into all of its legacy products and future game launches which includes over 50 million users worldwide.

Adam Salamon, Chief Operating Officer of Perk, stated: “Perk’s Appsaholic Rewarded Moments SDK provides publishers with an opportunity to reward, retain, and monetize their users by utilizing our mobile rewards program. The same mobile rewards program that has garnered so much success for the Company and accelerated us to the number one position as a mobile rewards provider. We are excited to partner with a leading publisher such as Thumbstar Games to bring rewards to their large, global user base.”

Martin Kitney, Chief Operating Officer of Thumbstar Games, stated: “User retention is a huge challenge faced by our industry and the Rewarded Moments SDK allows us to utilize the power of rewards to keep users engaged and coming back to our apps. Perk has proven that they know rewards and retention better than anyone in the mobile industry, so the choice to integrate the Appsaholic Rewarded Moments SDK was an easy one.”

About Thumbstar Games

Thumbstar Games is a UK based mobile games service provider. We represent over 50 developers, artists and brand owners worldwide. Thumbstar originally started out in 2008 as an aggregator / publisher of mobile games for J2Me, Windows Mobile, RIM BlackBerry and Symbian. Since then, Thumbstar has expanded its business offering to become a digital developer, distributor and publisher of mobile entertainment lifestyle applications and digital art (wallpapers and themes).

About Perk

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates 15 mobile applications that allow members to earn rewards such as Perk Points and digital goods. Perk also operates numerous websites as well as AppTrailers, a leading mobile video rewards app. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Platform, Appsaholic which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites. The Perk Platform was further expanded through the acquisitions of SuperRewards, a rewards and alternative payments platform for publishers and developers as well as Corona that allows developers to develop apps for both iOS & Android.

Additional information about Perk can be found at its corporate website: ir.perk.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements, including with respect to Perk’s business: the anticipated benefits of the Acquisition; the anticipated effect of the Acquisition on Perk’s strategy, operations and financial performance; user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners before and following the Acquisition; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Appsaholic SDK; and Perk’s ability to successfully enter new business areas and geographic markets, including integration of the acquired business from Viggle; success of new products developed by Perk and Perk’s ability to retain key members of its management team. We do not undertake to update any forward-looking statement, except as required by law.

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Perk.com Inc. Announces Partnership with Celltick to Power Rewards Across its Millions of Installations Globally

Company is Exhibiting at 2016 GSMA Mobile World Congress in Barcelona

Austin, Texas & Barcelona, Spain, February 25, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or the “Company”), a leading cloud-based mobile rewards platform provider, today announced it has entered into a partnership with Celltick, a global leader in mobile marketing.

Perk will partner with Celltick as the firm’s global rewards provider for their Start app, a customizable Android interface that helps device manufacturers, mobile operators and media companies to engage with their users, gain new insights and differentiate themselves while providing higher value to their users. Perk Rewards will become available through the Start app first in the United States and India, and expand into other regions over time.

Adam Salamon, Chief Operating Officer of Perk, stated: “Celltick is a pioneer in the mobile marketing space and through our collaboration we will be able to further expand our market-leading mobile rewards program to a larger, global audience. In return, by offering rewards Celltick will be able to provide more value for their customers and increase user retention.”

Ramgopal Vidyanand, Vice-President of Marketing & Business Development of Celltick, stated: “We are excited to be partnering with Perk to utilize a robust platform for users to engage with and earn real world rewards. Start provides users with what matters most to them when they wake up their phone – calling, messaging, photos, apps, news, and more. Perk will help our customers to provide their users with even higher value and loyalty.”

Celltick and Perk.com are both exhibiting this week in Barcelona at the Mobile World Congress 2016. For additional details on the conference, please visit App Planet.

About Celltick

Celltick is a global leader in mobile marketing. Celltick’s Start is a next generation personalized intelligent interface for Android devices. Over a million new devices are sold with Start as its interface. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S.  For more information, visit www.celltick.com.

About Perk

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates 15 mobile applications that allow members to earn rewards such as Perk Points and digital goods. Perk also operates numerous websites as well as AppTrailers, a leading  mobile video rewards app. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Platform, Appsaholic which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites. The Perk Platform was further expanded through the acquisitions of SuperRewards, a rewards and alternative payments platform for publishers and developers as well as Corona Labs, an app development platform that allows developers to develop apps for both iOS & Android.

Additional information about Perk can be found at its corporate website: ir.perk.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements, including with respect to Perk’s business: the anticipated benefits of the Acquisition; the anticipated effect of the Acquisition on Perk’s strategy, operations and financial performance; user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners before and following the Acquisition; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Appsaholic SDK; and Perk’s ability to successfully enter new business areas and geographic markets, including integration of the acquired business from Viggle; success of new products developed by Perk and Perk’s ability to retain key members of its management team. We do not undertake to update any forward-looking statement, except as required by law.

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Perk.com Inc. Announces Re-Launch of Viggle App

Austin, Texas, February 18, 2016 – Perk.com Inc. (TSX: PER) (“Perk” or the “Company”), a leading cloud-based mobile rewards platform provider, today announced the release of version 3.0 for the Viggle App, a mobile and tablet application that uses incentives to make content consumption and discovery more rewarding for media companies, brands and consumers.

With Viggle App 3.0, Viggle users will now earn Perk Points and receive greater value toward rewards. Viggle App 3.0 users will have access to Perk’s Reward Platform, which includes users being able to convert their Perk Points into real money with Perk Plastik, a prepaid debit card that runs via the Discover Network. The Company completed the acquisition of the Viggle App and its related assets on February 8, 2016.

Ted Hastings, Chief Executive Officer of Perk, stated: “We continuously strive to improve the apps we offer to our users and in less than ten days, we have successfully re-platformed the Viggle App so users can begin earning Perk Points and receive higher value toward their rewards. When we acquired the Viggle App and assets, we also acquired a direct sales team to build our relationships with well-known brands across the Perk ecosystem. The brands that we partner with can now reach their targeted users not only when they are using the Viggle App to watch TV, but when they are using the broader Perk platform of apps to watch popular videos, shop, search the web, or play games. In addition, brands can now sponsor engagements with users across our 3rd party platform in Appsaholic, SuperRewards, and Corona Labs. We are thrilled at how quickly we have been able to integrate the Viggle App into our operations and to be able to pass on to our Viggle users the many benefits of Perk’s Points and Perk’s Reward Platform.”

About the Viggle App

The Viggle App is an award-winning cloud based advertising platform that works on mobile phones and tablets allowing users to earn rewards by watching TV and listening to music. After downloading and creating an account, consumers are able to play games along with TV shows, share comments through social media, answer trivia questions and discover more about the show. Users can also discover new music through the Viggle App.

Viggle App 3.0 is available for download via iTunes (for Apple devices) and the Google Play Store (for Android devices) by searching “Viggle 3.0.”

About Perk

As a leading mobile rewards platform, Perk brings together the interests of consumers, advertisers, and publishers by offering consumers rewards such as Perk Points and other digital goods. Perk Points can be redeemed for gift cards, cash, or loaded on to Perk Plastik, a re-loadable branded debit card. Perk works with brands and publishers to reach consumers through truly engaging and innovative formats using rewards as a way to achieve maximum engagement of their brands and products.

Perk currently owns and operates 15 mobile applications that allow members to earn rewards such as Perk Points and digital goods. Perk also operates numerous websites as well as AppTrailers, a leading mobile video rewards app. In addition to offering rewards to members through its own mobile applications and websites, Perk launched its Perk Platform, Appsaholic which allows mobile and desktop publishers to utilize rewards to engage and entice users through the publisher’s own applications and websites. The Perk Platform was further expanded through the acquisitions of SuperRewards, a rewards  and alternative payments platform for publishers and developers as well as Corona Labs, an app development platform that allows developers to develop apps for both iOS & Android.

Additional information about Perk can be found at its corporate website: ir.perk.com.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements, including with respect to Perk’s business: the anticipated benefits of the Acquisition; the anticipated effect of the Acquisition on Perk’s strategy, operations and financial performance; user and advertiser engagement; Perk’s ability to establish new marketing partnerships; Perk’s ability to expand into new markets; and Perk’s ability to acquire and integrate new businesses and technologies. Such forward-looking statements reflect Perk’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words “anticipate”, “believe”, “estimate”, “upcoming”, “plan”, “target”, “intend” and “expect” and similar expressions, as they relate to Perk or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to Perk and are subject to a number of risks, uncertainties, and other factors that could cause Perk’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements, including, but not limited to: maintenance by Perk of relationships with advertising network providers and partners before and following the Acquisition; successful development of the “Perk” brand; Perk’s ability to keep up with rapid technology developments in Perk’s markets; Perk’s ability to avoid defects in products and services delivered by Perk; Perk’s ability to attract app and website developers to its Appsaholic SDK; and Perk’s ability to successfully enter new business areas and geographic markets, including integration of the acquired business from Viggle; success of new products developed by Perk and Perk’s ability to retain key members of its management team. We do not undertake to update any forward-looking statement, except as required by law.

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