ZMDTF - Zoomd Technologies gains on 2Q21 preliminary results; expects strong revenue growth

Zoomd Technologies ([[ZMDTF]] +11.1%) has reported its 2Q21 preliminary results, with revenues expected to be $11.1M (96% Y/Y); marking the largest single quarter revenue generation in the company's history.The company attributed the strong revenue growth to growing existing accounts, onboarding of new clients in recent months and expansion into growth geographies such as Latin America and Asia. 2Q21 Adjusted EBITDA is estimated expected to be $1.3M compared with a $0.76M loss in 2Q20, while operating profit is likely to be $0.6M versus a $1.44M loss in prior year quarter.Ofer Eitan, Zoomd's CEO, stated, "The visibility into our organic growth in the upcoming months, combined with our integration of the Performance Revenues acquisition and current M&A discussions, lead us to maintain our 2021 revenue growth guidance of 30% to 40%."The company expects to release the 2Q21 financial results in August 2021.

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Zoomd Technologies gains on 2Q21 preliminary results; expects strong revenue growth