Adcore (ADCO) AI Stock Analysis

• Market Cap: $14.26M
• Dividend Yield: N/A
• Average Volume (3M): 14.88K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.59
• Revenue Growth: 6.16%
• EPS Growth: 79.00%
• Country: CA
• Employees: 54
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): >-0.01
• Shares Outstanding: 60,687,054
• 10 Day Avg. Volume: 18,687
• 30 Day Avg. Volume: 14,884
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.57
• Enterprise Value/Revenue: 0.35
• Enterprise Value/Gross Profit: 0.83
• Enterprise Value/Ebitda: 7.74
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 59 Neutral
• Price Target: ―

Adcore's overall score is driven by its solid revenue growth and cash reserves, which are offset by ongoing profitability challenges and negative valuation metrics. The positive momentum from recent earnings and strategic focus on AI-driven innovation provide growth opportunities but also highlight the need for sustainable profitability improvements.

Adcore Business Overview & Revenue Model

Company Description

Adcore (ADCO) is a digital advertising technology company that specializes in providing innovative and AI-powered solutions to help businesses optimize their online advertising campaigns. Operating within the digital marketing and advertising sector, Adcore's core products and services include campaign management platforms, automated bidding solutions, and analytics tools designed to enhance the efficiency and effectiveness of digital marketing efforts across various online channels.

How the Company Makes Money

Adcore makes money primarily through subscription fees for its software-as-a-service (SaaS) products, which are used by businesses and marketing agencies to manage and optimize their digital advertising campaigns. The company's revenue streams include recurring subscription fees from clients who use its platforms for campaign management and optimization, as well as potential revenue from consulting services related to digital marketing strategy. Partnerships with major advertising platforms like Google and Facebook also contribute to Adcore's earnings by providing additional channels for its solutions to be utilized within larger advertising ecosystems.

Adcore Financial Statement Overview

Summary

Adcore shows stable revenue growth and strong cash reserves but faces ongoing profitability challenges. Despite a robust equity position and low leverage, negative net income and low ROE indicate the need for strategic improvements.

Income Statement

Adcore's revenue growth has been relatively stable, with a slight increase of 2.5% from 2023 to 2024. However, the company has consistently reported negative net income over the past few years, indicating challenges in achieving profitability. Despite a gross profit margin of 41.7% as of 2024, the net profit margin remains negative at -2.3%, suggesting ongoing operational inefficiencies. The negative EBIT margin of -2.0% also reflects these challenges, despite a positive EBITDA margin of 2.8%, indicating some improvement in operational cash generation.

Balance Sheet

Adcore maintains a strong equity position with an equity ratio of 51.4% in 2024, indicating a solid financial foundation. The company has low leverage, with a debt-to-equity ratio of 0.07, suggesting limited financial risk from debt. However, the return on equity (ROE) is negative at -6.5% due to negative net income, affecting shareholder returns. The company's cash reserves are robust, providing a buffer against financial uncertainties.

Cash Flow

Adcore has demonstrated significant improvement in its cash flow management. The operating cash flow to net income ratio is 4.5, indicating strong cash generation relative to net income. The free cash flow has grown from a negative position in 2023 to a positive $1.45 million in 2024, marking a notable turnaround. However, the free cash flow to net income ratio is -2.68, as net income remains negative. Continued focus on enhancing profitability will be essential to sustain this positive cash flow trend.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	23.41M	23.70M	23.13M	19.69M	27.97M	17.00M
Gross Profit	9.82M	9.88M	9.44M	8.49M	8.45M	6.86M
EBITDA	1.05M	654.00K	360.00K	394.00K	846.00K	1.28M
Net Income	-184.00K	-541.00K	-944.00K	-2.23M	-277.00K	648.00K
Balance Sheet
Total Assets	13.37M	16.27M	14.43M	14.54M	17.28M	12.74M
Cash, Cash Equivalents and Short-Term Investments	6.61M	7.50M	6.11M	6.53M	11.06M	8.76M
Total Debt	554.00K	604.00K	0.00	188.00K	434.00K	393.00K
Total Liabilities	5.40M	7.91M	5.55M	4.81M	5.09M	5.85M
Stockholders Equity	7.97M	8.36M	8.87M	9.73M	12.20M	6.88M
Cash Flow
Free Cash Flow	1.31M	1.45M	-146.00K	-3.78M	-2.41M	4.91M
Operating Cash Flow	2.29M	2.43M	849.00K	-2.55M	-1.44M	5.52M
Investing Cash Flow	-978.00K	-983.00K	-995.00K	-1.21M	-931.00K	-682.00K
Financing Cash Flow	-97.00K	-61.00K	-282.00K	-853.00K	4.67M	211.00K

Adcore Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.24
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ADCO, the sentiment is Negative. The current price of 0.24 is below the 20-day moving average (MA) of 0.24, below the 50-day MA of 0.25, and below the 200-day MA of 0.27, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 43.26 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ADCO.

Adcore Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DCBO	68 Neutral	1.16B	40.85	61.75%	―	18.51%	32.49%
ADCO	59 Neutral	$14.26M	―	-2.29%	―	6.16%	79.00%
BB	57 Neutral	3.53B	-55.11	-11.03%	―	-8.84%	70.97%
LSPD	53 Neutral	2.27B	-2.61	-44.44%	―	18.75%	-386.84%
QNC	51 Neutral	316.09M	-40.10	―	―	―	-106.91%
EAGR	48 Neutral	33.19M	-6.41	―	―	-3.91%	-242.16%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Adcore Corporate Events

Adcore Inc. Announces Successful Director Elections and Key Approvals at Shareholders Meeting

Adcore Inc. announced the successful election of its five director nominees during its annual and special shareholders meeting in Toronto. The meeting also saw the approval of key business items, including the appointment of Ziv Haft as the company’s auditor, the amendment of the stock option plan, and the extension of stock option expiry dates for certain insiders. These decisions reflect Adcore’s strategic efforts to strengthen its governance and operational framework, potentially enhancing its market position and stakeholder confidence.

Spark’s Take on TSE:ADCO Stock

According to Spark, TipRanks’ AI Analyst, TSE:ADCO is a Neutral.

Adcore’s stock score reflects its stable yet challenged financial performance, with strong revenue growth and cash reserves offset by negative profitability. Positive momentum from recent earnings and strategic partnerships highlight potential growth opportunities, balancing technical and valuation concerns.

To see Spark’s full report on TSE:ADCO stock, click here.

Adcore Expands APAC Presence with Major Australian Retail Partnership

Adcore has been appointed as the lead digital marketing partner for Global Retail Brands, adding four prominent Australian brands—House, MyHouse, Robins Kitchen, and Baccarat—to its portfolio. This partnership underscores Adcore’s position as a key digital partner for retail brands in Australia, highlighting its capability to deliver results in a dynamic digital landscape and its commitment to driving growth and innovation for its clients.

Spark’s Take on TSE:ADCO Stock

According to Spark, TipRanks’ AI Analyst, TSE:ADCO is a Neutral.

Adcore’s overall score reflects its stable revenue growth and strategic focus on AI-driven innovation. However, ongoing profitability challenges and unfavorable technical and valuation metrics weigh on the stock’s attractiveness. The positive earnings call underscores potential growth opportunities, mitigating some risks.

To see Spark’s full report on TSE:ADCO stock, click here.

Adcore to Present at Planet MicroCap Showcase in Las Vegas

Adcore announced its participation in the Planet MicroCap Showcase in Las Vegas on April 23, 2025. This event provides Adcore an opportunity to present its innovative e-commerce advertising management and automation platform to potential investors and stakeholders, potentially enhancing its market visibility and industry positioning.

Spark’s Take on TSE:ADCO Stock

According to Spark, TipRanks’ AI Analyst, TSE:ADCO is a Neutral.

Adcore’s overall score reflects its mixed financial performance with stable revenue growth but ongoing profitability challenges. The positive earnings call indicates strategic focus and growth potential, especially in the APAC region. However, technical analysis suggests short-term pressure, and the negative valuation metrics highlight the need for sustainable profitability improvements.

To see Spark’s full report on TSE:ADCO stock, click here.

Adcore Reports Record-Breaking Financial Results for Q4 and Year-End 2024

Adcore Inc. reported record-breaking financial results for Q4 and the year-end 2024, with a 24% year-over-year revenue increase and the highest-ever quarterly gross profit of $3.9 million. The company achieved significant growth in adjusted EBITDA and cash flow from operating activities, positioning itself for a strong 2025. With $10.8 million in cash, Adcore plans to expand its international presence and enhance its marketing apps, driven by increasing demand for its solutions.

Adcore to Announce Q4 and Year-End 2024 Financial Results

Adcore Inc. announced it will release its fourth quarter and 2024 year-end financial results on March 26, 2025. The company will host a webcast and conference call to discuss these results, focusing on addressing questions about its performance. This announcement highlights Adcore’s commitment to transparency and provides stakeholders with insights into its financial health and strategic direction.

Adcore Renews Strategic Partnership with Microsoft Advertising for 2025

Adcore has renewed its strategic partnership with Microsoft Advertising for 2025, reaffirming its strong position in digital marketing. This renewal, alongside recent accolades from Microsoft, signals Adcore’s growth trajectory and innovation potential, offering new opportunities for advertisers and underscoring positive implications for stakeholders.

Adcore Australia Wins Best Large PPC Agency at APAC Awards 2025

Adcore Inc., a global leader in AI-powered marketing technology, announced that Adcore Australia has been named the Best Large PPC Agency at the 2025 APAC Search Awards. This recognition highlights the company’s strong performance in the competitive Asia-Pacific region and underscores its commitment to delivering results for its clients. The award is a testament to Adcore’s innovative approach and dedication to staying at the forefront of the digital marketing industry.

Adcore Australia Wins Best Large PPC Agency at 2025 APAC Search Awards

Adcore Australia has been recognized as the Best Large PPC Agency at the 2025 APAC Search Awards, reaffirming its position as a leader in digital marketing across the Asia Pacific region. This accolade highlights Adcore’s continued excellence in the search industry, showcasing its ability to meet the evolving needs of the market and its dedication to delivering exceptional results for its clients.