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Adcore Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Q3 2025 saw strong EMEA revenue growth (up 25% year-over-year) and APAC growth (up 7%), offsetting significant North American softness (down 50% year-over-year).
Operational expenses declined, with R&D down 10% and SG&A down 12% year-over-year.
Adjusted EBITDA improved 56% year-to-date, with six consecutive quarters of positive results.
Focus on recurring revenue, operational efficiency, and product innovation, including advancements in Proposaly.io and a new marketing website.
The company remains optimistic for Q4, historically its strongest quarter.
Financial highlights
Q3 2025 revenue was CAD $7.6 million, down 2% from Q3 2024.
Gross profit was CAD $3.1 million, down from $3.7 million year-over-year; gross margin for Q3 2025 was 40%, compared to 47% in Q3 2024.
Adjusted EBITDA for the nine months ended September 30, 2025, was nearly CAD $500,000, up 56% year-over-year.
Net loss for Q3 2025 was CAD $448,000, up from $172,000 in Q3 2024; net loss for nine months reduced to CAD $1.075 million from $1.262 million year-over-year.
Cash and cash equivalents as of September 30, 2025, were CAD $7.26 million, up 8% year-over-year.
Outlook and guidance
Management expects Q4 2025 to be the strongest quarter, maintaining a positive trend.
Proposaly is expected to begin monetization in early 2026, with ambitions to match or exceed MediaBlast's first-year ARR.
Targeting 25% annual revenue growth to reach $40 million and $4M–$5M ARR from SaaS applications.
Priorities for 2026 include driving growth in core markets, accelerating commercialization of Proposaly, and deepening client relationships.
No plans for further geographic expansion in 2026; focus remains on current markets and technology pipeline.
North America revenue decline: Q4 recovery plan?
Proposaly: 2026 monetization strategy & ARR target?
AI's impact on ad strategies: opportunities vs risks?
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Next Adcore earnings date
Q4 202525 Mar, 2026
Adcore
Next Adcore earnings date
Q4 202525 Mar, 2026
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Frequently asked questions
Adcore Inc. is a technology company specializing in digital advertising solutions and marketing technologies. The company provides a range of software-as-a-service (SaaS) tools designed to help businesses optimize their online advertising campaigns across platforms like Google, Facebook, and other digital channels. Adcore's platform focuses on automating and enhancing the performance of pay-per-click (PPC) campaigns, enabling advertisers to efficiently manage their marketing efforts and maximize their return on investment. The company's services cater to a global clientele, including agencies, e-commerce businesses, and enterprises looking to enhance their digital marketing strategies. The company is headquartered in Toronto, Ontario, and its shares are listed on the TSX.
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