Conference call will be held on May 30, 2024 at 11AM ET VANCOUVER, BC, May 30, 2024 /PRNewswire/ -- Zoomd Technologies Ltd. (TSXV:ZOMD) (OTC:ZMDTF) and its wholly-owned subsidiary Zoomd Ltd. (collectively, "Zoomd" or the "Company"), the marketing technology (MarTech) user-acquisition and engagement platform, today reported its financial results for the three months ended March 31, 2024. The Company's financial statements and management discussion and analysis ("MD&A") are available on SEDAR+ under the Company's profile. Key Financial Highlights  Although the Company discontinued several operations that no longer aligned with the Company's vision, the Company succeeded in increasing revenues by 1% versus Q1.23 and 16% compared to the previous quarter. Last year strategic measures implemented by the Company's management team, led to Adjusted EBITDA[1] of $1.2M in Q1.24, a $1M increase versus Q1.23. Net income of $0.5M in Q1.24, after six consecutive quarters with a net loss. Ended Q1.24 with a cash balance of $2.3M and no long-term debt. Management Commentary Ido Almany, CEO of the Company stated, "In the first quarter of 2024, we continued to successfully navigate the challenging macroeconomic environment, making necessary adjustments to our day-to-day operations. The diligence of our management in thoroughly implementing the refocusing measures announced last year, allowed us to achieve these outstanding results. We grew revenue by 16% compared to Q4 of 2023 and reduced operating expenses by 31% quarter over quarter. By Q4.2023, after initiating our plan in June 2023, we transitioned from an operating loss to an operating profit. For this quarter, the operating profit increased by approximately 950% compared to the previous one, totaling $0.6M. Additionally, adjusted EBITDA grew by $1M quarter over quarter, reaching $1.2M. Moreover, we achieved a net income of $0.5M for the quarter, after six consecutive quarters of net loss. The strategic refocusing has not only improved Zoomd's financial standing but also facilitated better internal alignment of teams and goals. With the hard work and determination of our leadership team and their respective members, and the backing of our board of directors, we look forward to continuing to drive value for our customers and shareholders alike." Amit Bohensky, Chairman of Zoomd Technologies added "These impressive achievements are a testament to our team's relentless dedication and strategic vision. As we move forward, we remain committed to fostering innovation and excellence, ensuring sustainable growth and long-term value for our shareholders. Together, we will continue to seize new opportunities and solidify our position in the market." First Quarter 2024 Highlights (All Figures in Thousands in USD) Although the Company discontinued several operations that no longer aligned with the Company's vision, the Company succeeded in increasing revenues in ...