INTOUCH INSIGHT LTD. ANNOUNCES 25% REVENUE GROWTH FOR 2021 AND EXPECTS 40% GROWTH FOR 2022

OTTAWA (ON), March 31, 2022 /CNW/ – Intouch Insight Ltd(“Intouch” or “the Company”) (TSXV: INX) (OTCQX: INXSF) a leader in customer experience measurement solutionstoday announced its operating and financial results for the year ended December 31, 2021.

Revenue for 2021 was $16,016,56425% higher than the turnover of $12,795,277 in 2020 due to the continued recovery from the COVID-19 pandemic, new business and the acquisition of SeeLevel HX in the fourth quarter of 2021. Profit from operating activities was $26,290 in 2021 against a loss of operating activities of $56,088 the previous year as incomes increased. The net loss for the year was $315,413 compared to $6,898 in 2020, thanks to the increase in the value of contingent liabilities related to the acquisition of SeeLevel while the revenue outlook for 2022 has improved. Company-defined Adjusted EBITDA was $1,668,401 for 2021, compared to $1,667,894 in 2020. Gross margin increased to 53.9% in 2021 from 52.7% the previous year, due to the change in sales mix.

“We are pleased with the company’s renewed trajectory, both in terms of revenue and technology capabilities and overall financial health. In 2022, we expect 40% growth and the delivery of more than $22.5 million in revenue thanks to the recent acquisition, securing new projects with existing customers, increasing the sales pipeline and continuing to grow SaaS revenues”, noted Cameron WattPresident and Chief Executive Officer of the Company.

“The company continues to illustrate its health and stability. October 2021, we completed the acquisition of SeeLevel using available cash, our operating line of credit and future contingent payments. In 2022, we expect to increase EBITDA again. We will continue to leverage our strengths and invest where appropriate to accelerate growth, including technology and potential accretive acquisitions,” said Watt.

Consolidated Statements of Income







2021



2020









Income



$

16,016,564



$

12,795,277

Cost of benefits

7,376,133



6,054,518









Gross margin



8,640,431



6,740,759









Total operating expenses

8,614,141



6,796,847









Profit (loss) from operating activities

26,290



(56,088)

Other income (expenses)

(302,834)



44,578

Income tax recovery (expense)

(38,869)



4,612

Net loss



$

(315,413)



$

(6,898)

About Intouch Insight
Intouch Insight offers a comprehensive portfolio of customer experience management (CEM) products and services that help global brands delight customers, build reputation and improve financial performance. Intouch helps customers collect and centralize data from multiple customer touchpoints, empowers them with real-time actionable insights, and equips them with the tools to continuously improve the customer experience. Founded in 1992, Intouch is trusted by over 300 North America the most popular brands for their solutions for customer experience management, customer surveys, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and automation of the event marketing. For more information, visit intouchinsight.com.

Certain statements included in this press release contain forward-looking statements made as of the date hereof, which by their nature are necessarily subject to risks and uncertainties and other factors that could cause actual results actual results, performance or achievements of the Company are materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These statements reflect the current views of the Company regarding future events, including the acquisition, future revenues and references to the expansion and growth of the Company’s business and operations, and are based on the information currently available to the Company and assumptions it considers to be reasonable; however, management cautions readers that assumptions regarding future events beyond management’s control may prove to be incorrect, as they are subject to certain risks and uncertainties. Please refer to the risks set out in the Company’s most recent annual MD&A and in the Company’s continuous disclosure documents which can be viewed on SEDAR at www.sedar.com. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Intouch Insight Ltd.

For further information: Cathy Smith, Chief Financial Officer, [email protected]613-270-7916