Adcore (ADCO) AI Stock Analysis

• Market Cap: C$10.02M
• Dividend Yield: N/A
• Average Volume (3M): 24.58K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.70
• Revenue Growth: 7.41%
• EPS Growth: 55.10%
• Country: CA
• Employees: 54
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): >-0.01
• Shares Outstanding: 60,727,055
• 10 Day Avg. Volume: 20,975
• 30 Day Avg. Volume: 24,580
• PEG Ratio: 0.31
• Price to Book (P/B): 0.88
• Price to Sales (P/S): 0.31
• P/FCF Ratio: 5.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: C$0.14 ▲(2.14% Upside)

The score is primarily held back by weak financial performance (sharp TTM revenue decline, ongoing losses, and a large drop in free cash flow) and bearish technicals (price below major moving averages with negative MACD). Low leverage and positive operating cash flow provide partial support, but valuation is difficult to anchor due to negative earnings and no dividend yield data.

Adcore Business Overview & Revenue Model

Company Description

Adcore Inc. operates as an e-commerce advertising management and automation platform in the Asia-Pacific, Europe, the Middle East, Africa, and North America. The company offers smart algorithm powered automation tools for digital advertisers to enhance return on advertising investments, and scale their digital campaigns. Its product portfolio includes Feeditor that offers online shopping automation capabilities to advertisers; Views, a search engine marketing (SEM) solution used for campaign creation, intelligent bid management, SEM optimization, and reports; SEMDOC, an account auditing tool, which measures and analyzes 52 metrics; Effortless Marketing, a marketing solution for campaign creation and performance tracking; and Amphy, a 24/7 live online learning marketplace. The company serves enterprise companies, and small- and medium-sized businesses. Adcore Inc. was founded in 2005 and is headquartered in Tel Aviv, Israel.

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: Neutral
• Last Price: 0.14
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• 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 Neutral. The current price of 0.14 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.18, and below the 200-day MA of 0.24, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.76 is Neutral, neither overbought nor oversold. The STOCH value of 75.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ADCO.

Adcore Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
WISH	48 Neutral	C$7.14M	-3.25	-27.39%	―	-31.03%	-67.36%
ADCO	47 Neutral	C$10.02M	-18.18	-4.97%	―	7.41%	55.10%
MBO	46 Neutral	C$3.39M	-0.96	―	―	155678.40%	-1772.63%
VSBY	41 Neutral	C$4.43M	-0.39	―	―	―	―
NTAR	41 Neutral	C$36.57M	-7.40	―	―	-59.22%	83.08%

Adcore Corporate Events

Adcore Wins Selfie Leslie Mandate to Drive AI-Led Performance Marketing

Adcore has been appointed by boutique women’s apparel brand Selfie Leslie to lead its performance marketing strategy, including media mix modeling, using Adcore’s AI-driven Marketing Cloud and Feeditor App. The mandate positions Adcore to deepen its role in fashion e-commerce marketing by managing campaigns across Selfie Leslie’s extensive product feed to boost engagement, brand awareness and measurable performance, underscoring the company’s push to showcase its data analytics capabilities and advanced e-commerce technologies for growth-focused retail clients.

The most recent analyst rating on (TSE:ADCO) stock is a Hold with a C$0.14 price target. To see the full list of analyst forecasts on Adcore stock, see the TSE:ADCO Stock Forecast page.

Adcore Reports Third Quarter 2025 Results Amidst Global Expansion

Adcore Inc. reported its third-quarter 2025 financial results, highlighting a period of transition with a 2% decrease in revenue compared to the previous year. Despite this, the company experienced growth in its EMEA and APAC markets, with EMEA revenue increasing by 25% and APAC revenue by 7% in the quarter. The company also achieved a 56% increase in Adjusted EBITDA year-to-date, driven by a disciplined cost structure and efficiency gains. Adcore strengthened its balance sheet, growing cash and cash equivalents by 8%, and made significant product advancements, particularly with Proposaly.io. These efforts are aimed at setting a foundation for scalable growth as the company focuses on core markets and client relationships moving into 2026.

Adcore to Announce Q3 2025 Financial Results on November 13

Adcore Inc. announced it will release its third quarter 2025 financial results on November 13, 2025, before the market opens. The company will host a webcast and conference call the same day to discuss the results, allowing stakeholders to gain insights into its financial performance and strategic direction. This announcement is significant for investors and partners as it provides an opportunity to assess Adcore’s market position and operational effectiveness.

Adcore Partners with HockeyStickMan to Boost E-commerce Growth

Adcore has been appointed by HockeyStickMan, a prominent online retailer of hockey equipment, to lead their digital marketing efforts. By utilizing its advanced AI-powered platform, Adcore aims to enhance HockeyStickMan’s online strategy and engagement, thereby improving visibility and performance across digital channels. This partnership signifies a strategic move for HockeyStickMan to elevate its brand presence and accelerate growth, leveraging Adcore’s expertise in digital marketing and e-commerce technologies.