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CALGARY, Alberta, Aug. 30, 2022 (GLOBE NEWSWIRE) — ApartmentLove Inc. (CSE: APLV) (“Apartment Love” or the “company”), a leading provider of online marketing services for homes, apartments and vacation rentals for owners, renters and vacationers in 30 countries worldwide, is pleased to announce that it has signed a new license agreement of rental listings (the “listings agreement”) with one of the largest listing aggregators in the United States. Pursuant to the Listings Agreement, the Company will earn a fee for each qualifying Rental Contact delivered to the Channel Partner through ApartmentLove.com. After integrating their respective systems and conducting extensive cargo volume testing, management anticipates that the listing agreement fees will provide significant cash flow to the Company beginning in the fourth quarter of 2022 as traffic of the website in favor of ApartmentLove.com is growing rapidly and the volumes of generated leads sent to the channel partner are setting new records every successive month.
“A milestone in our history of organic growth and testament to the tireless work of our sales, marketing, SEO and engineering teams; we are delighted to have executed this new listing agreement as we now formally fire up our engines of sales,” exclaimed Trevor Davidson, President and CEO of ApartmentLove. Mr. Davidson added, “Rental markets are very active today, and many would-be landlords are opting for the freedoms and flexibilities afforded to renters. Our research suggests that more than 100 million people are looking for rental properties in the U.S. every month and yet the market is deeply fragmented and ripe for consolidation Website traffic to ApartmentLove.com has increased by 337% over the past 6 months and if current growth trends continue, we anticipate over one million unique visitors to ApartmentLove.com the fourth quarter of this year.”
On the strength of the Listing Agreement and rapidly accelerating user traffic mentioned above, and based on a comprehensive predictive model that uses historical revenue per user, cost of goods sold, capital expenditure in the optimization of search engines and website traffic a Apartmentlove.com over the past 24 months, management anticipates that the company could achieve estimated organic gross revenue of approximately $5,000,000 and gross profit of $3,700,000, representing an operating margin of 74%, by the end of 2023 , which is in addition to the company’s previously announced projections. EBITDA from its vacation rental program, as well as EBITDA generated by its continued growth through its acquisition program.
In parallel with the search for the Company’s organic growth model, as evidenced by the signing of the Listing Agreement and the acquisition OwnerDirect.com in July of this year, for 2x Adjusted EBITDA, ApartmentLove is in final discussions to acquire several other rental marketing platforms in the vacation rental space and the conventional long-term leasing space in both Canada as in the United States.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) is a leading provider of online rental marketing services for owners, renters and vacationers in more than 30 countries worldwide. Having demonstrated its ability to scale as a fast-growing “PropTech” in today’s complex and dynamic market environments, ApartmentLove is fueling its growth through an acquisition program: buying complementary companies that have many active users monthly payments, a history of recurring revenue, positive cash flow, and custom technologies that speed up and ease the rental experience, while supporting your custom SEO and other marketing strategies and organic growth in the United States. ApartmentLove is a publicly traded company listed on the Canadian Stock Exchange (CSE: APLV).
For more information visit or contact:
Trevor Davidson President and CEO ApartmentLove Inc.[email protected] (647) 272-9702
Advice to the reader
Certain information set forth in this press release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, some of which are beyond the company’s control. Forward-looking statements are often characterized by words such as “plan”, “continue”, “expect”, “project”, “attempt”, “believe”, “anticipate”, “estimate”, “could”, “will”. , “potential,” “proposed,” and other similar words, or statements that certain events or conditions “may” or “will occur.” These statements are predictions only. Readers are cautioned that the assumptions used in the preparation of this information, although believed to be reasonable at the time of preparation, may turn out to be inaccurate and, as such, undue reliance should not be placed on any forward-looking statements type Forward-looking statements include, but are not limited to, the anticipated benefits of the Listing Agreement and the Company’s ability to achieve the benefits of the Listing Agreement; the expected number of unique visitors ApartmentLove.com; expected revenue per user; the estimated cost of goods sold; planned capital investment in search engine optimization; expected website traffic Apartmentlove.com; the Company’s search engine optimization resulting in first page search results in popular search engines in the geographic locations in which the Company operates; management’s estimated organic gross revenue and gross profit for the end of 2023; the Company continues to execute and realize the benefits of its organic growth mandate; the company realizing the benefits of its growth through acquisition mandate; the company’s ability to become cash flow positive; and the Company’s ability to successfully integrate and realize the benefits of the Listing Agreement and Vacation Rental Program. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The risk factors can be found in the Company’s continuous disclosure documents filed on SEDAR and accessible at www.sedar.com.
This press release contains “forward-looking financial information” and “financial outlook information (collectively, “FOFI“) on the Company’s estimated gross revenue and organic gross profit at the end of 2023. FOFI is provided by the Company’s management to demonstrate the expected potential sales of the Company’s products based on its acquisition and organic growth strategy and the reader is cautioned that such information may not be suitable for any other purpose and that the reader should not place undue reliance on FOFI. FOFI, as with forward-looking information generally, are based, without limitation, on assumptions and subject to the risks set forth above under the heading “Advisory to the Reader.” The Company’s actual results of operations and resulting financial results will likely differ from the amounts set forth in this press release and such variation may be material. company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments as of the date hereof; so also, because this information is subjective and subject to numerous risks, it should not necessarily be considered indicative of future results. The forward-looking information and FOFI contained in this press release speak only as of the date of the document, and neither the Company nor its subsidiaries undertake any obligation to publicly update or revise them to reflect new events or circumstances, except when required in accordance with applicable legislation. Actual results could also differ materially from those anticipated in these forward-looking statements and FOFI due to the risk factors set forth under the heading “Risks” in the Company’s Management’s Discussion and Analysis for the three and six months ended on June 30, 2022, dated August 11, 2022.
Earnings before depreciation and amortization of interest taxes (“EBITDA”) has no standardized meaning as prescribed by International Financial Reporting Standards (“IFRS“) as issued by the International Accounting Standards Board and therefore EBITDA is considered a “non-IFRS measure” and may not be comparable to similar measures presented by other issuers. ApartmentLove believes that the non-IFRS measure of EBITDA, combined with other IFRS measures, such as revenue and income (net loss), are useful measures for its shareholders, as management relies on these measures to provide information about future operations. However however, readers are cautioned that EBITDA should not be interpreted as an alternative to financial measures determined in accordance with IFRS as an indicator of the Company’s financial performance.
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Source: ApartmentLove Inc.
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