Deveron Reports Growth in Q4/2021

Toronto, Ontario – Deveron Corp. (TSX-V: FARM) (“Deveron” or the “Company”), a leading agriculture data company in North America, is pleased to announce Q4/2021 revenue growth of 497%, with revenue increasing to $4,491,103 in Q4/2021 from $752,432 in Q4/2020. Revenue for the full year grew 200% to $8,598,475 in 2021 from $2,869,453 in 2020.  The Company achieved strong organic growth, at 138% for Q4/2021 and 94% for 2021 overall. The remaining revenue growth was driven by Deveron’s five 2021 acquisitions, which contributed $2,753,285 in Q4/2021 and $3,961,148 over the full year.

“We believe that our significant revenue growth in 2021 is just the beginning.  Heading into 2022, we have made some strategic steps to leverage our 2021 results for even higher growth, increased data aggregation and improved profitability,” stated David MacMillan, Deveron’s President, and CEO.  “Our acquisitions are outperforming our expectations, contributing to our Adjusted EBITDA* growth.   We are winning a greater number of data collection contracts for fertility management and carbon services which, with continued vertical integration of analytical testing, should meaningfully impact margins.  With our growing, loyal customer base, comes the opportunity to sell value add analytical products on top of the core soil data to help increase yields and lower costs in an era of record high input prices and inflation.  All these wins are most importantly generating more data which we believe will help build a stronger, independent, and unbiased ecosystem that empowers our customers to be able to improve their farm outcomes.  Our continued investment into our product and engineering teams will help Deveron evolve our offerings from infield services to end-to-end data solutions, like our carbon platform.”

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