Increase in Clients Utilizing its Digital Marketing Technology Solutions Continues to Drive Revenue Growth

TAMPA, FL / ACCESSWIRE / April 4, 2023 / Specificity Inc. (OTCQB:SPTY) (the "Company"), a full-service digital marketing firm that delivers cutting-edge marketing solutions, today announced the Company's financial results for the fourth quarter and year ended ended December 31, 2022 and the filing of its Annual Report on Form 10-K on March 30, 2023.

Key Financial Highlights for 2022

• Revenue increased 53% to $1.1 million
• Gross profit increased 48% to $0.6 million
• Gross margin decreased slightly to 48.4%
• Adjusted EBITDA loss decreased 13% to $2.0 million

Key Business Highlights for 2022

• Made public listing debut on OTCQB
• Appointed Original Shark on Shark Tank Kevin Harrington to its Advisory Board
• Engaged ClearThink and Bear Creek Capital to lead expanded investor relations program
• Successfully raised $750,000 from a mix of existing and new shareholders, including friends, family and retail investors, and was highlighted with an additional $300,000 participation by Chief Revenue Officer and Director of Sales Kevin Frisbie
• Readied the launch of PickPocket, a revolutionary location-based device ID targeting tool. PickPocket exemplifies Specificity's mission to deliver the latest digital marketing technology to companies of all sizes making them nationally, regionally and locally competitive.

Management Commentary

Jason Wood, Chief Executive Officer of Specificity, commented, "We are very pleased with our full year results, having achieved the highest revenue in our company history. Our mission to deliver the latest digital marketing technology to companies of all sizes making them nationally, regionally and locally competitive is supported by our product development. Of note, our Adjusted EBITDA loss decreased by 13% to $2.0 million for the year, after deducting non-cash stock-based compensation. This demonstrates the scalability of our business model as we increase revenue."

Wood, concluded, "We are confident that we are successfully addressing the void left in the market due to the fallout from the iOS update, as 96% of users opting out of app tracking. With its pending launch, we believe PickPocket will compete on price and granular targeting against Big Tech and Social Media. Already just in the first few months of 2023, we are witnessing an acceleration in our business and look forward to sharing these early 2023 results with you by mid-May. We believe we have been able to lay the groundwork for even greater financial growth, commercialization of our digital marketing services and products, and an increase in shareholder value. We are looking forward to the coming year, and the future success it holds for us."

Financial Results for the Year Ended December 31, 2022:

• Revenue: For the twelve months ended December 31, 2022, revenue was $1.1 million, an increase of $0.4 million, or 53%, compared with $0.7 million for the twelve months ended December 31, 2021. The increase is primarily due to an increase in marketing campaigns and the revenue per client's marketing campaign.
• Gross Profit: For the twelve months ended December 31, 2022, gross profit was $0.6 million, an increase of $0.2 million, or 48%, compared with $0.4 million for the twelve months ended December 31, 2021. The resulting gross margin was 48.4%, compared with 50.3% for the twelve months ended December 31, 2021.
• Total Operating Expenses: For the twelve months ended December 30, 2022, total operating expenses were $4.8 million, an increase of $2.1 million, or 79%, compared with $2.7 million for the twelve months ended December 31, 2021. The increase in operating expenses was primarily due to non-cash stock-based compensation expense of $2.3 million.
• Operating Loss: For the twelve months ended December 31, 2022, operating loss was $4.3 million, an increase of $2.0 million, or 84%, compared with an operating loss of $2.3 million for the twelve months ended December 31, 2021.
• Adjusted EBITDA Loss: For the twelve months ended December 31, 2022, Adjusted EBITDA loss was $2.0 million, a decrease of $0.3 million, or 13%, compared with an Adjusted EBITDA loss of $2.3 million for the twelve months ended December 31, 2021, after deducting non-cash and one-time expenses.
• Net Loss: For the twelve months ended December 31, 2022, net loss was $4.3 million, or ($0.45) per share, compared with a net loss of $2.4 million, or ($0.30) per share, for the twelve months ended December 31, 2021.

About Specificity, Inc.

Specificity, based in Tampa, Florida, is a full-service digital marketing firm that delivers cutting-edge marketing solutions to business-to-business clients as well as business to consumer clients. Our core mission is to offer our clients the most advanced audience targeting capabilities out there. We believe that precision targeting is the key to building the most successful marketing campaigns possible. Specificity has developed tools that allow it to identify and market to people who are actively in the buying cycle. Specificity takes advantage of the real-time messaging opportunities digital marketing offers to give small and medium-sized businesses a fair chance at online traffic.

For further information about Specificity Inc. and the range of digital marketing solutions offered, visit https://www.specificityinc.com/. Specificity also has a growing online community across social media, including Facebook and LinkedIn. Specificity is a publicly traded company, ticker symbol #SPTY.

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. Many factors are difficult to predict accurately and are generally beyond the Specificity's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Although forward-looking statements contained in this presentation are based upon what management of Specificity Inc. believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Specificity Inc. undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

For more information, please contact:

ClearThink Investor Relations
nyc@clearthink.capital
Jason Wood, CEO
jason@specificityinc.com

SOURCE: Specificity Inc.