EYEFi reports 49% increase in South Africa
TORONTO, ON / ACCESSWIRE / March 10, 2022 / EYEfi Group Technologies Inc. (CSE: EGTI) (OTC PINK: EGTTF) (“EYEfi”) is pleased to report that it achieved a 49% increase in revenue in H2 2021 compared to H2 2020 in its preliminary unaudited financial results. This follows a strong period of new and recurring business growth under the Software as a Service (SaaS) model of EYEfi and EYEfi SPARC.
Major camera manufacturer
EYEfi is also pleased to inform the market of EYEfi’s cloud web application development, which, under a strategic agreement with a major global camera manufacturer, is on track for a first release. (beta) next quarter. The mobile-friendly web application is powered by EYEfi Cloud, will enable end customers to activate, monitor and control their cameras over the internet, easily and seamlessly. EYEfi will have access to an extensive network of distributors and resellers with the potential to onboard and connect hundreds of thousands of camera installations under a SaaS model. Although commercial pricing has yet to be released, EYEfi predicts considerable revenue growth expected from EYEfi Cloud over the next 12 months in Australia and New Zealand and expects exponential sales growth globally once the product is launched in the United States and other major regions of the world. world.
Melbourne Water Company
EYEfi is pleased to announce that it has just received a new order from Melbourne Water Corporation (MWC) for additional installations of its SPARC technology in fixed locations, as EYEfi reports another successful deployment of the technology and the expanding use of SPARC at MWC. EYEfi recently announced the first upcoming deployment of its SpatialEye mobile technology at MWC, which allows MWC personnel to locate bushfires, simply by pointing at it with their smartphone. Melbourne Water is a statutory authority responsible for managing some of Australia’s largest and most critical water catchments, forests and associated assets, covering over 160,000 hectares.
New Shortlisted Tender
EYEfi, in partnership with Telstra Corporation Limited (a telecommunications company with a market capitalization of $34 billion) has additionally been shortlisted in a new multi-million dollar tender to supply EYEfi SPARC to the commercial forest management industry and is confident of a positive outcome in the coming weeks. . EYEfi SPARC is not only suitable for bushfire management and asset protection, but can also be used in a wide range of risk management applications. EYEfi is currently in discussions with major agricultural companies in the United States, involving the use of EYEfi SPARC to protect high value crops such as vineyards, in high fire risk areas.
EYEfi is rolling out its Automated Incident Management (AIM) technology in a Phase 1 deployment for DMRoads, Australia’s largest road maintenance provider, which manages over 33,110km of roads across the Australia, under 17 different contracts – representing half of all managed road networks in the country. EYEfi Cloud and AIM will be used in the same way they are currently used with the Department of Transportation and VicRoads, providing live video, GPS tracking and automated incident workflow from incident management vehicles on the road network.
EYEfi CEO Simon Langdon said: “We are very pleased with the revenue growth over the past 12 months as we continue to develop our products and business. We are confident in our sales pipeline and are pleased with the adoption of our technology among key government, infrastructure and commercial customers.”
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About EYEfi in detail:
EYEfi connects the world’s people and devices with the world around them, in real time and in ways that weren’t possible before.
EYEfi is a software and electronics engineering company that has developed, patented and commercialized innovative space technology; Spatial, Predictive, Approximation and Radial Convolution (SPARC) and an associated product suite, which transforms sensors, cameras and smartphones (fixed, mobile, airborne, wearable or wearable) into geo-target coordinate acquisition devices.
EYEfi has also developed the IIoT sensor hardware and associated cloud software, as the second pillar of its product offering. EYEfi Cloud is a next-generation cloud platform that provides a secure and centralized environment where customers can manage their EYEfi product deployments and applications.
On behalf of the Board of Directors of
EYEFI GROUP TECHNOLOGIES INC.
Simon Langdon, CEO
For more information contact:
Chief Executive Officer
EYEfi Group Technologies Inc.
E-mail: [email protected]
Marc van der Horst
EYEfi Group Technologies Inc.
Telephone: +1 (604) 760 7604
E-mail: [email protected]
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This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information.
Forward-looking statements are based on management’s reasonable assumptions, estimates, opinions and analyzes made in light of its experience and perception of historical trends in the provision of services through its Cloud, current conditions, expected future developments and other factors. EYEfi believes that they are appropriate, relevant and reasonable in the circumstances on the date on which these statements are made. All such assumptions, estimates and opinions will necessarily be subject to change due to future events and other circumstances beyond EYEfi’s control, including the effect of the Covid 19 virus. EYEfi has based the forward-looking information on various assumptions including: despite the threat of the Covid 19 virus, EYEfi will maintain or increase its profitability, albeit on a slower than expected projection, and will be able to finance its operations with existing capital and projected revenues from its current agreements with its distribution partners; EYEfi will be able to attract and retain key personnel in the future if needed; the general business, economic, financial, regulatory and political conditions under which EYEfi operates will remain positive as its services can be provided in the EYEfi Cloud, although the delivery of its hardware may be affected by supply chain disruptions ; that the general regulatory environment will not change in a manner adverse to EYEfi’s business; the tax treatment of EYEfi and its subsidiary will remain constant and EYEfi will not be subject to any significant legal proceedings; the economy in general; competition and anticipated and unanticipated costs.
Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this press release. Readers are cautioned that the foregoing list of factors, assumptions and exclusions is not exhaustive.
The forward-looking statements and information contained in this press release are made as of the date hereof, and no obligation is given to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws or the Canadian Stock Exchange. Forward-looking statements or information contained in this press release are expressly qualified by this cautionary statement.
THE SOURCE: EYEfi Group Technologies Inc.
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