News and Announcements
Aeeris Revenue Growth Continues, New Customers On-Boarded, Strong R&D Investment into New Technologies
- Published April 26, 2016 10:12AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
14th April 2016
Financial Highlights
- Total cash receipts of $496,822
- Cash receipts received from customers of $483,390, up 28.2% compared with the previous quarter of $377,047
- Net decrease in cash held (cash burn) of $411,285
- Expenses higher in the quarter with a big investment in R&D to build new products which are expected to open new markets and generate new revenues. No R&D Tax Rebate received during this quarter.
- Cash position at end of quarter (31st March 2016) of $2.16 million (unaudited)
Business Highlights
- Company continues strong quarter-to-quarter growth in business customer revenues
- Addition of experienced and talented new executives in sales, project management and new customer solutions implementation
- Rationalisation of some costs, while continuing strong investment in R&D
- Safe@Work product has evolved into a broader product offering in response to customer demand – an integrated staff and contractor tracking and monitoring system for major employers, known as Security Access Management System (SAMs)
- Movement away from consumer (B2C) services to focus on enterprise clients (B2B)
- Discontinuing residential alerting services to Brisbane City Council (BCC) from July 2016, expected to result in productive redeployment of internal resources to potential large business and government customers with better economics
- Company’s clear future direction lies in demand-driven, highly scalable annuity revenue streams derived from deploying geospatial data systems to large organisations.
- Aeeris is rapidly evolving into an enterprise-level geospatial data company, and is less focused on marketing consumer weather-centric apps and services.
To download the full announcement, please click on the link below.
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