Vancouver, British Columbia--(Newsfile Corp. - May 26, 2021) - Tracesafe Inc., (CSE: TSF) ("TraceSafe") a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, announced today it will recognize $1.3 million USD in revenue for Q1. The company anticipates that Q1 financials will be filed on SEDAR before May 31.
First quarter 2021 financial highlights:
- Q1 revenue of $1.3 million USD, up 8.7x over company's first revenue-generating quarter (Q2 2020);
- Upcoming booked sales of $2.4 million to be recognized over the next few months. Booked sales and Q1 revenue now exceed 2020 full year revenue;
- Immediate additional revenue visibility of $2.1+ million;
- Current trends expected to continue into Q2 and throughout 2021 with sales pipeline deals.
First quarter 2021 business highlights:
- Two-year wearable technology agreement reached with Fred. Olsen Cruise Lines;
- Five-year technology agreement with top tier cruise line customer;
- TraceSafe was chosen by a Fortune 500 firm and global Tier 1 semiconductor manufacturer for wearable safety tech solution across global footprint of 60,000 workers;
- TraceSafe was named a preferred partner of Tritan Software, the cruise industry's number one provider of Health Information and Incident Management software platforms;
- TraceSafe launched a wearable-based time and attendance pilot program for the $2.1 billion USD market;
- TraceSafe was recognized by Singapore Deputy Prime Minister and Finance Minister Heng Swee Keat during the presentation of Singapore's national budget for the financial year April 2021 to March 2022;
- Product developments that led to the TraceSafe platform's ability to process over 15 million contacts per day.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low-power Bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government, and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
Emily Graham, CFO
+1 (604) 356-8111
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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