- The 2020 fiscal year included several significant advances in the distribution of ARHT Media’s technology, despite revenue losses caused by the global pandemic
- Revenue was $2.21 million compared to $3.28 million in 2019
- The company launched and implemented several products, including the HoloPod and Virtual Global Stage technology
- ARHT Media engages in the creation, transmission, and delivery of digital human hologram
- ARHT Media (ART) is down 7.14 per cent and is currently trading at $0.195 per share
Fiscal 2020 included several significant advances in the distribution of ARHT Media’s technology, despite revenue losses caused by the global pandemic.
ARHT Media, a global distributor of holographic and digital content, implemented its patented technology at events and digital experiences all over the world, including in Canada, China, Singapore, Germany and the United States.
Larry O’Reilly, CEO of ARHT Media, commented,
“The Covid-19 pandemic and its associated impact made 2020 a challenging year for ARHT Media limiting our ability to interact with clients which in turn delayed our sales cycle.”
“However, our impactful and best-in-class HoloPresence™ technology allowed us to generate repeat business from a number of high-profile clients as well as win new business from other Fortune 500 companies and global players,” he added.
ARHT Media launched the HoloPod™ last year, a self-contained interactive holographic display, and completed the first permanent installation in Toronto.
Other highlights include the launch of the company’s Virtual Global Stage and its implementation at several events, and several strategic agreements with major global clients.
“With this increase in demand, we have significant momentum heading into the second quarter of 2021 and I am confident the strides we made in the second half of 2020 and in the first quarter of this year have positioned ARHT Media for substantive growth in 2021 and beyond,” stated Mr. O’Reilly.
Revenue for the fiscal year 2020 was $2.21 million compared to $3.28 million in 2019. However, cash and cash equivalents increased by $273,000 compared to 2019 year-end.
ARHT Media engages in the creation, transmission, and delivery of digital human hologram.
ARHT Media (ART) is down 7.14 per cent and is trading at $0.195 per share as of 11:28 am ET.
