- TraceSafe (TSF) reports US$5.96 million in revenue for Q3, 2021
- Nine-month gross revenue ending September 30, 2021 was $10.65 million, with a gross profit of $3.06 million
- Revenue for FY21 revenue is expected to be 3.7x higher than FY20
- TraceSafe is a full suite of real-time location management services and contact tracing solutions
- TraceSafe Inc. (TSF) opened trading at C$0.47 per share
TraceSafe (TSF) is reporting record-breaking revenue of US$5.96 million for Q3, 2021.
“We witnessed phenomenal growth this year. Along with becoming profitable in the third quarter, we recorded our highest revenue since inception,” said Wayne Lloyd, TraceSafe CEO.
“We made a strong impact with products that empower businesses and respond to the evolving needs of our customers. These results, fuelled by new verticals and repeat business from multiple clients, cement our position as one of the most innovative providers of IoT based solutions.
“Our goal is to empower organizations with insights captured from data across the environment and their operations,” continued Wayne. “Customers are increasingly looking to run their businesses in ways that are both profitable and sustainable. We believe that we can help organizations of all sizes and geographies achieve this goal through an end-to-end technology platform for a more sustainable future.”
Third quarter 2021 financial highlights:
- Record-breaking Q3 revenue of US$5.96 million, up 5.5x over the same quarter last year (Q3 2020), with gross profit of $2.5 million (42 per cent gross margin)
- Nine-month gross revenue ending September 30, 2021 was $10.65 million, with a gross profit of $3.06 million (29 per cent gross margin)
- Diluted Earnings per share was $0.03 versus a loss per share of ($0.02) for the similar period last year (Q3 2020)
- Revenue for FY21 revenue is expected to be 3.7x higher than FY20
Third quarter 2021 business highlights:
- Implemented on-premise platform with innovative failover clusters across nine client servers
- Expanded operations in the APAC region with the opening of a TraceSafe location in Tokyo
- Sold over one million IoT devices
- Developed custom wearable devices and bands, which are equipped with long-lasting batteries and RFID modules
- Provided the technology for contact tracing and quarantine solutions at the Women’s World Hockey Championship in Calgary, Alberta
- Obtained DTC eligibility
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 Inc. (TSF) opened trading at C$0.47 per share.