The following is a transcription of the above video, and The Market Online has edited it for clarity.
Visionstate Corp (TSXV:VIS), a company whose vision is to be the leading global provider of IoT solutions for facility management. Their flagship software WANDA is a powerful data-driven platform designed to streamline cleaning task management, and enhance overall operational efficiency. Joining me is Shannon Moore, President and John Putters, CEO and Director.
TMO: It’s been a bit since we last spoke and there has been quite a few accolades that have taken place. John, would you give the audience the high-level updates on the company?
Putters: Our performance over the last six months has probably reflected in the fact that our stock price is up 37%. Our revenues year over year are up significantly. Our expenses are down, which shows that we’re going in the right direction. We proved our product in Canada initially, and recently we got endorsements from large institutions like Queens University. This is where we’re leveraging that success now to focus on expanding our market in the U.S. We have a couple very large customers. Obviously that’s a huge market for us and we’re excited about tackling it. Shannon has devised a strategy for us to expand our market presence in the U.S. and we’re executing on it.
TMO: Let’s dive a little deeper on the expansion in its deployments, particularly in that educational institution area. What is the intention of the company with this expansion?
Putters: In Canada actually we are focused a lot on educational institutions. Clearly our software could work for any facility. We’re in hospitals, airports, shopping centers, very diverse locations. We’ve found that particularly at the heels of COVID and the ongoing issues with disease prevention, that the universities and post-secondary educational institutions have really adopted this to give a safer, more comfortable feeling.
Not only for the students but the parents that they’re sending their students to that particular institution. This is why it’s getting really good uptake in that market and it’s starting to become the standard. I mean, the fact is that this part of facility management has been antiquated. Many people think about the piece of paper and the restroom with the signature. We’ve blown that away into a full-fledged application that actually drives data and analytics. That’s why we’re being successful and so those are among the target markets that we’re going after in the U.S. as well.
TMO: Tell us the update on the Wanda product and the plans for how that will streamline task management and operational efficiency.
Putters: So probably the biggest thing we’re doing right now is introducing AI to our platform. We’ve got enough experience in this space now to understand the big pain points that facility managers typically face. That tends to be in scheduling their people and rooting them through large facilities like universities where it’s very expansive. We’re applying AI on that to optimize that process and in fact be able to create schedules and routes based on intelligent information that’s being derived out of the AI.
Secondly, we found that typically it’s task management that we track. We’re expanding more into the inspections and auditing side of things, which is a very standard thing that a lot of these facility managers do to prove in fact that they’ve done the work that they’ve set. We’re constantly innovating here at Visionstate and we’re really excited about our AI project. We’re working with one of the preeminent institutes in the world, which is Alberta Machine Intelligence Institute. We’re innovative and we’re maintaining that leap.
TMO: Let’s flip over to the upcoming annual ISSA cleaning show held in Las Vegas from November 19th to 21st. Shannon, tell us more about this. What does Visionstate’s presence at this show represent for the company?
Moore: It’s such an exciting time for us. Visionstate has been around for quite some time. We have a strong presence in Canada but we haven’t really had a face-to-face interaction with customers in the US. We do have some really amazing customers in the U.S. Actually being down there and meeting more people face-to-face, partnerships, I think, is definitely one of the biggest shows that you can attend. We’re really excited to break out actually as a really emerging company in the US.
TMO: So is that your goal for Visionstate with the show or what would the goal be?
Moore: I’d say a three-pronged approach. We’re certainly looking for new distributors, new partnerships, a territory that we haven’t been in face-to-face, just on Zoom. So you’ve got that really exciting part of it. We’ve also got all this new development that John talked about that we really want to show off. There is no better environment, there is no more condensed audience for us than the ISSA to put a face to our company for so many great opportunities. We’re also looking for new customers, new areas that we haven’t been in, people who have use cases that we haven’t explored yet and it’s such a great environment to do that.
TMO: So where can anyone go into the show find you?
Moore: There’s a really interesting corner of the show that is kind of geared towards innovation. You’re going to find a lot of your innovative companies there and we are very lucky to have a little corner of that area. We’re Booth 559, if anyone’s actually specifically looking for us, that is definitely the place to find us.
TMO: Now, John, what is the outlook for Visionstate for the rest of 2024 and into 2025? What opportunities do you foresee domestically and internationally, especially after being at the show?
Putters: Great question. So we see a lot more expansion in Canada within the sector of post-secondary education for sure. We’ve demonstrated that I think we’re in five large universities but there’s many others. The companies that we tend to work with have portfolios of these institutions. We’re working with one of the largest ones already. So, we’re planning out our deployment to other large universities across Canada. In terms of the U.S. we work with Blackstone Real Estate. They love our product. They were early adopters. They’re the largest private equity real estate company in the world. We want to leverage that success to get more customers in the U.S.. What we’re looking at possibly, is opening a presence in the US, Seattle or Las Vegas. So we have a more physical location. It’s really at this point we’re talking about growth and we’re a software as a service model for our revenue. So every customer counts and we’re counting them going up at this point, which is fabulous.
TMO: Shannon, maybe you can finish us off here, is there anything else that you want investors to know about Visionstate?
Moore: What I would tell people is this is probably the most exciting time for our company. Not only is the development on our software in a high growth period, we have inspection pieces coming. It’s becoming more and more robust. You’ve got this amazing growth happening with Amii, with our new software. You’ve also got this huge leap into the U.S. where we’re going to be there and get to shake people’s hands and be face to face. I’ve never been more excited to be with a company than we are right now with everything coming together. So, I just invite anyone to watch our story and follow the success.
You can find Visionstate Corp on the Venture Exchange under the ticker symbol VIS. You can also visit them at this years ISSA show, at booth 559. To learn more about their company, head to visionstate.com. Watch the video below to learn about on Wanda.
Company shares were last trading at $0.03
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