#Tech Sector
Snapshot: #Software Solutions Companies See Ongoing Growth Beyond 2019 (OTCQB: $ADGO)
(NASDAQ: $APPS) (TSXV: $OSS.V) (OTCQB: $OSSIF) (NASDAQ: $AEYE)
Point
Roberts WA, Delta BC – June 4, 2019 - Investorideas.com, a leading investor news resource
covering software solutions and technology stocks releases a sector snapshot
focusing on the recent rise in business solutions software and what is driving
this current trend.
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According to a new market research report ‘Fixed Asset
Management Software Market’ published
by MarketsandMarkets, “The global Fixed Asset Management Software Market size
is expected to grow from USD 3 billion in 2019 to USD 5.2 billion by 2024, at a
Compound Annual Growth Rate (CAGR) of 11.8% during the forecast period.”
“Preventive
maintenance and IoT technology to boost adoption of fixed asset management
software, and growing need to reduce operational cost and proliferate profits
through efficient management of assets are the major factors driving the growth
of the Fixed Asset Management Software Market,” the report continued.
Advantego Corporation (OTCQB: ADGO), a business solutions provider that
develops stand-alone digital delivery systems, electronic and enterprise
software products to capitalize on niche opportunities within a specific market,
recently announced the acquisition of the North American distribution rights
for wireless audio and innovative electro-acoustic products from Aska
Electronics Co., Ltd. of China.
"This acquisition has been in the works for several months and
culminates the hard work management has put forth that should have a
significant impact on revenues moving forward,” according to Advantego CEO,
Robert W. (Rob) Ferguson. “Combining
Aska’s continuing annual sales increases with our ability to now expand the
footprint presents an exciting time ahead for both of our firms,” he said.
Aska is a leading manufacturer of wireless audio and innovative
electro-acoustic products that include proprietary noise cancellation
technology and Bluetooth capability for headphones, earphones, waterproof sport
earbuds, speakers and IoT devices. The
firm provides its products and services as an OEM (Original Equipment
Manufacturer), an ODM (Original Design Manufacturer) and a JDM (Joint Design Manufacturer)
for customers worldwide.
Advantego will provide additional North American product branding, sales
and distribution services for Aksa's existing and new product
introductions. Aska will continue to
service their existing customers and will provide research and development,
product design and manufacturing services, along with private labeled products
to Advantego and its customers.
As previously announced, in exchange for the distribution rights Aska
will receive 700,000 shares of Advantego's preferred shares at $2 per
share. The preferred shares are
convertible into shares of Advantego's common stock, under certain pricing and timing
conditions.
Ferguson also pointed out: “The ability to add new cutting-edge
technology within the broad range of ASKA’s already unique capabilities
presents both a great opportunity and challenge for Advantego. To address both,
we have expanded several relationships recently in anticipation of this to
maximize the opportunities we now see in front of us and are looking forward to
seeing the results of our new joint efforts beginning in the third quarter and
throughout the rest of the year.”
Digital Turbine, Inc.
(NASDAQ: APPS), the #1 mobile
platform connecting operators and OEMs with mobile advertisers, announced in early May that it is partnering with leading
attribution and analytics companies to accelerate the expansion of SingleTap
capabilities by leveraging the scale of existing integrations with application
providers. Partners including AppsFlyer, Branch, Kochava, and Singular
represent approximately 85% of the top global applications market.
Digital Turbine's SingleTap
solution streamlines the app install process by enabling app delivery from any
mobile ad in just one tap. SingleTap is currently enabled on more than 150M
Android devices globally including nearly 50% of all Android smartphones in the
US. SingleTap to date is delivering up to 200% lift in click-to-install
conversion rates for advertisers and application providers.
"As the largest and most
robust mobile measurement platform on the globe we are excited to integrate the
AppsFlyer platform with Digital Turbine's SingleTap Installs solution,"
said Ben Roodman, Director of Partnerships at AppsFlyer. "We have already
seen early success with a number of our application partners and are excited to
expand SingleTap across many more apps."
"Improving the customer
experience and more accurate attribution have always been the key values of
Branch's platform," said Eric Stein, EVP and GM of Partnerships at Branch.
"Our app partners can now receive even more value through frictionless app
installs powered by Digital Turbine's SingleTap solution, driving their users
from an ad directly to the right page of their app without going through the
standard download process. Simply put, the power of SingleTap combined with the
power of Branch is driving the world's best app experiences."
"We are extremely excited to
work with AppsFlyer, Branch, Kochava, and Singular to deliver a better and
simplified end-user experience. SingleTap delivers improved conversions for
advertisers and creates new revenue streams for our Operator and OEM
partners," said Bill Stone, CEO of Digital Turbine. "Our vision to
expand SingleTap capabilities for any application a consumer wants to download,
on any Android device, anywhere on the planet, is being accelerated through
these strategic partnerships."
OneSoft Solutions Inc. (TSX-V: OSS) (OTCQB: OSSIF), a North American developer of cloud-based business
solutions, recently announced its financial results for the first quarter of fiscal
2019 that ended March 31, 2019.
Some of the financial highlights included a revenue of $592,302 for the
quarter ended March 31, 2019 more than doubled the $283,202 reported for the
comparative period, the gross margin remained strong at 86% due to high margin
software revenue and compared to 88% in the comparative period, as well as
subsequent to the quarter, collection of a large account receivable and
completion of the $9.2 million bought deal financing in April 2019 increased
cash to approximately $12.7 million.
Management is optimistic that the
Company is well positioned to successfully cross the “market adoption chasm”
that disruptive new technologies typically experience in their quest to garner
market share (refer to Company’s FYE February 28, 2018 MD&A, page 10
for further explanation).
“We believe that OneSoft’s “first
mover” advantage in having developed and commercialized the first O&G
pipeline integrity management solutions based on cloud computing, machine
learning and data science is highly beneficial. Management will now accelerate
the development of additional new technology and solutions that are accretive
to CIM and will appeal to CIM clients and prospective customers. We believe our
strategy to accelerate technology advancement, now feasible because of the
capital raise completed in April 2019, will ultimately contribute to increased
value for shareholders,” according the companies release.
AudioEye, Inc. (NASDAQ: AEYE), a leading provider of digital accessibility solutions
that provide barrier-free website access for individuals with disabilities,
also recently reported financial results for the first quarter
ended March 31, 2019.
Some of the first quarter
operational highlights included augmenting the existing management team through
the appointment of 20-year Corporate Finance Executive and proven Business
Leader, Sach Barot as new Chief Financial Officer, engaging former New York
Governor David Paterson as key political advocate and business consultant for
the AudioEye solution with the goal of addressing the significant increase in
litigation related to digital accessibility, specifically in New York State and
continued growth of direct sales channel client roster in the first quarter
with prominent new customers from the technology, fashion, retail, hospitality
and healthcare space among others.
Total revenues increased 73% to a
record $1.99 million from $1.15 million in the same period a year-ago. The
increase in revenues was primarily due to continued execution in direct channel
as well as steady growth in the indirect channel and gross profit increased 93%
to $1.08 million (54.5% of total revenues) from $562,000 (48.9% of total
revenues) in the same year-ago period. The increase in gross profit and gross
margin was primarily due to the increase in revenues previously described.
AudioEye
Executive Chairman, Carr Bettis said,
“The first quarter was a strong start to the year that has us in good position
to continue ramping our growth efforts throughout the balance of 2019. Total
revenues increased 73% to a record $1.99 million, which marks the thirteenth
consecutive quarter that we’ve achieved record topline results. Looking ahead,
we’re seeing even greater signs of growth and expansion. The past two months,
April and March, have been the best months in the history of our company in
terms of cash contract bookings. Thanks to our enhanced public relations and
marketing efforts, we’ve been able to increase our pipeline substantially and
will look to continue to accelerate this program going forward. We are
continuing to strategically funnel financial resources and add key personnel
into areas that will allow us to build on our market leading position and
further establish AudioEye as the de-facto leader in digital.”
Increased revenue and continued
growth supports the idea that this is a still a segment to watch in the tech
sector as demand continues
to reduce operational costs and proliferate profits through efficient
management of assets.
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