TraceSafe Reports Record-Breaking Preliminary Q4 and Year-End Financials
Vancouver, British Columbia--(Newsfile Corp. - April 19, 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 record 2020 sales numbers of $3.6 million USD closing out Fourth Quarter ("Q4") 2020 with sales of $2 million USD. The final audited financials will be filed by April 30, 2021.
The massive growth seen in Q4 is a result of continued sales strength in the Asia Pacific region, including contracts with the Government of Hong Kong and a Singapore conglomerate. In the North America region, sales increased 148% in Q4 compared to Q3, attributed to contracts with Hockey Canada, TD Garden, and the Cayman Islands Ministry of Health, Environment, Culture, and Housing.
"We are proud that TraceSafe's sales growth in Q4 2020 exceeded our internal targets," stated Wayne Lloyd, CEO of TraceSafe Inc. "TraceSafe is honored to continue serving a role in helping governments and enterprises mitigate the global pandemic while at the same time entering into multi-year technology contracts in non-pandemic business lines. We continue to build up asset tracking, hospital patient management, and other exciting technologies. Our solutions are emerging as highly sought-after innovations for the workplace of the future."
Sales drivers for 2021 include growth beyond contact tracing into areas of asset tracking, time and attendance, and worker safety.
2020 key highlights:
- Over 800,000 devices sold;
- Increased average hardware sales price tenfold thanks to engineering and manufacturing breakthroughs;
- Gained strategic partnerships, including TELUS, Tritan Software, ReturnSafe, Elite Events, Talon, TTG, Gotham Growth, and UKG;
- Increased the team eightfold;
- Hired for key leadership roles: Gordon Zeilstra as Chief Revenue Officer, Jasling Ong as Managing Director of TraceSafe Asia Pacific, and Marcin Samiec as Chief Privacy Officer.
Goals for 2021:
- Transform revenue with a focus on SaaS;
- Deepen industry-specific product offering with a focus on workplace safety and connectivity, engagement, productivity, and asset tracking;
- Grow sales, partnership, and customer success teams by building and scaling revenue & go-to-market strategy;
- Continue to build and expand reseller partnership networks into Africa, Central and South America, and Europe.
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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