Business
AirIQ Announces Additional Purchase Order from Major U.S. Customer
TORONTO, ON / ACCESSWIRE / August 10, 2021 / AirIQ Inc. ("AirIQ") (TSXV:IQ), a supplier of w...
About this update from Airiq Inc.
[{"type":"text","content":"AirIQ Announces Additional Purchase Order from Major U.S. CustomerTORONTO, ON / ACCESSWIRE / August 10, 2021 / AirIQ Inc. (\"AirIQ\") (TSXV:IQ), a supplier of wireless asset management services, today announced that it secured further orders in June and July, 2021 for hardware and services totalling approximately CAD$393,000 from an existing major rental customer in the United States for both its truck and vehicle fleets.\"Procuring consistent orders from this customer demonstrates the commitment that AirIQ provides to vehicle fleet customers throughout North America,\" stated Mike Robb, President and Chief Executive Officer of AirIQ. \"We look forward to continuing to work with this customer, and others like it, to provide valuable fleet management solutions across multiple fleet assets,\" continued Mr. Robb.Hardware revenues of approximately $221,000 will be recognized when the devices are shipped and recurring revenues for service of approximately $172,000 will be recognized over the initial two years of the contract term.About AirIQAirIQ (TSXV: IQ) was founded in 1997 and is a pioneer in IoT based asset management solutions. AirIQ's solutions allow commercial businesses to reliably, effectively and efficiently monitor assets in near real time. The Company develops iOS and Android mobile and web-based applications, and cloud-based solutions that stand-alone or that can be readily integrated with existing software. AirIQ solutions are mixed fleet capable and provide fleet reporting, maintenance, compliance, safety and analytics utilizing multiple hardware options including a fully integrated video telematics camera solution and a battery powered solution for non-powered assets. For additional information on AirIQ please visit the Company's website at www.airiq.com or follow us on LinkedIn, Facebook and Twitter.Forward-looking StatementsThis news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as \"hope\", \"goal\", \"anticipate\", \"believe\", \"expect\", \"plan\" or similar words suggesting future outcomes. These statements a...