B-Scada Reports Q2 Financials

B-Scada, Inc. (PINK: SCDA) reports our second quarter ("Current Quarter") results for fiscal 2016-2017. Revenue for the three months ending April 30 was $281,929 compared to $380,358 in the same period in fiscal 2015. Overall operating gain or for the Current Quarter was $69,239 compared to a loss of $21,876 for the same period last fiscal year. Commercial Software sales were $32,618 in the current quarter, an increase from $27,963 in Q1 of this year. Software as a Service revenue was $4,870 for the current quarter.

B-Scada returned to profitability this quarter. While revenues declined as the last of our petrol chemical agreements expired, managing our expenses resulted in a gain. SaaS revenue has started to materialize from our Status Device Cloud IoT platform. We now are regularly onboarding new clients to the system. Deployments include remote boiler monitoring, monitoring equipment and conditions for a national grocery store chain, heating and ventilation systems, wireless sensors, and environmental monitoring. Some pilot projects undertaken with the platform could lead to tens of thousands of connected devices leveraging B-Scada technology. We have also started to see some sales of B-Scada wireless sensors.

The steep revenue decline seen over the past few quarters because of the struggling petrochemical sector is now behind us and being replaced by new revenue from our cloud based SaaS offerings. Interest in Status Device Cloud, our SaaS based sensor monitoring platform, is high and will be our revenue focus over the upcoming year.

B-Scada has invested heavily the past two years in new products, technologies, and infrastructure. These include our own line of wireless sensors and our Status Device Cloud platform. This investment will provide a great opportunity for the company to grow and prosper and believe the foundation we have put in place will set the stage for long term growth and profitability for the company. To promote and support these initiatives, B-Scada may be looking for additional sources of funding to grow the business.