Business
SOBRsafe Reports Full Year 2022 Results
DENVER, CO / ACCESSWIRE / March 31, 2023 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe" or the "Company"), providers of industry-leading alcohol detection
About this update from Sobr Safe, Inc.
[{"type":"text","content":"DENVER, CO / ACCESSWIRE / March 31, 2023 / SOBR Safe, Inc. (NASDAQ:SOBR) (\"SOBRsafe\" or the \"Company\"), providers of industry-leading alcohol detection solutions, today announced financial results for the full year ended December 31, 2022.2022 HighlightsCapital Markets - SOBRsafe raised a total of $19.5 million in 2022, in historically challenging market conditions. As of December 31, 2022, total capital raised since 2019 exceeded $25 million.Building the Sales Pipeline - SOBRsafe sales professionals attended 10 alcohol and drug-related conferences, introducing its technology to approximately 10,000 companies and conducting approximately 2,000 SOBRcheck™ demonstrations - yielding more than 600 qualified customer leads.Outsourcing of Manufacturing and Customer Support - in order to minimize fixed costs and maximize quality and scalability on Day 1, SOBRsafe outsourced these functions to proven providers BGM Electronic Services and Helm, respectively. Specifically, BGM manages SOBRsafe's design, engineering, manufacturing and testing, and other customers include GM, Ford and Stellantis (Chrysler-Fiat). Helm manages the Company's packaging, fulfillment, onboarding and customer service, and other customers include Domino's, Merrell and BMW.Product Recognition - SOBRcheck was awarded the Occupational Health & Safety 2022 New Product of the Year - Safety Monitoring Devices, and the Company received the Child Safety Network Safe Family Seal of Approval.Key Markets Entered:Fleet and Facility - In July 2022, SOBRsafe entered the fleet market via a software-as-a-service (SaaS) agreement with Continental Services, Michigan's largest food management company. Through that process Continental realized material savings on its insurance premiums. The Company also signed an agreement with a Top 100 Property & Casualty insurance company to test the technology with fleet customers. The A-Rated carrier is evaluating SOBRsafe as a potential embedded safety solution for customer discounts.Oil and Gas - In December 2022, SOBRsafe entered the oil and market via a SaaS agreement with TerraTech Services, one of the world's largest oilfield services and logistics providers. SOBRcheck™ was installed in two of TerraTech's 17 locations, with an indicated opportunity to expand within 3-5 months. Oil and gas is a critical market for SOBRsafe, as it experie...