Business
Year-End Trading Update
Year-End Trading Update.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n \n \n \n \n \n 16 February 2023\n \n \n \n \n \n \n \n \n t42 IoT Tracking Solutions plc\n \n \n \n (\"t42\" or the \"Company\")\n \n \n \n \n \n \n \n T42 year-end trading update\n \n \n t42\n \n IoT Tracking Solutions plc (AIM: TRAC) (\"\n t42\n \" or the \"\n Company\n \"), the provider of global shipping containers tracking solutions, is pleased to provide the following trading update for the year ended 31 December 2022 (\"FY2022\") and an update on the Company's prospects for the current year. The Company expects to announce its audited results for the year ended 31 December 2022 in March 2023.\n \n \n \n \n \n The Company expects to report total revenues for FY2022 of approximately US$4.0 million, including approximately $2.0 million\n o\n f SaaS income representing approximately 50% of the total revenues for the period (2021:\n 51\n %). This result was achieved in spite of the global supply chain issues faced by many companies and continuing business recovery from the Covid pandemic.\n \n \n In 2022, the Company continued its expansion and is now well-positioned for this year with numerous opportunities and potential new key customers. It has continued its ongoing transition into the shipping container business sector with a number of pilot studies with potential new customers. As a result, initial orders from clients in the USA, South America, and Israel have been received, indicating a positive outlook for 2023.\n \n \n This year started with presentations of\n the Company's innovative solutions through DHL, Eseye, and other partners at key exhibitions in Brazil and Barcelona. The growing awareness of t42's Lokies and other products is already generating new leads and business opportunities.\n \n \n Furthermore, the Company expects to extend its presence in South America following the deals announced last year. Although small initial orders were received in 2022 due to local political reasons, t42's distributor expects that the situation will improve in the first half of this year\n and that more substantial orders will begin to be received.\n \n \n Following the growing demand in Africa,\n the Company continues to support its Helios product line, meeting the need for product development. This includes integration support for 2G networks and above and tailor-designed solutions...