Business
BCNN Tekumo Announces Q2 Results and Outlook
BCNN Tekumo Announces Q2 Results and Outlook.
About this update from Tekumo, Inc.
[{"type":"text","content":"\n NEW YORK, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Balincan USA Inc. (\"Balincan\" or the \"Company\") and Tekumo announced its financial results for the second quarter. Revenue for the second quarter increased 70.6% over the first quarter. The first half of Q3 has already exceeded revenue for Q2. As indicated in the graph below, work orders have grown at approximately 45% monthly since March. This growth reflects our recently announced partnerships with the largest Retail managed service provider, digital signage partners, and a leader in Smart Home Rental Technologies. FINANCIAL OUTLOOK We continue to expect that revenue generated over the next 12 months will exceed more than $6 million. Given our gross margin of 40% and Operating Expenses of approximately $2.2 million, this would near cash flow breakeven. We will continue to invest in our technology and sales efforts fostering further growth into 2024. As you review this MD&A, we encourage you to read our interim financial statements and notes for the quarter ended June 30, 2023, and our Letter to Shareholders dated May 9, 2023 (all filed with OTC Markets). CORPORATE OVERVIEW The Company offers a service delivery platform that solves the \"last-mile\" of installing, monitoring, and maintaining technology systems and smart connected devices.  We play at the intersection of two major trends: the “Uber-ization” of product and service delivery, and the explosion of smart connected devices brought about by the “Internet of Things” (IoT). Our Service Delivery platform was designed to intelligently automate the installation and maintenance of products by offering On-Demand local technician resources, as well as providing a “smart interface” for the monitoring and management of connected devices.  This service platform caters for a broad range of technologies from POS systems, kiosks, digital menu boards, cameras, cabling, Wi-Fi and networking, to water and energy management, lighting and HVAC control, smart homes devices, wearable sensors, and access control. Our platform results in “less people, less time and less cost” for our customers. This MD&A includes statements and information about our expectations for the future. When we discuss our strategy, plans, future financial and operating performance, or other things tha...