INEO Q2-2023 Financial Results [Watch the Investor Webinar]
In case you missed it, INEO recently hosted an investor webinar discussing the company’s second-quarter results, significant roll-out progress, and businesses outlook for 2023. Hosted by Kyle Hall, CEO, and Greg Watkin, Chairman and President, of INEO Tech Corp., the event revealed important results and exciting progress for the company.
Greg Watkin, Chairman and President of INEO commented, “INEO is ahead of schedule on its initial 2023 Welcoming System deployment plans with over 50 locations installed in retail stores in the United States so far this year. We have successfully completed installations in retail stores located in key major cities such as New York City and Los Angeles and have deployed systems in cities in nine additional states including Tennessee, New Jersey, Pennsylvania, New Hampshire, Massachusetts, North Carolina, Virginia, Washington and Florida.”
Some highlights from the webinar include:
INEO achieved revenue growth of 50% in Fiscal Q2-2023 compared Q2 of last year, while gross profit increased 92% compared to last year.
INEO is ahead of schedule on its initial 2023 Welcoming System deployment plans with over 50 locations installed in retail stores in the United States so far this year.
INEO has pilots installed or committed in 5 prominent chains in the US with its multi-national distribution partner, Prosegur.
Kyle Hall, CEO of INEO, commented, “The overall outlook for INEO remains very positive with the Company continuing its aggressive deployment schedule and ramping up its installation locations with contracted customers across the United States. We’ve reached a tremendous milestone where our retail media network is in the process of being installed in major metropolitan cities across the United States.”
Watch the webinar replay to find out more about INEO’s recent performance and exciting outlook for the future.
About INEO Tech Corp. (TSXV: INEO; OTCQB: INEOF)
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers. INEO’s patented technology integrates and monetizes digital screens with theft detection sensor gates at the entrance of retail stores. The Company’s cloud-based platform uses IoT (Internet of Things) and AI (Artificial Intelligence) technology to deliver customized digital advertising to each retail location based on the demographic mix, such as age and gender, of customer traffic at each
location. The Company also deploys the INEO Welcoming Network technology through a SaaS-based solution to larger retail chains. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol “INEO” and on the OTCQB-Venture Market under the symbol “INEOF”.
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