In case you missed it, INEO recently hosted an investor webinar discussing the company’s first-quarter results, growing sales pipeline, and businesses outlook for 2023. Hosted by Kyle Hall, CEO, and Greg Watkin, Chairman and President, of INEO Tech Corp., the event revealed record results and exciting progress for the company.
Some highlights from the webinar include:
INEO’s sales pipeline now increasing to over 9,500 store locations (incl. direct sales efforts and partner, Prosegur)
The sales pipeline now represents over $40 million in annual recurring revenue once fully deployed.
INEO achieved record revenues of $416 thousand in the quarter, representing an increase of 74% from the same quarter last year.
INEO achieved a record gross profit of $208 thousand in Q1-2023, compared to $109 thousand in Q1-2022, representing an increase of 90% YoY.
INEO provided an update on the significant progress it made on its sales pipeline, highlighting the completion of multiple rollouts in select geographic areas within the U.S. and the successful conversion of a pilot trial into a customer order with a large South American grocery retailer.