INEO’s sales activities are accelerating with the Company’s sales pipeline climbing to over $40 million in annual recurring revenue.
Surrey, BC – August 11, 2022 – INEO Tech Corp. (TSX-V: INEO; OTCQB: INEOF) (the “Company” or “INEO”), the innovative developer and operator of the INEO Media Network, a digital advertising and analytics solution for retailers, is notifying investors that the recording of the INEO Corporate Update Webinar from July 27, 2022 has been posted to the Company website at www.ineosolutionsinc.com.
INEO previously announced the Company is expecting to deliver another quarter of record revenue in Q4-2022, with growth approaching 90% over Q4-2021. In addition, the size of the INEO sales pipeline has grown to over $40 million in annual recurring revenue, based on the potential full contract value with retail chains who have currently installed, or committed pilot installations.
In the webinar video, INEO’s CEO Kyle Hall states, “INEO will typically receive anywhere from $500 to $1,000 per month per store. The range in revenue depends on the number of INEO Welcoming Systems, INEO Welcoming Duo’s, INEO Media Players or INEO GATE systems installed at the store. Our (sales) pipeline represents over 7,000 locations through direct and Prosegur partner channels..…we have only included chains in our pipeline where we have either a contract, a pilot or a committed pilot. The gross pipeline is much, much bigger than $40 million annual revenue if we included retail chains that are interested but have not yet committed to a pilot.”
Also in the webinar video, Mr. Hall and Chairman and President Greg Watkin discuss how INEO’s business is accelerating with active pilots and commitments with large retail chains representing a broad spectrum of industries including grocery, apparel, wholesale club, hardware, department store and pharmacy chains. Additionally, INEO’s advertising fill rates have increased tremendously on the INEO Media Network. INEO has had over 30 major brands or advertisers, and many more smaller ones, who have utilized the power of the INEO Media Network.
Webinar Video Details:
To view the video of the INEO Corporate Update Webinar, please visit the INEO website at:
INEO Tech Corp.
Per: “Kyle Hall”
Kyle Hall, Chief Executive Officer and Director
About INEO Tech Corp.
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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Future-Oriented Financial Information
To the extent any forward-looking statements in this press release may constitute future-oriented financial information or financial outlooks within the meaning of securities laws, such information is being provided to demonstrate the potential financial performance of INEO and readers are cautioned that this information may not be appropriate for and should not be used for any other purpose and that they should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out below under “Forward-Looking Statements”.
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Investor Relations, INEO Tech Corp.