Smartspace Software - Trading Update & Evoko Naso Launch
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SmartSpace Software Plc
("SmartSpace", the "Group" or the "Company")
Evoko releases next generation meeting room panels 'Naso' through its network of global partners
& Trading Update
SmartSpace Software Plc (AIM: SMRT), the leading provider of 'Integrated Space Management Software' for smart buildings is pleased to announce that Evoko, the market leading manufacturer of meeting room panels, has announced the release of Naso, its next generation meeting room solution. Naso is now available to order by Evoko partners globally with the first shipments expected from Monday
SmartSpace has worked with Evoko as its exclusive software partner to create the Naso software suite and will share in revenue from the sale of Naso panels and the ongoing SaaS subscription for each panel. In addition, SmartSpace has integrated its meeting room, desk and visitor management solutions with Naso. These SaaS modules will be marketed as Naso 'Rose', 'Pepper' and 'Guava' respectively and are designed so that they can be easily activated and configured by customers.
The launch of Naso represents a significant step in SmartSpace's strategy of creating a channel partner network, to sell its Space Connect software product globally. The Directors believe the relationship with Evoko has the potential to generate significant future revenues for the Company in the form of both revenue sharing from the sale of Naso panels and SaaS software subscriptions.
The Group continues to make good progress, including;
· Continued momentum of SwipedOn KPIs;
· SwipedOn 'Desks' is due to be released imminently;
· SwipedOn to be offered through the AWS ("Amazon Web Services") Marketplace; and
· Sales of Space Connect through channel partners starting to gather pace, building on our pipeline.
SwipedOn continues to sign an encouraging number of new customers and locations each month, despite the ongoing pandemic and the various stages of Lockdown in place around the world. There has been a noticeable increase in interest in the US and
The Group has made good progress with the development of SwipedOn Desks, a new module, which uses desk management functionality in Space Connect. From December, SwipedOn Desks will be offered to a targeted audience of
SwipedOn will also shortly be made available to purchase on
Our partnership with Softcat continues to deliver new customers and ARR**. As previously outlined, our strategy is to build a channel sales network for Space Connect. We now have partners in the
Whilst Anders & Kern ("A+K") continues to generate revenue, they have not yet returned to pre-Covid 19 levels, as many end-users' offices in the
Aside from the A+K team, our
Commenting on today's news
This is the first time Evoko has offered a suite of SaaS software tools to help our customers optimise their real estate. Our partnership with SmartSpace has created a great opportunity for Evoko to evolve our business model. The Evoko product team and the SmartSpace development team have worked hard over the past 2 years to create what we feel is a unique offering in the market place."
I am also glad to report the continued positive momentum through the rest of the business. We previously highlighted that our strategy is to build out a comprehensive channel sales network for Space Connect and we are making good progress with this objective, engaging and signing new partners. SwipedOn continues to do very well delivering on further growth in customers, additional locations, ARR and ARPU since our last update in early October. We are looking forward to releasing SwipedOn Desks, as this creates an opportunity for a step change in ARPU. The second Lockdown has been frustrating for A+K but, even so, we have still seen reasonably strong revenues and we have used the time to promote the new space management product lines across its reseller network.
So overall, SmartSpace continues to push forward with strong opportunities across the Group in delivering future significant growth. "
* Average revenue per user per month | **Annual recurring revenue
Canaccord Genuity (Joint Broker)
Notes to Editors
About SmartSpace Software Plc
SmartSpace Software is a SaaS-based technology business, designing and building smart software solutions. The Company's software solutions in workspace help transform employee and customer engagement with modules which include desk management, meeting room management, wayfinding, car parking, visitor management, and analytics.
The three operating companies in the Group comprise:
· Space Connect -
· SwipedOn - SaaS Visitor Management (www.SwipedOn.com)
· Anders & Kern - distribution and technical support (www.anders-kern.co.uk)
For more information go to: www.smartspaceplc.com
Evoko is a Swedish tech company who develop, market and sell innovative products that help modern meeting spaces to become more efficient. The first generation of Evoko room managers emerged in 2009 and received numerous awards for innovation and design. Today Evoko meeting solutions are deployed in more than 80 countries. For more information go to: www.evoko.se
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