TraceSafe Inc., (CSE:TSF), a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, has announced record 2020 sales numbers of US$3.6 million, closing out Q4 2020 with sales of US$2 million.
The company said the massive growth seen in Q4 is a result of continued sales strength in the Asia Pacific region, including contracts with the Government of Hong Kong and a Singapore conglomerate. In the North America region, sales increased 148% in Q4 compared to Q3, attributed to contracts with Hockey Canada, TD Garden, and the Cayman Islands Ministry of Health, Environment, Culture, and Housing.
"We are proud that TraceSafe's sales growth in Q4 2020 exceeded our internal targets," said Wayne Lloyd, CEO of TraceSafe in a statement.
READ: TraceSafe to provide contact tracing and quarantine solutions during Women's World Hockey Championship in Nova Scotia
"TraceSafe is honored to continue serving a role in helping governments and enterprises mitigate the global pandemic while at the same time entering into multi-year technology contracts in non-pandemic business lines. We continue to build up asset tracking, hospital patient management, and other exciting technologies. Our solutions are emerging as highly sought-after innovations for the workplace of the future," the CEO added.
The company said its final audited financials will be filed by April 30, 2021.
TraceSafe noted that sales drivers for 2021 include growth beyond contact tracing into areas of asset tracking, time and attendance, and worker safety.
2020 key highlights:
- Over 800,000 devices sold
- Increased average hardware sales price tenfold thanks to engineering and manufacturing breakthroughs
- Gained strategic partnerships, including TELUS, Tritan Software, ReturnSafe, Elite Events, Talon, TTG, Gotham Growth, and UKG
- Increased the team eightfold
- Hired for key leadership roles: Gordon Zeilstra as Chief Revenue Officer, Jasling Ong as Managing Director of TraceSafe Asia Pacific, and Marcin Samiec as Chief Privacy Officer
Goals for 2021:
- Transform revenue with a focus on SaaS
- Deepen industry-specific product offering with a focus on workplace safety and connectivity, engagement, productivity, and asset tracking
- Grow sales, partnership, and customer success teams by building and scaling revenue & go-to-market strategy
- Continue to build and expand reseller partnership networks into Africa, Central and South America, and Europe
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low-power Bluetooth beacons and enterprise cloud management. The company's leading cloud management solution ensures both user privacy and comprehensive administrative control.
TraceSafe's patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government, and large-scale venue management.
Contact the author at jon.hopkins@proactiveinvestors.com