ImagineAR Inc said its revenue for the first nine months of 2021 has increased 384% over the comparable period in fiscal year 2020 to C$264,229.
The company also noted it has a cash position of C$5,297,395 as of May 31, 2021, which it says is enough to fund its operations at current levels through to the end of 2022.
ImagineAR added that with the commercialization of its SDK and the White-Label Mobile app products, the focus has been on entering into multi-year license agreements with sports and commercial clients.
READ: ImagineAR brings on former Adidas executive Jake Parks as North American sports and entertainment marketplace advisor
As well, the company provided an update on its clients:
- Club Atletico Mineiro has successfully launched the ImagineAR SDK Version 1.3 integrated into their mobile app and announced a new custom team shirt with over 100,000 orders in a week, which will also include immersive AR experiences
- Global Sports Initiatives has successfully launched its white-label mobile app SportIn in both the IOS and Android mobile app stores
- Shopper's Drug Mart, in partnership with HumanContact Inc, successfully delivered another interactive and immersive AR training session with their custom white-label mobile app
- Real Sociedad is expected to launch the ImagineAR SDK Version 1.3 integrated into their mobile app in August and
- White-Label mobile apps for Automotive Industries Publication, BlackOwned, and HumanConnect are in development and are now expected to be released in Fall 2021
ImagineAR creates augmented reality (AR) technology that blends together the real with the digital.
The Vancouver-based company, which changed its name from Imagination Park Technologies in April 2020, has developed ImagineAR.com and its AR-as-a service platform that enables businesses or individuals to launch their own AR campaigns without any prior programming or technology experience. The ImagineAR.com mobile app is available in the IOS and Android mobile app stores.
Contact Sean at sean@proactiveinvestors.com