CALGARY, July 6, 2017 /CNW/ - Trakopolis IoT Corp. (TSXV:
TRAK) is pleased to provide an update on initial sales results of
its recently launched electronic driver log book product.
In the first two weeks following the official launch of the
product the Company has experienced high demand for "Trakopolis
ELD". Several pilots have started and to date the Company is
pleased to have won 4 new customers that will collectively generate
$180,000 of upfront hardware revenue,
which will be recognized over future months, and approximately
$7,200 of monthly recurring revenue
post implementation. This translates into a 2% increase to monthly
recurring revenue. Expanding ARPU (average revenue per unit)
is a key focus of management and these early anticipated results
are encouraging.
Of note, the majority of the increasing sales funnel generated
from our channel partners and direct efforts are from new
customers. The Company will launch targeted campaigns throughout
the 3rd quarter to our existing customers while
expanding efforts with channel partners and resellers across
North America.
Trakopolis' Chief Revenue Officer, Ted
Duffield commented, "After refining our ELD product in Q1 we
are very pleased with the strong response from the market, funnel
progression, deployed pilots and initial wins. Additional
reseller agreements have been inked which positions our ELD
software to contribute to our continued revenue growth."
"Being adaptable and hardware agnostic enables Trakopolis to
deliver better features and functionality with greater flexibility
to the diverse end users in search of an ELD product that is an
extension of their asset tracking platform. Combined with
superior training and support during implementation, customers can
migrate to Trakopolis ELD seamlessly," stated Brent Moore, Chief Executive Officer of
Trakopolis.
Watch our ELD Solutions Video Here:
https://www.youtube.com/watch?v=js7-2oaNNZs
About the ELD Mandate
Another key driver of growth for the telematics industry overall
is the incoming electronic logbook requirements. This is a result
of the U.S. FMCSA's (Federal Motor Carrier Safety Administration)
new rules aimed at improving the safety of commercial truck and bus
drivers. The rule requires drivers to install and use electronic
logging devices (moving away from paper records) to ensure the
compliance of hour-of-service regulations. The mandate goes into
effect in December 2017 and will be
implemented in phases over the following two years. According to
FMCSA estimates, the ELD equipment market is worth ~US$1B; more meaningful is that it requires
customers to step back and evaluate their current technology
offering. Canada is expected to
follow with similar regulations. To beef up its offering in this
area, Trakopolis purchased (through a sales-based royalty) the
electronic logbook software assets of Verigo in November 2016. Trakopolis is now able to offer
its growing customer base a solution to address these
regulations.
About Trakopolis
Trakopolis is a Software as a Service (SaaS) company with
proprietary, cloud-based solutions for real-time tracking, data
analysis and management of corporate assets such as equipment,
devices, vehicles and workers. The Company's asset management
platform works across a variety of networks and devices. Trakopolis
has a diversified revenue stream from many verticals including oil
and gas, forestry, transportation, construction, rentals, urban
services, mining, government and others.
This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation that
are not historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding: the business and operations
of Trakopolis; expected sales of ELD; legislative and regulatory
changes; the integration of ELD with Trakopolis' existing business;
the market opportunity of ELD technology; ELD campaign launch; and
sales and revenue from ELOG. Forward-looking statements are
necessarily based on a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties and other factors which may cause actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: the market opportunity and
commercial success of ELD; sales of ELD to existing and new
customers; general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments, including
legislative developments with respect to ELD; those additional
risks set out in the Trakopolis' public documents filed on SEDAR at
www.sedar.com; and other matters discussed in this news release.
Although Trakopolis believes that the assumptions and factors used
in preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at
all. Except where required by law, Trakopolis disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Trakopolis IoT Corp.