TORONTO, July 28, 2022– ARHT Media Inc. (“ARHT” or “the Company”) (TSXV: ART), the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, today announced its financial results for the second quarter ended June 30, 2022.
- Q2 2022 revenues of $2M vs $1.2M in Q2 2021, an increase of 66%, with significant momentum into Q3 2022
- 70% of delivered contracts in Q2 2022 were from repeat clients, as well as 17 new Fortune 500 companies and leading universities
- Europe, Middle East, and Africa revenue increases 147% YoY
- Successfully launched our new CAPSULE Holographic Display technology in late May, with more than $0.5 million shipped in the first month and significant volume in backlog
- Ukrainian President Volodymyr Zelenskyy was beamed from the war zone in Kyiv into four major European tech conferences: Founders Forum London, Brilliant Minds Stockholm, Viva Tech Paris and Web3 Amsterdam
- Paramount+ utilized CAPSULE for their Star Trek Experience in Piccadilly Square, London, UK, reaching over 3 million Instagram accounts
- Q2 2022 Net loss of $1.8M vs $1.3M in Q2 2021, primarily due to increased headcount and marketing as the Company continues to invest for growth
“I am extremely pleased with our results in Q2 2022. You can feel the momentum of our “$5 to $50 million” corporate strategy taking hold, with our new consumer-facing holographic display CAPSULE playing an important role in our revenue growth,” stated ARHT CEO Larry O’Reilly, “A combination of high profile events with Madam Secretary Hillary Clinton, President Zelenskyy, Dr. Condoleezza Rice, the Star Trek Experience London, along with a growing talented sales team, provides considerable confidence in our growth prospects as there has never been more demand from both existing and new clients for ARHT’s products and services.”
About ARHT Media
ARHT Media’s patented HoloPresence technology is a complete end-to-end solution that creates a sense of presence for audiences – as though the holographic presenter was actually live in the room. With no noticeable latency, ARHT Media makes two-way live communication with a 3D holographic presenter anywhere in the world possible. We can also playback pre-recorded content and 3D animations on our HoloPresence displays to deliver rich holographic experiences. Add to this our capability to stream the same content online on our premium Virtual Global StageTM.
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ARHT Media trades under the symbol “ART” on the TSX Venture Exchange.
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company’s sales funnel; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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