Revenues increase 318% to $1.43 million driven by growing recurring sales with global clients and new sales activities
TORONTO, CANADA – January 7, 2020 – ARHT Media Inc. (“ARHT” or the “Company”) (TSXV:ART), the global leader in the development, production and distribution of high-quality hologram content through its patented Holographic Telepresence technology is pleased to announce its unaudited revenues for the three-month period ended December 31, 2019 increased by 318% to $1.43 million when compared to $342,000 during the corresponding period in 2018.
These results represent a record revenue quarter since the launch of ARHT’s new business model in February 2018. During this period, the sales efforts have resulted in eight Sales Agreements which include a sale of our capture and/or display equipment, as well as software license and broadcast fees that will generate recurring revenues.
Revenue Highlights in Q4 2019 include:
- Eight events and four Sale Agreements in the healthcare industry.
- Four events and two Sale Agreements in the technology industry.
- Five events in the financial services industry.
- Launch of new reseller in Tel Aviv, Israel.
- Launch of new reseller in Seoul, South Korea.
- First global town hall meeting with CEO and senior executives presenting as holograms and streaming to over 100,000 employees world-wide.
- First awards show event with Canada’s Walk of Fame Gala.
- Featured technology in WestJet’s Christmas Miracle 2019.
- 12-week 5G Concert Experience showcase in downtown Toronto.
“Q4 was a great growth quarter for ARHT Media with a key sales focus on healthcare, technology, financial services and education, with each of these verticals capable of delivering significant long-term recurring revenues,” stated ARHT CEO, Larry O’Reilly. “The growth in the Company’s business primarily came from repeat clients with major international brands capable of significant expansion in our business.”
The Company anticipates reporting its full audited financial results for the three and twelve month periods ended December 31, 2019, by the end of March 2020.
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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