Vsblty unveils strong earnings, retail analytics and first responder integrations
Vsblty, a provider of security and retail analytics technology, has provided an update on its financial status as upcoming deals portend revenue growth for the remainder of fiscal 2021.
The company reports that third quarter sales bookings reached $4.5 million (USD), while revenue was $522,683. CEO Jay Hutton says that the results were based on strong sales of both retail and security solutions. “Further encouraging is that Q4 revenue is already considerably ahead of Q3 results and we are anticipating a strong finish to this calendar year,” he added in a prepared statement.
For perspective, Vsblty reported revenues of $607,000 in all of fiscal 2020 for its products, including machine learning, computer vision and face biometrics technologies.
One deal Vsblty recently signed is with Phoenix Vision. The companies have signed a letter of intent to collaborate on building a major media network starting with more than 600 convenience stores throughout the U.S. Vsblty’s strategy of helping companies build Smart Retail capabilities with its ‘Store as a Medium’ concept is not strictly tied to its biometric identification, but the company does have analytics offerings that provide audience data based on computer vision technology.
Another retail deal is a contract with EOS Charge Stations which the customer is initially deploying across Atlanta, Georgia and Chattanooga, Tennessee. The company’s camera and sensor technology is providing analytics and audience measurement for out-of-home advertising being displayed at the charging stations. Hutton said the total contract value for the first 504 planned units totaled $1.16 million.
Vsblty also announced a joint system integration with 911inform in November. The company said the “Total Security Platform” has been completed, tested, and deployed to multiple customers across the United States. The system provides police, first responders and local onsite personnel with the ability to access data instantly and gain situational awareness from its Vector software through its partnership with 911inform.
The company signed a similar deal in July with RapidSOS in which first responders and 911 telecommunicators with the ability to access biometrics and other incident data from Vsblty’s Vector software via RapidSOS.
The data will include immediate weapons detection, facial recognition classifying persons of interest (POI), sworn officers, suspects, victims, and bystanders, as well as license plate recognition at crime sites.