GeoJunxion NV Publishes its Q1 2021 Interim Consolidated Results and Trading Update
by Caroline BombartApril 29, 2021
Capelle aan den Ijssel, The Netherlands 29 April 2021 – GeoJunxion shows modest Q1 YoY topline growth, improves its bottom line, and significantly increases order intake, which will convert into revenue in the remainder of 2021.
Covid-19 and the related measures taken over the past 12 months, have proven to be a significant challenge for the global economy. The GeoJunxion team and our underlying business continues to show strong resilience: Revenue during the past quarter has increased by a modest 4% compared to the same period in 2020. The bright spot is the order intake, which has increased by 38% thus far, versus last year. In addition, we are very encouraged by the market response to our new products and the strength of our pipeline of opportunities.
OPERATIONAL HIGHLIGHTS AND STRATEGY UPDATE
Amid the COVID restrictions, companies are still very prudent and at times very reluctant to invest. This is especially valid for businesses in the travel, leisure, and events segment. In this environment and without any precise timelines on when restriction will end, several of our prospects and customer opportunities are waiting for clarity to restart activities and invest in business improvements.
In the first quarter of this year, we have focused on expanding our interactions with the industry through our new High Alert Zones family of products. We continue to receive positive feedback, invitations for product demos and requests for test and evaluation samples. Strongest traction is on our Eco Alert Zones, where we have a unique value proposition with fully attributed, global, and authoritative coverage of Low Emission Zones, Congestion areas and Limited Traffic zones. Several prospects have confirmed the quality, freshness, and completeness of our data. This has led to a strong pipeline of opportunities, some of which we expect to close in months to come.
We have also engaged with several prospects for our Outdoor Venue Plan services. Many of these use cases are related to travel, leisure, and tourism. However, these businesses were hit severely by the current COVID measures hence they hesitate to investe in better visitor experience.
Since the launch of our new brand and website in October 2020, we have seen a growing number of relevant visitors to our website. We are also receiving more and more interesting leads for our key services and products: Location Intelligence Services and High Alert Zones. Our monthly webinars are enjoying growing traction and attention. Recordings of all webinars are available on our website, in the resources section.
For the first few months of the year, we have made significant investments in the improving and expanding our key future products: Safety, Eco, and Health Alert Zones. In addition, we have invested in a mobile app called GeoAlertsLive, planned to launch at the end of April. The launch of this app is a significant development in three ways: Firstly, it creates a new and direct channel into the market. Secondly, it will help us demonstrate the great value of our High Alert Zones suite of products. And thirdly it will enable us to get direct customer feedback, to further tailor and improve our products. The app will be available soon on the Google PlayStore and Apple Store and will be offered with a freemium business model.
With the development of our own app, the team is also developing the necessary underlying APIs to communicate between the mobile users and GeoJunxion’s location enabled cloud-based data servers. This suite of APIs, built for high volumes of requests, will demonstrate our technological capabilities to other mobile application builders, smart cities projects, as well as enable our own High Alert Zones content platform.
At the end of last year, GeoJunxion was invited by Esri to be one of their few partners to participate in the Service on Demand (SoD) pilot program. Service on Demand is a new way to sell our data to the ArcGIS users worldwide. Through the Esri ArcGIS platform, GeoJunxion will be enabled to sell its content directly to the complete user base. The SoD technology allows GeoJunxion to keep the content safe, on its own infrastructure, while giving access to it on demand. An interested ArcGIS MarketPlace user can then purchase exactly the data that is relevant to its application by indicating the region or location of interest and pay accordingly via the platform. In the first quarter of this year, we installed and tested the technology for our ZIP+4 content. In the coming months, we will perform further tests and deploy additional content. A successful completion of this pilot will enable GeoJunxion to offer a complete new and more flexible business model, such as micro services.
In response to the increasing demand for hyper local content, we have created a unique suite of algorithms and methods, that enables us to automate the generation of boundaries or polygons. Based on this technology, we are creating a new Built-Up Areas product with worldwide coverage. A build up area, is an area that has a dense concentration of residential or industrial buildings and is typically a subset of a city area. Knowing the exact location of the built-up area is a very critical piece of information for any location solution. It could enable, for example, more advanced routing or display functions.