Tailwinds’ Take: Trakopolis is well positioned to grow this business based on the recently upheld ELD Mandates. Based on current sales traction this looks like a million dollar annual opportunity and it has only just begun.
CALGARY, Sept. 19, 2017 /CNW/ – Trakopolis IoT Corp. (TSXV: TRAK) is pleased to provide an update on strong sales results of its recently launched (Electronic Logging Device) ELD product.
The Company has won a new enterprise customer for its ELD offering bringing the number of active ELD subscriptions to 332 with the potential for an additional 750 from initial customers. Active pilot projects represent further opportunities in excess of 600 ELD units.
Trakopolis’ Chief Revenue Officer, Ted Duffield commented, “One out of three of our new sales opportunities has an ELD requirement which has surpassed our initial expectations. Urgency in the market combined with our established channel and product offering positions us well for continued growth.”
“Expanding average revenue per units (ARPU) is a key objective of Management and we are very pleased with the results to date in that regard,” 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 with hours-of-service regulations. The new rule will go into effect in December 2017 and will be implemented in phases over the following two years. Canada is expected to follow with similar regulations. To enhance its offering in this area, Trakopolis purchased 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.
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 personnel. 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 ELD. 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.
For further information: Brent Moore, President and Chief Executive Officer, Trakopolis IoT Corp., Telephone: (403) 450-7854, Email: firstname.lastname@example.org