TraceSafe - A post-COVID play with limitless applications
TraceSafe is an emerging leader in the growing market for health and safety wearables. The COVID crisis has accelerated the adoption of wearables technologies across industries, offering an effective solution for contact tracing and significant applications beyond. Our initiation report (29 Sep 2020) provided a broad overview of the company’s capabilities and financial outlook. We provide an update of recent developments below and a summary of the product range on page 2.
In the last three months, TraceSafe has continued to significantly expand its market presence. It gained its first customer in the education sector and won prominent contracts with the TD Gardens Arena in Boston, the Junior World Hockey Championship, and the Boustead engineering group in Singapore. The Boustead contract led to TraceSafe winning the Singapore National Innovation Challenge. This market is particularly noteworthy because Singapore has been a world leader in rolling out back-to-work technology solutions, which we expect other countries to replicate.
In addition to signing new customer contracts, in the last three months, TraceSafe has added further new technology partnerships, including agreements with the UKG (Ultimate Kronos Group) Dimensions Technology Partner Network, the TELUS IoT Market Place, and a partnership with Tritan Software giving TraceSafe exposure to 95% of all cruise ship operators. These agreements extend TraceSafe’s route to market, and we expect further partnerships to be announced during the first half of 2021.
Overall, we argue that TraceSafe has now completed its strategic aim of validating the technology in service across multiple safety-critical operating environments. For 2021 we believe the focus will be on continuing to grow revenues within existing market spaces, adding new verticals, and continuing to grow the software element of the revenue base.
Quick facts: TraceSafe Inc.
Price: 1.42 CAD
Market Cap: $50.33 m
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