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TraceSafe - Wearable tech here to stay

Last updated: 08:27 01 Jun 2021 EDT, First published: 08:26 01 Jun 2021 EDT

TraceSafe is an emerging leader in the growing market for health and safety wearables and the software that enables enterprises to customize and deploy these technologies. The company recently reported revenues for the first quarter (ended March 2021) and an update on pending revenue recognition from sales already booked. Including those booked sales, the company is already exceeding the full-year (FY) 2020 revenue total.

In addition, the company has reported several other important developments in recent months:

  • A two-year contract to provide integrated wearables for Fred. Olsen CruiseLines, which will be used to enhance the overall guest experience and comply with long-term CDC guidelines for COVID-related contact tracing.
  • A pilot program for use of wearables as a time-and-attendance tool, with a Canadian medical center. This is an example of a customer group that was an early adopter (contact tracing in healthcare) now examining broader uses of the wearable technology.
  • An agreement with a Fortune 500 company for wearables to be deployed across their 60,000-strong global workforce.
  • The award for Internet of Things at the Singapore Business Review awards in April 2021 for the SafeSite system from TraceSafe, which has been deployed in Singapore at construction sites and other workplaces.

Based on the visible prospective revenue near term, and the overall commercial momentum during the first half, we have increased confidence in our FY 2021 revenue forecast (unchanged).

 

What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points
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