Software Technology company, Skyfii Limited (ASX: SKF) announced that it had signed an initial 12-month contract with the San Francisco Museum of Modern Art (SFMOMA).
The contract will involve the deployment of Skyfii’s ‘IO Platform’ services, ‘IO Connect’ and ‘IO Insight’. SFMOMA is 1 of the pre-eminent museums in the USA, committed to making art a vital and meaningful part of public life, with more than 170,000 square feet of art-filled public space. SFMOMA plays host to beyond 1 million visitors annually, in what is the nation’s largest museum of modern and contemporary art.
The partnership with SFMOMA follows a compelling and challenging trial period which saw the ‘IO Platform’ tested across the museum’s vast and expansive gallery spaces. Importantly, the trial sought to understand whether the ‘IO Platform’ could support SFMOMA in their quest to understand better how visitors interact with the venue and gallery spaces.
Using the ‘IO Insight’ product, staff were able to depict and understand the travel paths, dwell time and visitation patterns of customers entering and exiting the venue. It has helped address and better develop an understanding of the experience visitors have within the museum, powering thinking around the installation of artworks.
The company has also released a copy of the presentation which is to be presented by Wayne Arthur, Chief Executive Officer, Skyfii, at Emergence Conference held in Brisbane on 25-26 February and going to be held in Sydney on 28 February and 1 March 2019. The company mentioned details about its products as follows:
The IO Platform consists of:
–Connect: Data collection (It collects and consolidate multiple data-sources including Customer data capture, Progressive profiling and Custom user experience) and data services.
–Insight: Data analytics (It enables data-driven decision making for development, operations and marketing outcomes from Venue reporting and Visitor Flow) and marketing services.
–Engage: Marketing tools (It is an omnichannel data-driven marketing toolset. The Email, SMS and push notification like Proximity marketing).
The data and market services mentioned above delivers actionable research outcomes through the fusion of digital and behavioural data to empower data-driven marketing practices and strategy.
Track record & Outlook
FY2018: The company accelerated revenue growth through a strong market position with global channel partners & clients directly. It also delivered a pathway to EBITDA breakeven.
FY2019: The company intends to focus on revenue pipeline from ANZ & international operations with the continued top line and recurring revenue growth and maintain full-year positive EBITDA.
FY2020: The company will enhance shareholder return by consolidating market-leading position, extending data source aggregation and Cash flow breakeven.
FY2021: The company is aiming towards becoming the global leader in data analytics & marketing services in a physical environment. It also aims to be the largest provider by revenue and market capitalisation globally.
Recurring revenues are produced from ongoing subscription fees for access to Skyfii’s SaaS ‘IO’ platform services of Connect, Insight & Engage.
Services revenue is generated from the payment of projects undertaken by both DCS and MS divisions, including revenues generated from customers of the Causely (US) business. Revenues generated from services are collected as either recurring or fixed fee projects.
Non-recurring revenues are produced from the deployment of hardware and infrastructure, implementations and upfront setup fees, which underpin recurring revenues.
FY2018 Financial performance:
The company noted Diversified revenue through strong growth in recurring revenue by 68% year-on-year basis. All revenue-generating activities underpinned the sell-through of the skyfii-IO platform.
Australia contributed 61.3% of the revenue generated with the international operations contributing 38.7%.
The operational focus areas include innovation and expansion of IO Platform, increasing the share of wallet from the existing customer base, increasing new customer subscriptions to the IO Platform, expand the company’s services offering into international operations and accelerate growth through acquisition.
On 5 February 2019, SKF announced that it had signed a three- year contract with Somerset County Cricket Club (Somerset CCC) to deploy its SaaS recurring revenue ‘IO Platform’ services across their stadium.
On 7 February 2019, Wayne Arthur (Chief Executive Officer) and John Rankin (Chief Operating Officer) provided Q2 FY2019 results.
On 13 February 2019, Skyfii notified that it had signed a 3-year contract with heading large format retail landlord, Home Consortium in Australia.
At the closure of the trading session, the stock of the company stood at A$0.150 (as at 26 February 2019), up by 7.143% from its previous close.
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