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Dragontail Systems Limited (ASX: DTS) is a company from the IT sector, engaged in optimizing restaurant operations, reported accelerated growth in the installations, which resulted in a substantial increase in the cash receipts in March 2019 quarter as compared to the previous quarter.
The cash receipt in the March quarter was ~ 250% higher than the cash receipt in the December quarter. The company also highlighted that the results obtained in the March quarter are the strongest ever quarterly performance by the company.
On 2 April 2019, Dragontail Systems Limited highlighted that in the month of March 2019, its monthly rate of installation expansion was over 300 locations. The group also achieved a new record of 32 installations in a single day. DTSâs two flagship products ALGO Dispatching platform as well as Artificial Intelligence QT Camera were rolled out during the period.
Recently, Dragontail Systemsâ flagship product, Artificial Intelligence QT Camera received approval for the patent in the USA by USPTO. This patent is also a significant achievement for the company, and the company have provided the details of it on 23rd March 2019.
In the month of February 2019, the product of Dragontail Systems was installed in over 300 new stores. This illustrated the potential pace of DTS to increase the installations on a monthly basis.
For the year ended 31 December 2018, Dragontail Systems achieved significant milestones.
- Pizza Hut Canada selected Algo" and the âAlgo Lightâ platforms as the brand standard solution for its stores in Canada.
- DTS also received a purchase order of over $1.2 million for initiating the rollout plan across Australia and New Zealand market.
- DTS completed the first nationwide roll out of the Algo Dispatching System in all Pizza Hut across Singapore.
- Recipe Unlimited Corporation implemented the first independent Algo Light platform with remote control from Dragontail.
- DTS entered into a strategic agreement with Jubilant FoodWorks Limited, the master franchise for Dominoâs Pizza in India with 1,134 stores along with the master franchise for Dominoâs Pizza in other locations such as Sri Lanka, Nepal and Bangladesh and Dunkinâ Donuts (India).
- Pizza Hut decided to implement the products of the company across 280 stores in Australia.
- DTS launched the Total Technology Solution in North America that contained "Algo" platform as well as the POS system. It also contains the online and mobile ordering sales platform.
- DTS entered into a collaboration agreement with Weezmo Technologies Ltd, which will help the company to reduce the costs of integration with POS companies significantly.
In another report, the group has confirmed that the fully paid ordinary shares of 32,500,000, being the shares placed with Tiger Global Investments in October 2018, will be released from escrow on 11 April 2019. The company, by the end of the FY2018, generated total revenue of US$1,154,178. However, as a result of increased operating expenses, the company incurred a net loss of $7,041,539. The balance sheet of the company reported a net asset base of $4,004,979.
In the last one month, the stock of DTS generated a return of 34.38%. DTS closed the day trade at A$0.235 (As on 10 April 2019), up by 2.174% as compared to its previous day closing price. Dragontail has a market capitalisation of A$57.04 million with approximately 248 million outstanding shares.
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