An Australia based pioneer of Truly Intelligent Buildings, Quantify Technology Holdings Limited (ASX: QFY) is a company that has created simple to install, affordable Internet of Things devices (IoT) that automate homes, offices and buildings. The company’s products provide the building blocks to enable a future in the rapidly growing Internet of Things (IoT) space.
Quantify Technology released its ‘Company Presentation’ on 21 May 2019, that focussed on the investment highlights, FY2019 achievements, QFY’s financial outlook, its competitive positioning and its past agreements.
On the Investment front, the company recently entered into a three-year agreement with Harvey Norman Commercial Division (“HNCD”) under which HNCD committed to issue a stocking order for $500,000 for the next six months. With this agreement, Quantify Technology’s outstanding purchase orders reached a total of $1.2 million.
Besides, a $736,000 Purchase Order was received by QFY in September 2018 from Wallaroo Shores for the supply of 100 residential, retirement and commercial lots. The contract is expected to generate over 2 million dollars in revenue over the life of the development.
A leading Taiwanese manufacturer, CASwell Inc. was appointed by Quantify Technology on 2nd May 2019 to manufacture the Company’s products for both the Australian and International markets, and the first production is expected to be delivered to Australia in July 2019.
Amazon and Google rely on companies like Quantify Technology for a truly automated home experience. Quantify Technology has already received certification for its Amazon Alexa ‘skill’ and will work with Google Home smart speakers in late 2019.
The products offered by Quantify Technology are simple, innovative & limitless. They are easy to use and control, allow massive time savings, installed in innovative places and has limitless scalability.
Initially, the company would focus on the domestic residential market, and it will expand overseas and into the commercial space later in the year. On the global front, the sales are expected to begin with Taiwan and China, and the company is planning to enter the U.S. market in 2020.
The company has already achieved patent protection in 11 countries, and the patents are currently pending in another 54 countries.
On 10th May 2019, the company also signed an agreement with Limitless Automation Pty Ltd under which Limitless will take charge of distributing the company’s products in Western Australia.
Earlier, in the half-yearly report announced by the company on 28th Feb 2019, the company reported an increase in revenue by 257.7 per cent to $37,307 for the half-year period ending 31st December 2018.
The outlook of the company’s revenue and household penetration in 2019 is mentioned in the table below:
The company’s stock was trading flat at A$0.008 (As on 22st May 2019, 12:30 PM AEST). Also, around 70,000 number of shares were trading on the Australian Securities Exchange. The company has a market capitalisation of A$7.8 million, with circa 974.99 million outstanding shares. The stock has given a negative return of 75% in the last twelve months period. However, its YTD return stands at 14.29%.