Inpixon Announces Approximately $2.6 Million in New Orders for Indoor Intelligence Platform During Third Quarter
Recent Orders Evidence How Inpixon's Indoor Intelligence Platform Supports a Wide Range of Use Cases for Organizations Across Many Industry Verticals
PALO ALTO, Calif. and TORONTO, Sept. 14, 2020 /PRNewswire/ -- Inpixon (Nasdaq: INPX), a leading indoor data company that delivers Indoor Intelligence™ solutions, today announced it has received new and additional follow-on orders and subscription renewals with a value of approximately $2.6 million during the third quarter of 2020 to date for the application of its Indoor Intelligence platform across multiple uses cases, evidencing how organizations in varying industries are leveraging the value of indoor intelligence.
Organizations across a variety of industries continue to leverage the full range of capabilities offered by Inpixon's platform to improve operational efficiencies, increase situational awareness, and enhance the safety and security of their indoor spaces through wireless device positioning. New orders this quarter for Inpixon's sensor technology were received for various government agencies and enterprise organizations, including certain industry-leading telecommunications and technology services companies. Inpixon's technology, including its recently launched Workplace Readiness™ Dashboards, Inpixon Pods and Inpixon Mapping, was also recently selected by a Florida-based cognitive wellness clinic, to assist with efficient client processing through the clinic and rapid decontamination of areas within the clinical premises that need it most. In addition, Inpixon's mapping platform was chosen this quarter by companies in the healthcare, pharmaceutical, financial, transportation, retail, and commercial real estate sectors for a variety of purposes including wayfinding and asset tracking.
"Our indoor intelligence solutions are being adopted across industry verticals for a multitude of use cases, and as the uncertainty customers face about returning to work around the world declines, we believe we will see even greater adoption," commented Nadir Ali, CEO of Inpixon. "Since the launch of our 'Reclaim Your Workplace' national advertising campaign, we believe we have increased Inpixon's awareness in the market and that the extensive partner relationships we are establishing in multiple regions of the world will aid in accelerated adoption of our Indoor Intelligence solutions. We look forward to building on these relationships and expanding the scope of services with these customers over time."
Inpixon® (Nasdaq: INPX) is the Indoor Intelligence™ company that specializes in capturing, interpreting and giving context to indoor data so it can be translated into actionable intelligence. The company's Indoor Intelligence platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position active cellular, Wi-Fi, UWB and Bluetooth devices. Paired with a high-performance data analytics engine, patented algorithms, and advanced mapping technology, Inpixon's solutions are leveraged by a multitude of industries to do good with indoor data. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. Inpixon customers can boldly take advantage of location awareness, analytics, sensor fusion and the Internet of Things (IoT) to uncover the untold stories of the indoors. For the latest insights, follow Inpixon on LinkedIn, Twitter, and visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19 on Inpixon's results of operations, the rate of adoption by customers of our solutions, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Inpixon's technology, Inpixon's ability to maintain compliance with Nasdaq's minimum bid price requirement and other continued listing requirements, including during a panel monitoring period ending on February 5, 2021, the ability to obtain financing, competition, general economic conditions and other factors that are detailed in Inpixon's periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
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Released September 14, 2020