TrackX Holdings Reports a 79% Year-over-Year Increase in Recurring Revenue for the Three Months Ended March 31, 2018
Summary
Expansion of the TrackX solution to the 9th location for one of the largest companies in the food services industry; Enterprise-wide expansion across four manufacturing and distribution facilities for a U.S.-based, US$1 billion annual revenue, baked goods company; Successful installation of GAME for a leading provider of portable toilet rental services with over 100 depot locations across the U.S.; Announced a partnership with DENSO Products and Services Americas to provide asset tracking and management solutions to the automotive industry; Signed agreement for GAME deployment for a US$5 billion in annual revenue global manufacturer of high-quality, high-performance motorized recreational and utility products; Continued deployment of GAME to the first 7 of 14 contracted locations for one of the largest insurance companies in the industry.“We are pleased with continued recurring revenue growth and positive adjusted EBITDA,” said TrackX President and CEO Tim Harvie.TrackX will host a conference call to provide a business update and discuss its fiscal Q2 2018 financial results today, April 23, 2018 at 5pm Eastern Daylight Time.TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage and brewery, hi-tech, agriculture, manufacturing and government.The Company disclaims any intention or obligation to update or revise any forward-looking statements in this news release, whether as a result of new information, future events or otherwise, except as required by law .