PALO ALTO, Calif. - Inpixon (Nasdaq: INPX), the Indoor Intelligence™ company, today announced that Inpixon Mapping has been selected by one of the world's premier pharmaceutical companies to provide the visualization required for tracking its critical COVID-19 vaccine-related assets. Inpixon Mapping is currently contracted for deployment in multiple facilities utilized by this company, which specializes in the development of medicines and vaccines across a wide range of disciplines, and multiple additional locations are anticipated to be added over the coming weeks and months.
Inpixon Mapping will be used to view the location of tagged assets on a dynamic, multi-layered map in near real-time within this pharmaceutical company's facilities. The terms of the customer agreement include both one-time professional services revenue, as well as recurring revenue associated with the mapping platform license.
Nadir Ali, CEO of Inpixon, commented, "We are proud that our mapping platform was selected by this leading pharmaceutical company to provide the visualization required for tracking vital assets as part of the effort to combat the COVID-19 pandemic. This most recent contract serves as a prime illustration of how our technology can assist in addressing critical supply chain requirements.
"Our Indoor Intelligence solutions continue to attract the attention of leading organizations, and we are rolling out our solutions in some of the most recognized companies in the world. We appreciate the trust and confidence each of these companies has placed in our technology and our team. Of particular note, the opportunity to provide our mapping solution for this pharmaceutical company's COVID-19 vaccine-related work, which is so critically important to all our lives and to help eradicate the pandemic, is a great honor for our company."
Inpixon's Indoor Intelligence platform is a comprehensive solution for indoor positioning, mapping, security and analytics. Additionally, the platform's Workplace Readiness™ dashboards facilitate contact tracing, social distancing and targeted cleaning to help enterprises create safer workplaces.
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, Inpixon's ability to integrate the products and business from recent acquisitions into its existing business, 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.