PALO ALTO, Calif. and TORONTO - Inpixon (Nasdaq: INPX), a leading indoor data company that specializes in delivering indoor intelligence, today announced it has secured a contract with a new customer to provide indoor maps for more than two dozen shopping centers in Europe and Asia. The contract is expected to generate both up-front professional services revenue as well as recurring software license revenue.
The Inpixon mapping solution will allow consumers to effectively search for and view maps to specific locations within the various shopping centers. Users will be able to identify the parking area closest to their destination and to view maps of multi-level parking garages. The solution will also include Inpixon's unique role-based maps, which will allow employees to view restricted-access back-office areas and destinations, such as non-public pathways, as well as storage rooms, electrical closets and cable access points to enable more efficient operations and facility maintenance. The maps will be available in various languages on iOS and Android devices as well as via web browsers and touchscreen kiosks.
Soumya Das, Inpixon's Chief Operating Officer, commented, "We are pleased to have won this highly competitive bid and to have excelled in the rigorous technical review. I believe Inpixon was chosen due in great part to our ability to scale in order to meet the specifications of a large, global enterprise with numerous venues. While there are other mapping providers that may be able to address the requirements of small and mid-sized organizations, there are few that can scale to handle large implementations. This customer will be able to manage all of their mapped venues through a single, browser-based content management system. The technical review looked at not only our scalability but also multi-language support, and security and privacy attributes. I believe our selection affirms the investments we've made to deliver a high quality enterprise-class indoor data platform. We look forward to working closely with this customer to deliver the contracted solution and to pursuing potential opportunities to add venues and additional use cases as the project progresses."
Inpixon® (Nasdaq: INPX) is an 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 location and data 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 performance of management and employees, our ability to secure opportunities for additional venues, 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.