Affluence Corporation Announces Record 2022 Revenue
Affluence Corporation (AFFU) reported record revenue of $1,463,099 for FY 2022, a 185% increase from $513,673 in 2021. The company also achieved a 38% revenue growth in Q4 compared to Q4 2021, with an improved gross margin of 5% year-over-year. CEO James E. Honan, Jr. highlighted significant expansion in the customer base and strategic partnerships globally, contributing to the enhanced Smart City Software solutions that incorporate AI and SaaS options. Looking ahead, the preliminary results for Q1 2023 are projected to double compared to the previous quarter, with a sales pipeline five times larger than last year. The company has established key partnerships with Dell Technologies, Orange Business Services, and others, indicating strong future growth potential.
- FY 2022 revenue reached $1,463,099, a 185% increase.
- Q4 2022 revenue grew by 38% year-over-year.
- Gross margin improved by 5 points versus 2021.
- Strategic partnerships established with Dell Technologies and Orange Business Services.
- Sales pipeline increased by 500% compared to last year.
- Preliminary Q1 2023 results expected to double Q4 2022.
- None.
OAK BROOK, IL / ACCESSWIRE / April 17, 2023 / Affluence Corporation (OTC PINK:AFFU) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for 2022 and Q4 with record revenue for FY 2022. Highlights include:
- Revenue growth of
185% year over year - Year over year gross margin improvement of 5 points
- Q4 Revenue growth of
38% vs. Q4 2021
"2022 was a year of firsts for Affluence Corporation and we experienced growth in all aspects of our business. We significantly expanded our customer base, developed major partnerships all over the world and continued to enhance the world's premier Smart City Software solution by incorporating AI technology and offering customers a SaaS option," said James E Honan, Jr., CEO of Affluence Corporation. "I am extremely proud of our team and delighted to announce record revenue growth for 2022. Full year 2022 revenue of
"The OneMind Technologies team over performed in every facet of our business," said Stephane Eyme, Global CEO of OneMind Technologies. "Our focus in 2022 was to continue to leverage our partnership model to grow through strategic partnerships. To that end, in addition to already established partnerships with Orange Business Services (NYSE:ORAN), who granted us with their Best Partner Award for IMEA 2022, we entered into a world-wide strategic partnership with Dell Technologies (NYSE:DELL) and regional partnerships with INJAZAT in the Middle East, BESTEL in Mexico and Central America, GLOBE in South America and STEE in Singapore. We are currently engaged with all of our partners in multiple on-going sales opportunities for 2023. Our sales pipeline has never been larger and continues to grow and we expect to be announcing sales in each geography, including the US. In 2022 our development team strengthened an already industry standard software offering by adding AI capabilities and we introduced a new platform version named OneMind-NG which includes SaaS capabilities among many other added technology enhancements. Additionally, with our technology partner CORSIGHT we jointly configurated a market offering based on both products to combat auto theft and carjackings. This new product is currently being evaluated in uses cases in the US. Our professional services team continues to deliver against a contract for the world's largest smart city project in Saudi Arabia," said Eyme.
About Affluence Corporation
Affluence Corporation (AFFU.PK) is a diversified technology company focused on smart city software and innovative solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. For more information go to https://affucorp.com
About OneMind Technologies SL
OneMind Technologies SL is a wholly owned subsidiary of Affluence Corporation. The OneMind Intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as systems of systems, OneMind connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. The OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to https://www.onemindtechnologies.com
For further information contact Affluence Corporation Investor Relations at 720-295-6409.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.
SOURCE: Affluence Corporation
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