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About BeWhere Holdings Inc. (BEWFF)
BeWhere Holdings Inc. (TSXV: BEW, OTCQB: BEWFF) is a cutting-edge Mobile Internet of Things (M-IoT) solutions provider specializing in the design and sale of self-powered hardware equipped with advanced sensors and software applications. The company serves two primary markets: Asset Tracking and Connected Sensors. Its innovative solutions cater to industries such as logistics, construction, utilities, transportation, healthcare, and government, addressing critical challenges in real-time monitoring, operational efficiency, and cost management.
Core Business Areas
- Asset Tracking: BeWhere’s devices enable remote location tracking of non-powered, movable, and fixed assets such as trailers, dry vans, and construction equipment. These devices utilize advanced positioning technologies like GPS and Wi-Fi for indoor and outdoor tracking.
- Connected Sensors: The company offers solutions for monitoring environmental and operational conditions, including water pressure, soil moisture, temperature, and air quality. These sensors provide actionable insights for industries like agriculture, utilities, and environmental management.
Technology and Innovation
BeWhere leverages the latest cellular technologies, including LTE-M and NB-IoT, to transmit data to cloud-based platforms and mobile applications. This approach significantly reduces costs compared to traditional cellular networks, making IoT solutions accessible to a broader range of customers. The company's devices are equipped with onboard sensors and offer features like geofencing, motion detection, and environmental monitoring. Additionally, its products are designed for seamless integration with existing software platforms, enabling white-label and customizable solutions.
Market Position and Competitive Advantage
Operating in the rapidly expanding IoT market, BeWhere distinguishes itself through its focus on low-cost, power-efficient devices and its ability to provide end-to-end solutions. The company collaborates with Fortune 500 enterprises, resellers, and installers to deploy its solutions globally. Partnerships with industry leaders like AT&T and certifications such as Network Optimized (NO) and FirstNet Trusted further enhance its market credibility. By addressing cost and power challenges, BeWhere expands the scope of assets that can be connected, driving the adoption of IoT technologies across diverse sectors.
Recurring Revenue Model
In addition to hardware sales, BeWhere generates recurring revenue through its software services. Customers benefit from subscription-based access to its cloud platform, which provides real-time data visualization, analytics, and management tools. This dual revenue stream supports the company’s financial stability and growth potential.
Research and Development
BeWhere places a strong emphasis on research and development, continuously innovating to meet market demands. Recent advancements include the integration of AI for hardware optimization and the development of low-power 5G IoT solutions. These innovations position the company as a leader in addressing the evolving needs of the IoT market.
Environmental and Operational Impact
By enabling real-time tracking and monitoring, BeWhere’s solutions contribute to enhanced operational efficiency, reduced waste, and improved resource management. The company’s solar-powered devices and focus on low-energy consumption align with global sustainability goals, making its offerings particularly relevant in today’s environmentally conscious market.
Conclusion
BeWhere Holdings Inc. represents a compelling investment opportunity in the IoT sector, offering innovative, cost-effective solutions that address critical challenges in asset tracking and environmental monitoring. Its commitment to technological excellence, strategic partnerships, and sustainable practices positions it as a significant player in the global IoT landscape.
BeWhere Holdings (TSXV: BEW) (OTCQB: BEWFF) has released a new industry whitepaper co-authored with GSMA Foundry highlighting the transformation of global asset tracking through 5G-satellite integration. The report reveals that the integrated satellite-IoT devices market is projected to reach $10 billion in annual revenue by 2030, with 2-3 billion IoT devices ready for satellite integration out of 38 billion total devices.
The whitepaper, titled 'Smart Logistics 2025,' details how tracking devices can now switch between multiple networks including Bluetooth, Wi-Fi, LTE-M, NB-IoT, and satellite. These devices feature advanced sensors for monitoring temperature, handling conditions, impact events, and inventory levels, incorporating solar charging for satellite transmission power demands.
According to GSMA intelligence, by 2032, approximately 68% of 57.7 million satellite IoT units will utilize 5G or standard protocols. The technology addresses connectivity gaps in 75% of the world's geographic regions, enabling new business models across industries.
BeWhere Holdings (TSXV:BEW)(OTCQB:BEWFF) has announced the acquisition of a US-based IoT installation and logistics services company for USD600,000. The deal includes USD250,000 in cash and 690,141 common shares at CAD0.71 per share (USD350,000). The target company reported USD1.2 million in revenue and USD170,000 in net income (unaudited) for the trailing twelve months.
The acquisition will establish BeWhere's wholly-owned US subsidiary, enhancing its capability to provide local installation and logistics services to its growing US client base. The transaction awaits final TSX Venture Exchange approval.
Additionally, BeWhere appointed Peter Wilcox to its Board of Directors. Wilcox, currently Director of Technical Product Management at Bell Canada, brings extensive telecommunications expertise, particularly in 5G, IoT, and enterprise digital transformation.
BeWhere Holdings reported record-breaking financial results for Q3 2024, with total revenue reaching $5,030,356, marking a 64% increase year-over-year. The company's recurring revenue grew by 33% to $1,717,274, while operating income rose 57% to $532,660. Working capital stood at $7,252,145, with cash balance of $4,810,367. Adjusted EBITDA improved by 35% to $665,450. The company successfully shipped a record number of devices and expects continued growth following the launch of its next-generation devices.
BeWhere Holdings has announced it will release its financial results for Q3 2024 on November 20, 2024. The company's recent quarterly performance shows consistent growth, with total revenue increasing from $3.07M in Q3 2023 to $4.32M in Q2 2024. Gross profit has also shown steady improvement, rising from $1.25M to $1.41M over the same period. Net profit has fluctuated but demonstrated overall growth, reaching $387,787 in Q2 2024, compared to $284,662 in Q3 2023.
BeWhere Holdings Inc. (TSXV: BEW) (OTCQB: BEWFF) reported its highest ever quarterly revenue and earnings for Q2 2024, with a 40% revenue growth and 13% earnings margin. Key highlights include:
- Total Revenue: $4,320,672 (40% YoY increase)
- Recurring Revenue: $1,660,689 (32% YoY increase)
- Gross Profit: $1,411,263 (31% YoY increase)
- Net income before taxes: $558,892 (510% YoY increase)
- Working capital: $6,768,741
- Cash balance: $4,780,030
- Adjusted EBITDA: $566,317 (118% YoY improvement)
The company demonstrated strong growth across all key metrics while controlling operating expenses and investing in R&D for next-generation M-IoT devices.
BeWhere Holdings (TSXV: BEW, OTCQB: BEWFF), a prominent M-IoT company, will release its financial results for Q2 2024 on August 22, 2024. The results cover the three and six months ending June 30, 2024. Over the last four quarters:
Total Revenue: Q2 2023: $3,086,441, Q3 2023: $3,075,102, Q4 2023: $3,217,734, Q1 2024: $3,500,137.
Gross Profit: Q2 2023: $1,077,677, Q3 2023: $1,250,649, Q4 2023: $1,247,052, Q1 2024: $1,343,332.
Net Profit: Q2 2023: $80,517, Q3 2023: $284,662, Q4 2023: $93,908, Q1 2024: $210,379.
The company highlights Adjusted EBITDA as a non-IFRS measure, useful for operating comparisons, though not superior to IFRS net income. The reconciliation of Adjusted EBITDA to IFRS profit (loss) is in the Management's Discussion and Analysis for the period ending December 31, 2023.
BeWhere (TSXV: BEW) (OTCQB: BEWFF), a leading Mobile Internet of Things company, has secured a major follow-up order exceeding 16,000 low-power 5G IoT asset trackers from a global Fortune 100 shipping and logistics company. This expansion follows a successful winter implementation that demonstrated a 15% savings in operational budget for peak season activity.
The company has also engaged A F Parker Consulting, led by telecom marketing veteran Andrew Parker, to support marketing activities and promote BeWhere's innovative mobile tracking solutions. Additionally, BeWhere has granted 200,000 stock options to two independent directors at an exercise price of $0.45 per share, expiring on July 12, 2029.
BeWhere Holdings announces plans to repurchase up to 5% of its issued and outstanding common shares through a Normal Course Issuer Bid (NCIB) starting June 7, 2024, and ending June 6, 2025. The company believes its current market price underestimates the true value of its shares. As of May 31, 2024, BeWhere had 87,231,111 issued and outstanding shares, translating to a maximum repurchase of 4,361,555 shares. If shares acquired under the current NCIB reduce outstanding shares to 84,052,762, the repurchase target would drop to 4,202,638 shares. Purchases will occur through TSX Venture Exchange facilities at market prices, with Beacon Securities handling transactions. All repurchased shares will be canceled, pending regulatory approval.
On May 16, 2024, BeWhere (TSXV: BEW, OTCQB: BEWFF), a Mobile Internet of Things (M-IoT) company, announced that its new suite of devices has received Network Optimized (NO) and FirstNet Trusted certification from AT&T. These certifications include the BeSol+, BeWired+, BeTen+, and BeMini products, which provide real-time asset tracking and inventory management for various enterprises. The AT&T certification ensures that these devices meet criteria for SIM and RAN compatibility, user experience, and security readiness. These certifications position BeWhere and AT&T's combined offerings as a leading solution in the U.S. The products support diverse applications, from tracking outdoor assets like dry vans to monitoring medical equipment. BeWhere's cloud-based platform enhances tracker management with features such as geofencing, motion alerts, and temperature reports. The company highlights the significance of these certifications in validating the quality of their technology and expanding their market reach.
BeWhere Holdings (TSXV: BEW, OTCQB: BEWFF) announced its Q1 2024 financial results, showcasing its 13th consecutive quarter of positive net income.
Total revenue increased by 31% year-over-year, reaching $3.5 million. Recurring revenue saw a 28% year-over-year rise, totaling $1.5 million. Gross profit also improved by 27% to $1.34 million.
Net income before taxes surged by 185%, amounting to $401,269. The company's working capital stood at $6.18 million, with a cash balance of $4.32 million.
Additionally, the company granted 150,000 options at an exercise price of $0.375 per share to two independent directors and the CFO, expiring in May 2029.
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