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Overview of BeWhere Hldgs Inc (BEWFF)
BeWhere Hldgs Inc is an innovative Mobile Internet of Things (M-IoT) solutions company specializing in low-power, cost-effective asset tracking and connected sensor technology. Leveraging state-of-the-art cellular technologies such as LTE-M and NB-IoT, the company designs and markets self-powered hardware devices integrated with sophisticated sensors and customizable software applications.
Core Business and Technology
At its core, BeWhere Hldgs Inc develops advanced devices that enable real-time monitoring and remote management of assets. The company primarily focuses on two market areas:
- Asset Tracking: Offering solutions for remote location tracking of non-powered fixed and movable assets including trailers, dry vans, and similar resources. These systems allow users to monitor asset movement and optimize logistics operations.
- Connected Sensors: Enabling remote tracking of environmental and operational parameters such as water pressure, water detection, and soil moisture. This integration of sensors with cloud-based platforms delivers precise, actionable data for improved decision-making.
Technology Integration and Product Capabilities
BeWhere Hldgs Inc stands out by integrating advanced low-power 5G IoT technology into its offerings. The devices are engineered to use cutting-edge connectivity options that transmit data into mobile applications and cloud platforms at significantly lower costs than traditional cellular networks. The solutions can be fully integrated with existing software systems and can be white-labeled, allowing seamless incorporation into broader enterprise ecosystems. The hardware also features location services using GPS outdoors and Wi-Fi for indoor tracking, along with onboard sensors including temperature, air pressure, humidity, light, and accelerometers, which collectively support robust tracking and monitoring functionalities.
Market Position and Industry Relevance
Operating within the rapidly evolving M-IoT sphere, BeWhere Hldgs Inc has positioned itself as a key player in delivering end-to-end remote monitoring solutions. The company’s technology addresses critical cost and power limitations typically associated with traditional tracking systems, thus enabling deployment in environments where previous solutions were not economically viable. Its products have gained recognition through certifications such as AT&T Network Optimized and FirstNet Trusted, further underscoring their reliability and compliance with stringent industry standards.
Competitive Differentiation
The competitive edge of BeWhere Hldgs Inc lies in its ability to deliver sophisticated tracking solutions that are both low-cost and high-function, attributes that are particularly attractive to industries like transportation, logistics, utilities, construction, and public sector organizations. By offering devices that are easy to deploy, energy efficient, and seamlessly integrated with AI-driven data analytics platforms, the company provides its customers with a holistic approach to managing assets and operations. This differentiation is combined with flexible solutions that can adapt to varied enterprise requirements, positioning the company favorably against competitors in the IoT market.
Operational Excellence and Business Model
BeWhere Hldgs Inc's business model is centered on the design, manufacture, and sale of proprietary hardware devices coupled with associated software applications. Revenue is generated through direct sales of devices, subscription models for data services, and options for integrated solutions with third-party software systems. The company emphasizes controlled operating expenses, systematic investment in research and development, and strategic partnerships, which collectively underpin its operational efficiency and ability to scale within a competitive market landscape.
Industry Applications and Use Cases
BeWhere Hldgs Inc’s versatile solutions find application across a diverse range of sectors:
- Transportation & Logistics: Tracking fleets and managing remote assets to optimize routes and reduce operational costs.
- Construction & Utilities: Monitoring equipment and critical infrastructure, ensuring safety and operational continuity.
- Government & Public Sector: Enhancing asset visibility and supporting emergency response through reliable, real-time tracking.
- Environmental Monitoring: Utilizing connected sensors for precise environmental data collection, benefiting agriculture and resource management strategies.
Integration Capabilities and Flexibility
One of the key aspects of BeWhere Hldgs Inc’s offering is its integration capability. The company’s open APIs allow seamless integration with existing enterprise systems. This ensures that even businesses with established software solutions can benefit from enhanced asset management functionalities without the need for extensive system overhauls. The white-labeling options further allow partners to tailor the solutions to fit specific branding and operational requirements.
Conclusion
Overall, BeWhere Hldgs Inc (BEWFF) is a pivotal player in the mobile IoT landscape. Its focus on affordable, innovative, and integrated tracking and sensor solutions addresses critical market gaps by providing a scalable method for asset management and remote monitoring. The company’s commitment to leveraging leading-edge communication and sensor technologies, combined with a flexible business model, underpins its significant industry relevance. This comprehensive approach not only fuels operational success across multiple sectors but also reinforces its standing as a trusted, technologically adept provider in the evolving IoT ecosystem.
BeWhere Holdings (TSXV: BEW) (OTCQB: BEWFF) reported strong financial results for FY 2024, with significant growth across key metrics. Total revenue increased 45% to $17.5M, while recurring revenue grew 36% to $6.9M. The company achieved a record-high annual gross profit of $5.8M, up 26% year-over-year.
Q4 2024 performance showed continued momentum with total revenue up 45% to $4.7M and recurring revenue increasing 51% to $2.0M. The company maintained a healthy working capital of $7.8M, including $4.5M in cash, while investing $330,778 in R&D for next-generation M-IOT sensors. Net income before tax improved 98% to $1.7M for the full year, with Q4 showing an 80% increase to $484,424.
BeWhere (TSXV: BEW) (OTCQB: BEWFF) has partnered with GISCAD Barbados to expand its asset tracking solutions in Caribbean markets. The partnership introduces BeWhere's new LTE Cat1 Bis-based BeSol+ and BeWired+ devices specifically designed for regions where Low-Power 5G networks are not yet available.
GISCAD, with offices in Trinidad & Tobago, Barbados, Jamaica, and Guyana, will leverage its presence across 29 territories in the Caribbean and Latin America. The partnership focuses on shipping, logistics, and high-value asset tracking applications, with expansion plans for additional markets in late 2025.
The new generation Cat-1 bis products operate on existing LTE networks, providing broad coverage and roaming capabilities without requiring infrastructure upgrades. This solution offers immediate deployment, longer battery life, and cost-effective tracking capabilities for Caribbean businesses.
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.
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