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Galaxy Next Generation (OTCQB:GAXY) announced a strategic partnership with A3 Communications, enhancing their presence in the educational technology market. A3, ranked #8 among U.S. systems integrators, aims to support Galaxy's growth with comprehensive integration services. This partnership leverages A3's national coverage and expertise in IT and physical security solutions, crucial for expanding Galaxy's product distribution, particularly in K-12 education, which constitutes 90% of its sales. The collaboration is positioned to foster mutual growth and better service delivery.
Galaxy Next Generation (OTCQB:GAXY) will present at the MicroCap Rodeo Windy City Roundup and LD Micro Main Event XV investor conferences. CEO Gary LeCroy and CFO Magen McGahee will provide on-site presentations and engage in investor meetings. The Windy City Roundup is scheduled for October 12-13, 2022, in Chicago, with the presentation on October 12 at 11:00 AM CT. The LD Micro Main Event runs from October 25-27, 2022, in Los Angeles, featuring Galaxy's presentation on October 25 at 6:30 PM ET.
Galaxy Next Generation (OTCQB:GAXY) will participate in a webinar titled "Safe and Sound - Systematic Communication Strategies for Ensuring School Safety", hosted by eSchool News on October 6, 2022. The event features Todd Eddy, Chief Revenue Officer, and Brent Thrasher from Overton County Schools, discussing the G2 Secure system. The webinar aims to enhance school safety through effective communication strategies and is free to attend. CEO Gary LeCroy highlights the importance of the G2 Secure in securing campuses and improving alerts and communication with first responders.
Galaxy Next Generation reports a record $3.9 million in revenues for FY 2022, marking a 4% increase year-over-year. The company anticipates at least 50% revenue growth to $6 million in FY 2023. Operational improvements led to a narrowed operating loss of $4.7 million, down 23% from the previous year, while net loss decreased 74% to $6.3 million. With a 22% reduction in total liabilities, the company is expanding into new markets and launching innovative products, strengthening its foothold in the education technology sector.
Galaxy Next Generation (OTCQB:GAXY) has received a follow-on purchase order from the Lamar County School District for G2 Interactive panels for an additional 130 classrooms. This order builds on prior installations from 2019 and 2020, indicating strong customer retention and potential for revenue growth. CEO Gary LeCroy emphasized their focus on expanding opportunities in the K-12 education market and nurturing existing customer relationships. Lamar County serves around 2,800 students across its schools.
Galaxy Next Generation, Inc. (OTCQB:GAXY) will hold its fourth quarter and annual fiscal year 2022 earnings results conference call on September 23, 2022, at 9:00 a.m. Eastern Time. The call will feature CEO Gary LeCroy and CFO Magen McGahee discussing the quarterly results for the period ending June 30, 2022, and addressing shareholder inquiries. Notably, Galaxy serves primarily the K-12 education market, comprising nearly 90% of sales. Interested parties can register for the call through the provided link and submit questions via email.
Galaxy Next Generation has appointed Todd Eddy as the new Chief Revenue Officer to spearhead sales and marketing initiatives. With over 20 years of experience, Eddy aims to enhance revenue growth and customer satisfaction, particularly in the K-12 education sector, which accounts for 90% of Galaxy's sales. Eddy previously held significant roles in various organizations, focusing on Pro AV, IT technology, and security markets. His expertise is expected to position Galaxy as a leader in these segments, driving expansion and strengthening the company's market presence.
Galaxy Next Generation (OTCQB:GAXY) has secured a $750,000 contract for interactive panels from the Dalton Public School District in Georgia. The CEO, Gary LeCroy, emphasized the company's sales momentum and expanding presence in key markets as contributors to this win. This contract marks a significant step toward modernizing the district's educational technology. With a focus on K-12 education, Galaxy's products cater to nearly 90% of their sales. The Dalton school district serves over 7,000 students and aims to provide world-class learning opportunities.
Galaxy Next Generation (OTCQB:GAXY) has secured a renewal contract for its G2 Communicator from the Colorado Springs School District for a third consecutive year. This cloud-based communication solution enhances flexibility, allowing alerts and messages to be sent from any internet-enabled device within the school district. The Boulder Valley School District, a leader in academic excellence, serves 31,000 students across 56 schools. CEO Gary LeCroy emphasized the importance of this partnership, highlighting long-term functionality and commitment to delivering effective communication solutions.
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