Inpixon Reports Recent Purchase Orders of Industrial IoT Solutions Supporting a Variety of Customers, Geographies, Use Cases and Distribution Channels

Rhea-AI Summary

Inpixon (Nasdaq: INPX) reported an influx of new purchase orders for its Industrial Internet of Things (IIoT) products since Q3 2022, with key contracts from major sectors including electronics distribution, government, and healthcare. Notable achievements include a purchase order for real-time location solutions to enhance safety in underground mining and additional contracts with prominent energy and health organizations. Inpixon's CEO highlighted increased demand, expecting momentum to continue, while the CTO emphasized the importance of automated visibility in improving operational compliance and safety.

Positive

• Secured multiple new purchase orders across diverse sectors, indicating strong demand for IIoT solutions.
• Partnership with top electronics distributors enhances market reach for IIoT products.
• Contracts with governmental and healthcare sectors demonstrate trust in Inpixon's technology.
• Increased revenue growth in IIoT business line with multi-year contracts and expanded opportunities.

Negative

• None.

Company Also Sees Increase in IIoT Sales Pipeline and Forecasted Demand

PALO ALTO, Calif., Oct. 11, 2022 /PRNewswire/ -- Inpixon® (Nasdaq: INPX), the Indoor Intelligence® company, today announced that the company has secured numerous new purchase orders since the beginning of the third quarter of 2022 with leading organizations to implement its Industrial Internet of Things (IIoT) products and services.

Contract Updates:

• Secured a purchase order with one of the largest electronics distributors in the world, whereby Inpixon's IIoT platform and UWB tags are now available for streamlined purchasing through this worldwide channel.
• Secured a purchase order through Inpixon collaboration partner Schauenburg Systems to implement Inpixon's IIoT solutions for a customer to incorporate real-time location awareness into their collision avoidance systems for increased underground mining safety.
• Secured a purchase order with a U.S. government agency to expand the use of Inpixon's wireless device detection and security applications for enhanced security of facilities.
• Secured purchase orders for additional solutions in three countries with a leading global energy products and services company, to implement Inpixon's IIoT products for asset tracking and to enhance business operations. This customer will also begin a pilot program utilizing Inpixon-provided BLE mesh network technology to track high-value assets within a large manufacturing site.
• Secured additional purchase orders with a national health organization related to their existing implementation of Inpixon's IIoT applications which aid in locating staff and creating a safer work environment. Inpixon's solutions are deployed in areas that support and control building systems.
• Secured additional purchase orders with multiple, large mining-equipment manufacturers for RTLS components for their collision avoidance and proximity awareness solutions to optimize mining operations and improve worker safety.

"We are witnessing increased demand for our IIoT solutions, which we believe further validates our strategic decision to acquire INTRANAV late last year," commented Nadir Ali, CEO of Inpixon. "We are proud and excited to witness this growing interest in our products for implementation, as well as pilot programs that have the potential to lead to long-term contracts with recurring revenue streams. Our goal is to provide customers with the appropriate solutions to build smarter industrial operations. Through the implementation of our technologies, our customers experience enhanced safety, improved business operations, and location-aware solutions that provide comprehensive transparency across the organization. We believe the traction we are seeing, evidenced by these contracts, demonstrates our ability to deploy effective solutions for the industrial market, and we expect this momentum to continue."

Adam Benson, chief technology officer of Inpixon, added, "Creating automated visibility that triggers real-time alerts and actions is vital to assist organizations in identifying, preventing, and responding to threats. With our IIoT platform, we help organizations improve compliance efforts and power a multitude of use cases such as collision avoidance, employee mustering, evacuations, worker searches, and more. In addition, by leveraging location aware applications, organizations boost productivity resulting in optimization of industrial processes. Our solutions harness location data and context to help organizations make smarter and more informed business decisions. We are pleased to have secured these contracts and believe this traction will continue to grow."

Chris Wiegand, Inpixon's executive vice president of revenue operations, stated, "We are seeing an increase in revenue growth within our IIoT business line in recent months. Importantly, we are not only obtaining significant multi-year contracts but also expanded contract opportunities with existing customers. Specifically, we believe these contracts demonstrate our successful track record within the industrial market."

About Inpixon

Inpixon® (Nasdaq: INPX) is the innovator of Indoor Intelligence®, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. The company's Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. For the latest insights, follow Inpixon on LinkedIn, and 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 impact of COVID-19, global conflicts, inflation and other global events on Inpixon's results of operations and global supply chain constraints, Inpixon's ability to integrate the products and business from recent acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Inpixon's technology, Inpixon's ability to maintain compliance with Nasdaq's minimum bid price requirement and other continued listing requirements, the ability to obtain financing if needed, 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.

Inpixon Contacts

General inquiries:
Inpixon
Email: marketing@inpixon.com 
Web: inpixon.com/contact-us

Investor relations:
Crescendo Communications, LLC

Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com

 

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SOURCE Inpixon

FAQ

What recent developments has Inpixon (INPX) announced regarding its IIoT solutions?

Inpixon announced new purchase orders for its IIoT products, indicating increased demand across sectors.

Which sectors are showing interest in Inpixon's (INPX) IIoT products?

Inpixon's IIoT solutions are being adopted in sectors like electronics, government, mining, and healthcare.

How is Inpixon (INPX) expanding its market presence?

The company has secured contracts through partnerships with leading distributors and governmental agencies.

What does Inpixon (INPX) expect from its recent IIoT contracts?

Inpixon anticipates continued momentum and recurring revenue streams from its growing IIoT contracts.