Welcome to our dedicated page for IIOT-OXYS news (Ticker: ITOX), a resource for investors and traders seeking the latest updates and insights on IIOT-OXYS stock.
IIOT-OXYS, Inc. specializes in developing and marketing engineered products, software, and services for industrial internet applications. Based in Cambridge, Massachusetts, the company focuses on creating hardware, software, and algorithms for monitoring and predicting conditions in various sectors such as energy, structural, agricultural, and medical applications.
Recently, IIOT-OXYS, Inc. completed a successful Proof of Concept (POC) and secured a Software as a Service (SaaS) contract with a Northeast CNC Component Manufacturer. The company's IIoT data collection, Predictive Analytics, and proprietary AI & Machine Learning algorithms significantly improved productivity and reduced downtime for the manufacturing partner. With a strong focus on Industry 4.0, IIOT-OXYS, Inc. is poised for further growth and expansion in various manufacturing verticals, driving revenue and customer satisfaction.
IIOT-OXYS, Inc. (OTC PINK: ITOX) reported a remarkable financial performance for the year ending December 31, 2022, with revenues exceeding the previous year by more than seven-fold. This marks the highest annual revenue since the pandemic's impact. Notably, second-half revenue surpassed that of the first half, and fourth-quarter revenue exceeded the third quarter, indicating a strong growth trend.
Key contributors to this growth included a six-figure bridge monitoring contract with a state's Department of Transportation and a successful CNC Proof of Concept in Smart Manufacturing. Cost management was effective, with a 17% reduction in operating expenses and a 47% reduction in professional expenses. The company anticipates continued revenue growth in 2023, supported by strategic partnerships and an expanding market, particularly in smart manufacturing and structural health monitoring sectors.
IIOT-OXYS, Inc. (OTC PINK: ITOX) provided a business update on April 11, 2023, highlighting strong revenue for Q1 2023, marking the fourth consecutive quarter of growth. CEO Cliff Emmons stated that 2023 revenue is expected to surpass 2022 levels, with details to follow in the upcoming SEC filings. Key growth drivers include:
- Continued revenue from the DOT Bridge Monitoring project.
- Positive results anticipated from the Smart Manufacturing CNC Proof-Of-Concept, expected to yield a SaaS contract.
- New collaborative contracts and additional prospective projects.
IIOT-OXYS, Inc. (OTC PINK:ITOX) announced a positive business update for the quarter ending December 31, 2022. The company reported consecutive quarter-over-quarter revenue growth, with total 2022 revenue surpassing that of 2020 and 2021 combined. Highlights include securing a Smart Manufacturing Proof of Concept (POC) contract, progress in the DOT Bridge Monitoring project, and new agreements in business development. The CEO, Cliff Emmons, anticipates continued revenue growth in 2023, expecting to exceed 2022 figures. The Smart Manufacturing market is projected to grow significantly, indicating potential for IIOT-OXYS's future initiatives.
IIOT-OXYS, Inc. (OTC PINK:ITOX) has signed a Non-Disclosure Agreement (NDA) with a leading Indian Engineering Services firm aimed at enhancing its Smart Manufacturing business vertical. This partnership is expected to facilitate collaborative contracts and business development opportunities, particularly in the Medical Device sector, targeting small and medium enterprises. The Smart Manufacturing market, valued at $64.9 billion in 2021, is projected to grow at a CAGR of 20.6%, reaching $165.5 billion by 2026. Oxys anticipates that this strategic alliance will bolster its growth and revenue in the upcoming fiscal year.
IIOT-OXYS, Inc. (OTC PINK:ITOX) has entered into a non-exclusive Distributor Agreement with ElastiSense ApS to utilize their sensor technology for Structural Health Monitoring and Smart Manufacturing. The global Smart Manufacturing market is projected to grow from $64.9 billion in 2021 to $165.5 billion by 2026, while the Structural Health Monitoring market is expected to double from $2.0 billion in 2021 to $4.0 billion by 2027. The partnership aims to enhance productivity and efficiency through the integration of advanced sensor technologies in various applications.
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