ProStar Announces Record Revenue in Q2 and Achieves a Major Milestone with 100th SaaS Client
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) announced record revenue in Q2 and achieved a major milestone with its 100th SaaS client. The company signed 27 new customers in Q2, representing an 18.5% sequential growth from Q1 and 900% YoY growth from Q2 2023. ProStar's customer base now includes several multinational construction companies, with six having over $1 billion in annual revenue.
Notable new clients include PCL (Canada's largest construction company), Walsh, and Haskell. The company has reduced operational overhead by up to 40% YoY and shifted focus to being sales-centric, aiming for profitability. ProStar targets signing another 100 cloud customers in the next 12 months.
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) ha annunciato entrate record nel Q2 e ha raggiunto un importante traguardo con il suo 100° cliente SaaS. L'azienda ha firmato 27 nuovi clienti nel Q2, rappresentando una crescita sequenziale del 18,5% rispetto al Q1 e un crescita del 900% anno su anno rispetto al Q2 2023. La clientela di ProStar ora include diverse multinazionali del settore costruzioni, con sei aziende che registrano oltre 1 miliardo di dollari di entrate annuali.
I nuovi clienti notevoli includono PCL (la più grande azienda di costruzioni del Canada), Walsh, e Haskell. L'azienda ha ridotto i costi operativi fino al 40% anno su anno e ha spostato l'attenzione su un approccio orientato alle vendite, mirando alla redditività. ProStar punta a firmare altri 100 clienti cloud nei prossimi 12 mesi.
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) anunció ingresos récord en el Q2 y alcanzó un hito importante con su cliente SaaS número 100. La empresa firmó 27 nuevos clientes en el Q2, representando un crecimiento secuencial del 18.5% con respecto al Q1 y un crecimiento del 900% interanual en comparación con el Q2 de 2023. La base de clientes de ProStar ahora incluye varias empresas multinacionales de construcción, con seis de ellas generando más de 1 mil millones de dólares en ingresos anuales.
Los nuevos clientes destacados incluyen a PCL (la mayor empresa de construcción de Canadá), Walsh y Haskell. La empresa ha reducido sus costos operativos en hasta un 40% interanual y ha cambiado su enfoque a uno centrado en las ventas, con el objetivo de ser rentable. ProStar tiene como objetivo firmar otros 100 clientes en la nube en los próximos 12 meses.
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF)는 2분기 기록적인 매출을 발표하고 100번째 SaaS 고객을 달성했습니다. 회사는 2분기에 27개의 신규 고객과 계약을 체결했으며, 이는 1분기 대비 18.5% 성장과 2023년 2분기 대비 900%의 연간 성장을 나타냅니다. ProStar의 고객 기반은 이제 여러 다국적 건설 회사들을 포함하고 있으며, 그 중 여섯 개는 연간 매출이 10억 달러를 초과합니다.
주요 신규 고객으로는 PCL (캐나다 최대 건설회사), Walsh, Haskell이 있습니다. 회사는 운영 비용을 연간 최대 40%까지 줄였으며, 수익성을 목표로 판매 중심으로 초점을 전환했습니다. ProStar는 향후 12개월 동안 추가로 100개의 클라우드 고객을 유치할 계획입니다.
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) a annoncé des revenus records au T2 et a atteint une étape importante avec son 100ème client SaaS. L'entreprise a signé 27 nouveaux clients au T2, représentant une croissance séquentielle de 18,5% par rapport au T1 et une croissance de 900% d'une année sur l'autre par rapport au T2 2023. La clientèle de ProStar inclut désormais plusieurs multinationales du secteur de la construction, dont six ont des revenus annuels dépassant 1 milliard de dollars.
Parmi les nouveaux clients notables figurent PCL (la plus grande entreprise de construction du Canada), Walsh et Haskell. L'entreprise a réduit ses coûts opérationnels jusqu'à 40% d'une année sur l'autre et a déplacé son attention vers une approche axée sur les ventes, visant la rentabilité. ProStar prévoit de signer 100 nouveaux clients cloud au cours des 12 prochains mois.
ProStar Holdings Inc. (TSXV: MAPS) (OTCQX: MAPPF) hat Rekordumsätze im Q2 verkündet und einen bedeutenden Meilenstein mit seinem 100. SaaS-Kunden erreicht. Das Unternehmen hat im Q2 27 neue Kunden gewonnen, was einem Wachstum von 18,5% im Vergleich zum Q1 und einem Wachstum von 900% im Jahresvergleich zum Q2 2023 entspricht. Der Kundenstamm von ProStar umfasst nun mehrere multinationale Bauunternehmen, von denen sechs über 1 Milliarde Dollar Jahresumsatz erzielen.
Zu den bemerkenswerten neuen Kunden gehören PCL (Kanadas größtes Bauunternehmen), Walsh und Haskell. Das Unternehmen hat die Betriebskosten um bis zu 40% im Jahresvergleich gesenkt und den Fokus auf Verkaufsorientierung verschoben, mit dem Ziel der Rentabilität. ProStar plant, in den nächsten 12 Monaten weitere 100 Cloud-Kunden zu gewinnen.
- Record revenue achieved in Q2
- Signed 27 new customers, representing 18.5% sequential growth from Q1 and 900% YoY growth
- Reached 100th SaaS client milestone
- Customer base now includes multinational construction companies, with six having over $1 billion in annual revenue
- Reduced operational overhead by up to 40% YoY
- Shifted focus to being a sales-centric company, paving path to profitability
- None.
GRAND JUNCTION, Colo., July 23, 2024 (GLOBE NEWSWIRE) -- ProStar Holdings Inc., (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00), a world leader in Precision Mapping Solutions®, is pleased to announce that the Company signed a record number of new clients in Q2, and signed its 100th SaaS (Software as a Service) client.
Message from CEO, Page Tucker:
Dear Fellow Shareholders,
I am pleased to report that we realized consecutive record quarters following our Q1 achievement in terms of the number of new client signings. With consecutive record-breaking quarters, we are seeing clear signs that a digital transformation is occurring in the infrastructure industry, and as a result, the adoption of our solution, PointMan is accelerating.
- We signed 27 new customers in Q2 representing an
18.5% sequential growth from Q1 and900% YoY from Q2 2023 - Our customer base now includes several multinational construction companies, six of which have over
$1 billion in annual revenue - We signed our 100th cloud customer and have a target to sign another 100 in the next 12 months
Several of our Q2 customer signings are recognized industry leaders providing ProStar tremendous validation and increased exposure throughout the entire infrastructure construction industry in both North America and around the world.
- PCL - Canada’s largest construction company with 7.6B in annual revenue.
- Walsh - Consistently listed among the largest contractors in the United States with over 6B in annual revenue.
- Haskell - Operates across the US, Latin America, and Asia and has
$2B in revenue in commercial and industrial markets.
Our patented solution has now evolved into a fully developed and mature product. With the heavy lifting of research and development now behind us, we reduced our operational overhead by as much as
As we enter the second half of year, my confidence in ProStar’s future has never been stronger. I would like to thank our shareholders for your ongoing support and look forward to our continued growth and creating shareholder value.
About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface.
ProStar’s PointMan is offered as a Software as a Service (SaaS) and has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and their dealer networks. The Company has made a significant investment in creating a vast intellectual property portfolio that includes 16 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines.
For more information about ProStar, please visit www.prostarcorp.com.
Contact:
Page Tucker
CEO & Founder
ptucker@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR + on April 21, 2023, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR + at www.sedarplus.ca.
FAQ
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