With Two New Behavioral Health Customers, the SOBRsure Band is Transforming the Standard for Continuing Care Monitoring
SOBR Safe (NASDAQ:SOBR) has announced agreements with two new behavioral health customers for its SOBRsure wearable bands. One customer is a Texas-based integrative care provider, and the other is a Colorado-based recovery services provider. Both have purchased the wearable bands for client use, citing cost-effectiveness, 24/7 reporting, and passive monitoring as key advantages over traditional breathalyzers. This marks a significant growth for SOBRsafe, which has secured 23 new accounts in 2024, compared to just three in 2023.
- SOBRsafe secured two new behavioral health customers, enhancing market penetration.
- Texas-based and Colorado-based providers purchased SOBRsure wearable bands.
- SOBRsafe secured 23 new accounts in 2024, compared to three in 2023.
- Customers cited cost-effectiveness, 24/7 reporting, and passive monitoring as advantages.
- Customer names were withheld, which may reduce transparency for potential investors.
Insights
SOBR Safe, Inc. has secured new agreements with two behavioral health customers for its SOBRsure wearable band. This agreement signifies a growing market adoption of SOBRsafe’s technology, as the company has increased its new accounts from three in 2023 to 23 in 2024. This upward trend suggests a potential increase in revenue and market share.
From an investor perspective, the key financial metrics to watch will be revenue growth and profit margins. Increased accounts should contribute to both top-line growth and greater economies of scale, potentially improving profit margins. The cost-effectiveness and continuous monitoring offered by SOBRsure are notable differentiators that could bolster long-term client retention and drive recurring revenue streams.
However, investors should consider that the names of the new customers are withheld, which makes it difficult to assess their reputation and market influence. Additionally, while the initial purchases are promising, the long-term success will depend on high adoption rates and sustained client engagement.
Short-term, these new deals likely signal positive revenue trends. Long-term, the ability to consistently secure new contracts and maintain client satisfaction will be important for sustained growth.
The agreement with two new behavioral health providers highlights the market demand for more effective and discreet alcohol monitoring solutions. The SOBRsure band offers continuous monitoring, which can provide more comprehensive data compared to traditional breathalyzers. This positions SOBRsafe well within the growing behavioral health and addiction recovery market, where technology is increasingly used to support patient outcomes.
The cost-effectiveness and 24/7 reporting features are strong selling points, especially given the trend towards integrative care and the need for reliable remote monitoring solutions. As these features resonate with both Texas and Colorado providers, it indicates a broader market potential across different geographic regions and types of care providers.
However, the success of these agreements will depend on the user experience and the accuracy of the SOBRsure bands. Any technical issues or inaccuracies could negatively impact the reputation and adoption of the technology.
In the broader context, SOBRsafe’s continued growth in securing new accounts suggests a positive market reception and a competitive edge, but maintaining this momentum will be essential for long-term success.
Providers Citing Cost-Effectiveness, 24/7 Reporting, Passive Monitoring as Advantages Over Breathalyzers
DENVER, CO / ACCESSWIRE / June 18, 2024 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe"), provider of next-generation transdermal alcohol detection solutions, today announced that it has signed a hardware/software agreement with a two new behavioral health customers1. Both the Texas-based integrative care provider and the Colorado-based recovery services provider have made initial SOBRsure wearable band purchases on behalf of their clients.
Texas Customer - the facility intends to present SOBRsure to clients as a more cost-effective, more discrete option for outpatient monitoring, and one that empowers continuous alcohol insight - not just at occasional points in time.
Colorado Customer - this case manager and interventionist is adding SOBRsure as a new standard tool for 24/7 support in the continuing care process, and believes the price and the inconspicuous nature of the band are ideal for client adoption and ongoing use.
SOBRsafe has now secured 23 new accounts in 2024, compared to three accounts booked in all of 2023.
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1The customers have asked that their names be withheld for patient privacy considerations, a request common to behavioral health and a right to privacy SOBRsafe definitively respects.
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About SOBRsafe™
Alcohol misuse is the fourth leading cause of preventable death in America, and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive and inefficient, unhygienic and unconnected. There has to be a better way.
Enter SOBRsafe™. Our advanced transdermal (touch-based) technology detects and instantaneously reports the presence of alcohol as emitted through a user's skin - no breath, blood or urine sample is required. With a powerful backend data platform, SOBRsafe provides next generation, passive detection technology for the behavioral health, judicial and consumer markets, and for licensing and integration.
The SOBRsafe technology is commercially available for point-of-care screening (SOBRcheck) and continuous monitoring (SOBRsure). At SOBRsafe, we are creating a culture of prevention and support. To learn more, visit www.sobrsafe.com.
Contact SOBRsafe:
IR@sobrsafe.com
Safe Harbor Statement
Our prospects here at SOBRsafe are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
SOURCE: SOBR Safe, Inc.
View the original press release on accesswire.com
FAQ
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