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Wejo Group Limited (NASDAQ: WEJO) has announced a collaboration with Ford Motor Company in Europe, granting access to personalized connected vehicle data from Ford vehicles. This partnership aims to enhance data-driven insurance solutions, enabling providers to better understand driving behaviors and improve fraud detection. Wejo has collected over 76.7 billion journeys from approximately 13 million connected vehicles, creating significant opportunities for insights in the insurance sector. The collaboration emphasizes Wejo's commitment to monetizing vehicle data responsibly.
Wejo Group Limited (NASDAQ: WEJO) has launched Wejo Labs, a cloud-based platform designed for researchers and data scientists in traffic and mobility studies. This platform allows users to query data from tens of millions of connected vehicles, facilitating insights into road conditions, driving behaviors, and traffic patterns. Users can visualize data outputs through various formats. Wejo Labs is intended to be cost-effective and user-friendly, eliminating the need for expensive infrastructure. It aims to democratize access to connected vehicle data, enhancing smart mobility research.
Wejo announces its new Wejo Autonomous Vehicle Operating System (AV-OS) aimed at revolutionizing autonomous vehicle (AV) development. Leveraging 18.4 billion daily data points from 18.6 million connected vehicles, the platform enables safe and efficient AV testing in a virtual environment. By democratizing access to connected vehicle data, Wejo aims to accelerate AV innovation for automakers and fleet developers. The AV-OS will support simulation, modeling, and real-time data analysis, improving safety and reducing traffic accidents, contributing to a greener world.
Wejo Group Limited has launched a new product, Wejo Historic Traffic Patterns, providing access to granular historic traffic data from millions of connected vehicles across the US. This product enables government agencies, civil engineers, logistics, and real estate developers to obtain insights on travel times, speeds, and more, enhancing planning and decision-making. The data, accessible via API or Wejo Studio, supports urban mobility strategies for both public and private sectors.
Wejo Group Limited (NASDAQ: WEJO) has announced an extension of its collaboration with Microsoft Maps. This partnership aims to enhance Microsoft's mapping capabilities globally by utilizing Wejo's real-time data from approximately 12 million connected vehicles, generating over 16 billion data points daily. This expanded relationship will enable features such as intelligent routing and route optimization, further improving the user experience for millions of Bing Maps users. The connected vehicle data market is expected to reach $61 billion by 2030, highlighting the significance of this collaboration.
Wejo Group Limited has been added to the Russell 3000® Index, effective June 27, following the 2022 reconstitution. This inclusion ranks Wejo among the 3,000 largest US stocks based on market capitalization. As a member, Wejo is automatically placed in either the Russell 1000® or Russell 2000® Index. Approximately
Wejo Group Limited (NASDAQ: WEJO), a leader in Smart Mobility solutions, announced that CEO Richard Barlow and CFO John Maxwell will present at two major conferences on June 7, 2022. They will participate in a Fireside Chat at the 6th Annual Needham Virtual Automotive Technology Conference at 11:00 AM ET and the Baird Global Consumer, Technology and Services Conference at 3:45 PM ET. The discussions will focus on Wejo's expansion into new product lines and the launch of their real-time traffic intelligence solution, Wejo RTTI, aimed at enhancing vehicle and traffic data insights.
Wejo Group Limited (NASDAQ: WEJO) reported a significant 86% increase in Q1 2022 net revenue, reaching $568,000, driven by growth in its Traffic Management product line and a 122% rise in customer numbers year-over-year. Despite a net loss of $40.3 million, a 61% improvement from the previous year, adjusted EBITDA loss was $25.2 million. Gross Bookings surged over 300% to $6.4 million, while Annual Recurring Revenue rose 45% to $4.5 million. Wejo launched a real-time traffic intelligence solution and expanded its partnerships, aiming for over $10 million in net revenue for 2022.
Wejo Group Limited (NASDAQ: WEJO) announced its Q1 2022 financial results, highlighting a 86% increase in net revenue to $568 thousand and a 122% rise in customer numbers compared to Q1 2021. Despite a net loss of $40.3 million, this reflects a 61% improvement year-over-year. The company reported a 300% growth in gross bookings to $6.4 million and a 45% increase in annual recurring revenue (ARR) to $4.5 million. Wejo also launched Wejo RTTI™, a real-time traffic intelligence solution, and signed over 25 new customer agreements.
Wejo Group Limited (NASDAQ: WEJO) is set to report its first quarter 2022 financial results on May 16, 2022, at 8:30 am EDT. A business update call will follow, featuring insights from CEO Richard Barlow and CFO John Maxwell. The call will cover financial results, company strategy, and operational KPIs. Wejo, a leader in cloud and software analytics for connected vehicles, manages data from 11.8 million vehicles and 71 billion journeys worldwide.
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