{"id":528531,"date":"2021-08-16T16:09:18","date_gmt":"2021-08-16T20:09:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/inpixon-reports-second-quarter-2021-financial-results-and-provides-corporate-update\/"},"modified":"2021-08-16T16:09:18","modified_gmt":"2021-08-16T20:09:18","slug":"inpixon-reports-second-quarter-2021-financial-results-and-provides-corporate-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/inpixon-reports-second-quarter-2021-financial-results-and-provides-corporate-update\/","title":{"rendered":"Inpixon Reports Second Quarter 2021 Financial Results and Provides Corporate Update"},"content":{"rendered":"
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Reports Net Income of $14.8 Million and a 221% Increase in Revenue Year-Over-Year for the Second Quarter of 2021<\/h2>\n

Conference Call to be Held Today at 4:30 p.m. Eastern Time<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n PALO ALTO, Calif.<\/span>, Aug. 16, 2021<\/span> \/PRNewswire\/ — Inpixon (Nasdaq: INPX), the Indoor Intelligence\u2122 company, today provided a business update and reported financial results for the second quarter of 2021.<\/p>\n

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\n \"(PRNewsfoto\/Inpixon)\"
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\n Nadir Ali<\/span>, CEO of Inpixon, stated, “We continue to make tremendous growth strides, reporting a 221% increase in revenue for the three months ended June 30, 2021<\/span> as compared to the same period last year, in addition to $14.8 million<\/span> in net income attributable to the stockholders of Inpixon primarily resulting from the settlement of a note receivable with equity. As a result of our expanded Indoor Intelligence product offering, we are increasing our SaaS subscription sales, and we are beginning to see higher recurring revenue streams and increases in the average selling price for certain of our products. We have had strong momentum, securing several new customer relationships for our smart office app following the acquisition of The CXApp during the second quarter of 2021. Organizations need to keep pace with the continuously evolving work environment in order to maintain a productive, satisfied and safe workforce. They are seeking simplified and comprehensive workplace solutions that can support hybrid return-to-the-office initiatives and selecting Inpixon to help them create and deliver a connected workplace where employees work in a mix of on-site and remote options. By delivering the best possible workplace experience for employees, one that fosters engagement and collaboration via a unified, user-friendly mobile app, we believe organizations can increase employee retention rates and remain competitive in the market.<\/p>\n

“We are delivering a range of solutions that enhance indoor experiences by allowing our customers to provide smarter, safer and more secure environments. With activity around in-person events restarting including conferences and executive briefings, the need to deliver hybrid event options remains, and our app and events platform is optimized to deliver hybrid and omni-device experiences in a way that we believe other event app vendors don’t provide. We are also delivering solutions for other work environments such as industrial, manufacturing and mining, where heavy equipment and vehicles are in close proximity to one another or people, and determining precise location is critical to ensure the safety of visitors and personnel. Utilization of our chirp and UWB technologies, such as is offered with our recently launched Inpixon Asset Tag and Inpixon Personnel Tag, can deliver increased visibility of people and assets, enhancing safety and resource utilization. Our technology offers a unique performance profile combining high accuracy, long operational range and interference resilience that makes it an excellent choice for a wide range of location and ranging use cases. According to MarketsandMarkets<\/a>, the RTLS market is expected to grow at a CAGR of 24.8% during 2020-2025, and we expect to ride this wave of sharp growth.<\/p>\n

“Overall, we have approximately $70 million<\/span> available to the company as of June 30, 2021<\/span> including approximately $24.9 million<\/span> in cash and an additional $45.3 million<\/span> in short-term investments. With our strong financial position and increasing market awareness, we believe we are well positioned to aggressively penetrate the Indoor Intelligence market with the ability to offer products and solutions to satisfy the range of Indoor Intelligence needs. We are excited and pleased with the momentum we are gaining and look forward to providing updates regarding contract wins, technology enhancements and more as developments unfold,” concluded, Mr. Ali.<\/p>\n

\n Recent milestones:<\/b>\n <\/p>\n