PALO ALTO/TORONTO – December 31, 2019 – Inpixon (Nasdaq: INPX), a leading indoor data company that specializes in delivering indoor intelligence, provided the following business update from the Company’s CEO, Nadir Ali:
“As we close out both a very busy 2019 and a decade of innovation, I’d like to reflect on the past year and also take this opportunity to share my vision for the future at Inpixon, especially given all the positive developments.
A Year of Growth
The year 2019 was full of achievements for our team. In February, we were pleased to be named by Gartner, a highly respected technology analyst, in their Magic Quadrant for indoor location services, worldwide. This is a significant recognition of our platform and enhancements, as this past year we focused on interoperability and integration, embracing the power and flexibility offered by open and agnostic systems. This shift further enhanced our ability to ingest data from a variety of different sources, such as point-of-sale systems. This commitment to open architectures and interoperability has also meant that our ecosystem of partners and distributors has grown significantly in the last year, expanding globally across verticals.
Most notably, we also made several strategic acquisitions this year enabling us to build out our technology portfolio, securing new customers and opening up new entry points to our business. In the spring, we acquired Locality Systems, a video analytics technology company whose offering complemented Inpixon’s existing solutions. This addition allows us to offer what we believe is one of the indoor positioning market’s most comprehensive product lines for visitor analytics and physical cyber security. Shortly after, we acquired a GPS technology portfolio, to integrate outdoor GPS with our indoor positioning system. At the end of the summer, we once again expanded our portfolio, this time by acquiring industry-leading indoor mapping company, Jibestream. Many of the use cases we aim to address require geospatial context for location-based services, and dynamic maps are the most intuitive interfaces to achieve these outcomes and make indoor spaces digitally addressable.
Through these acquisitions, we obtained not only industry-leading technology, but also top talent and subject matter experts in the indoor intelligence space, several of whom have stepped into leadership roles at Inpixon where they are now expanding our customer success, engineering, sales, and marketing programs. It was invigorating to see our new, larger team of intelligent and motivated people come together and collaborate enthusiastically at our leadership summit in September, and again for our November hackathon.
In addition to building an exceptional team, these acquisitions have helped us bring together the key components of a comprehensive unified indoor data and location platform. As an indoor data company, we specialize in capturing, interpreting and giving context to indoor data. This unique and powerful combination of unified technologies provides the foundational layer needed to enable people to harness the power of indoor data and is unparalleled in our space. We are committed to innovation and doing good with indoor data and are excited by the opportunities of what can be accomplished when leveraging and giving context to indoor data. With our extensive portfolio of solutions and services, we are positioned to meet our customers where they are on their journey, in order to create actionable indoor intelligence with multiple price and entry points.
It’s an exciting time to be in the indoor intelligence space. The global market for indoor location and analytics is estimated to reach $54.6 billion by 2026 and the landscape is changing quickly. Organizations are increasingly recognizing the wealth of data that lies untapped in their buildings, and we believe that our ability to offer all four of the essential building blocks, intelligent mapping, positioning, analytic services and development tools, required to make information collected from indoor spaces across a multitude of verticals and industries valuable and rich, creates a blue ocean opportunity for Inpixon as currently one of the only companies that can offer this kind of end-to-end solution.
We aim to support these organizations, empowering them to use our platform to give their data meaning, make it useful, and improve safety and experiences indoors. We strive to help our customers create smarter and safer indoor spaces so they can deliver smarter and safer experiences to their customers. It was both gratifying and reaffirming to hear from our customers this year that with our solutions, their employees were physically safer and more secure. As I look ahead to 2020, I am deeply motivated by the desire to continue to protect people and their data, and to use that data respectfully to create exceptional and meaningful indoor experiences.
Moving forward into a new decade, a big focus of ours will be on continuing to innovate with indoor data to expand value for our customers by leveraging artificial intelligence (AI) and big data. Our engineering team is exploring how we can expand our capacity in these areas to allow customers to take advantage of their indoor data in ways that were previously unfathomable. We also recently announced our plans for an Ultra-Wideband (UWB) module to deliver centimeters-level positional accuracy for people and assets.
We intend to focus on unifying and branding our expanding portfolio of offerings. As we start the new year, you’ll notice some changes to our website as we update it to better reflect the new full scope of our solutions. I hope you’ll join the conversation with us on LinkedIn, Twitter, and Facebook as we help organizations uncover what’s possible with indoor intelligence.
Inpixon remains fully committed to building shareholder value, and we believe the foundation we’ve built in 2019, plus our improved cash position due to the $6.5 million we raised this quarter through our ATM facility, will set the stage for a very positive year in 2020 and beyond. We deeply appreciate the support of all of our stakeholders and look forward to the new year.”
Inpixon® (Nasdaq: INPX) is an indoor data company that specializes in capturing, interpreting and giving context to indoor data so it can be translated into actionable intelligence. The company’s indoor location data platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position all active cellular, Wi-Fi and Bluetooth devices, and uses a proprietary process that ensures anonymity. Paired with a high-performance data analytics engine, patented algorithms, and advanced mapping technology, Inpixon’s solutions are leveraged by a multitude of industries to do good with indoor data. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. Inpixon customers can boldly take advantage of location awareness, analytics, sensor fusion and the Internet of Things (IoT) to uncover the untold stories of the indoors. For the latest insights, follow Inpixon on LinkedIn, Twitter, and visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the performance of management and employees, Inpixon’s ability to obtain financing, competition, general economic conditions and other factors that are detailed in Inpixon’s periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
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