Revenue for the three months ended September 30, 2019 represented a year-on-year increase of 175% versus Q3 2018
Revenue for the nine months ended September 30, 2019 represented a year-on-year increase of 310% versus same period 2018
TORONTO, Nov. 27, 2019 /CNW/ -- SAIS Limited ("SAIS", or the "Company") (TSXv: SAIS), a provider of advanced technology solutions, business intelligence and supporting services announced today its third quarter financial year results for the period ended September 30, 2019.
For the three months ended September 30, 2019, total revenue was US$88,000 – an increase of US$56,000 or 175% compared to US$32,000 for the same quarter the previous year, specific to revenues attributed to its technology business, Kaddra. The nine months ended September 30, 2019, total revenue was US$279,000 – an increase of US$211,000 or 310% compared to US$68,000 for the same period the previous year.
"It has been an exciting quarter for SAIS as we transitioned to become a fully-fledged technology business. Our revenue for the nine months ended September 30, 2019 is in line with our plans as we are taking steps to enhance the sales strategy for our flagship KADDRA platform including appointing Arnaud Elnecave as our Chief Operating Officer. Since coming on board in early September, he has already begun to establish strong sales and production planning to grow the Kaddra business effectively," said Quentin Chiarugi, Chief Executive Officer of SAIS.
Arnaud is already on-boarding our first Asian SME client, Envy Motors, and we are looking toward digitalising the Singapore-based luxury automotive dealership's customer engagement with a custom-built tiered lifestyle ecosystem for their clientele and car enthusiasts. This is the prelude of Kaddra's strategy to become a leader of mobile commerce technology for the vast SME market. Nevertheless, Kaddra is located in Singapore, which is very advantageous given the latest government schemes supporting SMEs to digitalise themselves across every industry. This places Kaddra at the center of the most dynamic region in the world for mobile commerce growth.
Kaddra suite of sales and marketing tools, intended to enable businesses digitalise their Customer Experience, is the result of over two years of research and development by SAIS. The flagship KADDRA platform was awarded Silver in the "Enterprise Product of the Year – Marketing Software" category at the 7th Annual Best In Biz 2019 International, of which results were announced on August 14, 2019.
"This recognition is truly an honour and validates the effort that our team has put in thus far in building a compelling and affordable Digital Transformation solution for SME businesses across a wide range of diverse retail verticals" Chiarugi added.
On September 13, 2019, the Company completed the sale of Sarment, its traditional wine and spirits distribution business, to a private consortium of shareholders. The transaction significantly improved the Company's balance sheet by removing the previous shareholders debts and resulted in a gain on sale of US$13.5 million.
The sale of Sarment has enabled SAIS management to fully dedicate itself to accelerating Kaddra and its Customer Experience Management ("CXM") solutions supported by US$4.0 million of additional shareholders funding since April 1, 2019 of which US$2.5 million will be capitalised.
About SAIS Limited
Singapore-based SAIS is a provider of advanced technology solutions, business intelligence and supporting services. Across our units, we connect businesses with their customers through end-to-end intelligent solutions. A global leader in the development of Customer Experience Management ("CXM") platforms, we are focused on utilising AI to create technology aimed at providing unique digital experiences, and crafted to foster ground-breaking client-customer relationships.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SAIS Limited
For further information: For further information contact: Catherine Human, SAIS Corporate Office, [email protected], (65) 6424 0411