Zurich, Switzerland – October 29, 2021, 6:00pm CEST – beaconsmind (ISIN: CH0451123589 – Ticker: MLBMD), a SaaS provider in Location-Based Marketing (LBM) for retail chains unveils today its full-year results for the period July 2020 to June 2021, which corresponds to its 2020/2021 financial year. Results are below guidance given during its listing in February 2021 with revenue growth of 56% to CHF780K and negative EBITDA of CHF2.0M.
The core driver for underperformance in revenue growth is the COVID19 pandemic’s impact on beaconsmind’s clients, which led to the postponing of roll-outs of the beaconsmind solution in stores. For the next twelve months, the number of stores expected to be rolled out by beaconsmind’s key clients amounts to several thousands, compared to a currently installed store base in the hundreds. The company is ready to fulfil global project orders in a record time, with an installing capacity of at least 100 stores per week, compared to under 30 at the time of listing in February. This capacity build-up and related increase in operating fixed costs are the main drivers for the increased loss, in addition to the costs of the listing of the company shares on EURONEXT ACCESS market in Paris in February 2021 and the listing on the Vienna Stock Exchange in March 2021.
The company’s salesforce was strengthened during the period and resulted in a record number of new client acquisitions. The company first won the DEPOT account, one of the largest home furniture specialists in the German-speaking countries with over 500 stores across Germany, Austria and Switzerland. Then, beaconsmind won the Roberto Cavalli account, the haute couture fashion house, and Maison-B-More, an established UAE fashion retail group. The company now has a specialised salesforce in place across several retail verticals, with a very strong momentum in the pipeline of potential accounts. This investment in sales was an absolute priority for beaconsmind, as the company aims to move away from a high dependency on one large anchor client and strives to diversify its expected revenue base by expanding in new verticals like department stores, supermarkets/hypermarkets, logistics, culture, and Hotels/Restaurants/Cafes.
Finally, the company expanded its geographical reach by opening an outpost in Dubai, UAE, where it partnered with the Seed Group, a company of The Private Office of Sheikh Saeed Bin Ahmed Al Maktoum, to bring location-based marketing software and solutions for retail chains to the Middle East region. Thanks to this partnership, beaconsmind now has direct access to the companies of the royal family of Dubai, such as Emirates airlines, and the Jumeirah Group, which alone opens potential implementation of beaconsmind’s solution across a significant portfolio of hotels, dining, retail and wellness locations across the Middle East, Europe and Asia. The Seed Group is supporting beaconsmind with market entry facilitation as well as office headquarters and acts as a local sponsor.
Max Weiland, CEO of beaconsmind AG, said “Throughout the period, the number of project orders held-up has been constantly growing.Although I am disappointed that the orders were delayed by our clients because of operational reasons and COVID19, I am delighted by the work performed by our team to prepare their imminent fulfilment. Furthermore, our diversification, both in terms of geographies and client verticals, is already bearing fruit, with a record number of accounts wins in the period in Europe and the Middle East. We are extremely excited about our pipeline and prospects, and look forward to winning some ground-breaking accounts in the coming months.”
Founded in 2015 in Switzerland, beaconsmind is a pioneer in the field of location-based marketing (LBM) software for retail chains. beaconsmind helps retailers run successful location-based marketing campaigns. By fitting stores with bluetooth beacons that precisely locate and identify customers, and by integrating its Software Suite, beaconsmind opens a brand-new channel for retailers to interact with their customers, fundamentally transforming the shopping experience. Thanks to its solution, retailers can converge digital and physical shopping and address the convenience gaps of each.
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