3tl Technologies Sales Orders Grow by over 100% in 2017

3tl Technologies (TSXV:TTM) has announced that sales orders for itsPLATFORM³ Software as a Service (SaaS) has grown more than 100 percent for the seven month period ended July 31, 2017, compared to the same period in 2016.
As quoted in the press release:

• Approximately $ 1.2 million in agreements signed as of July 31, 2017, compared with approximately $0.57 million during the same period in 2016
• 75% of the Company’s 2016 customers have renewed or signed new agreements for 2017
• The 2017 agreements are with leading consumer packaged goods companies (about 83% U.S. and 17% Canada)

In 2016, 3tl had revenues of $665,728 comprised of 38 mostly short-term license agreements to enable digital shopper marketing promotions for leading U.S. based consumer packaged goods (“CPG”) companies.  The success of these promotions in 2016 has resulted in strong sales growth in 2017 due to repeat business and a trend to longer-term licence agreements.  The Company estimates that over 80% (about $1 million) of the $1.2 million in agreements signed as of July 31will be recognized revenues this year.   Accordingly, in the first seven months of 2017, 3tl has signed agreements that are estimated to result in revenues over 50% greater than the full year of 2016.
In 2016, PLATFORM³ was used to host promotions where consumers were rewarded via their mobile devices for buying products in retail stores and online, watching videos, completing surveys and sharing brand friendly content on their social networks.   CPG companies are using PLATFORM³ to influence buying decisions and to collect consumer data that can be used for targeting consumers based on past purchases, brand interactions and demographics.

Click here to read the full press release.