Intrinsyc Achieves Record Annual Revenue in 2018

Intrinsyc Technologies (TSX:ITC) on Thursday announced preliminary unaudited revenue of US$7.1 million (C$9.4 million) for the fourth quarter of 2018 and US$25.7 million (C$33.4 million) in annual revenue.

As quoted in the press release:

“I am very pleased with the Company’s performance in 2018 and the accomplishment of record revenue,” stated Tracy Rees, Chief Executive Officer, Intrinsyc. “The revenue achievement in 2018 is a continuation of our strong and steady compound annual revenue growth rate (CAGR) of 26.4%, from 2014 – 2018. Our growing portfolio of advanced computing modules for high-performance IoT products has been a substantial catalyst leading to an expanded client base and increased revenues.” 

Intrinsyc provides comprehensive product development services, as well as the industry’s highest-performance production-ready computing modules, to enable rapid commercialization of embedded and Internet of Things (“IoT”) products.

Intrinsyc plans to release audited financial information for the fourth quarter and full-year 2018 on March 14, 2019. Final audited revenue results may vary slightly from the above preliminary results.

Intrinsyc has successfully delivered over 1,300 client projects including sophisticated consumer and industrial IoT products like: robotics, connected cameras, smart displays, augmented reality, smart buildings, wearables, in-vehicle infotainment, and many others.

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