Intrinsyc Reports Record Revenue in Annual Results

Intrinsyc Technologies (TSX:ITC) announced fourth quarter and fiscal 2018 year-end results, reporting record annual revenue figures. The company reported $33.4 million in revenue and $2.5 million in record EBITDA. Intrinsyc Technologies principal operations are advanced computing models and IoT for products including robotics, augmented reality and connected cameras.

As quoted in the press release:

“We finished 2018 on a strong note, successfully executing on our strategic business plan, and achieving record full-year results,” said Tracy Rees, Chief Executive Officer, Intrinsyc Technologies Corporation.  “I’m especially pleased to see the 33% revenue growth from our embedded computing modules. Intrinsyc’s computing modules are sold on a repeat basis to companies building a variety of Internet of Things products that require advanced intelligence and connectivity, and they are a key driver for our future growth. Further facilitating growth, we developed and introduced eight (8) new products in 2018 and increased our design wins from 45 to 59.  In February, we announced the engagement of ROTH Capital Partners, LLC (“ROTH”) as a financial advisor with a mandate to accelerate strategic growth opportunities for the Company. We will be participating in their conference from March 18-19, 2019. Last year, the ROTH Conference hosted more than 4,700 attendees, including institutional investors, analysts, family offices and high net worth investors.”

Click here for the full press release.