NameSilo Technologies' Reach Systems Expands Operations Following Strong Growth in Bookings*
Reach Systems shows triple-digit bookings growth, expanded facilities and workforce, and initial traction for new hydrophone-array winch products.
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Rhea-AI Summary
NameSilo Technologies (NTCEF/URL, URLOF) reports that year-to-date bookings* at its marine-technology subsidiary Reach Systems have reached approximately $2.2 million, up from about $1.06 million a year earlier, an increase of roughly 108%.
To support the larger order book, Reach will expand its operating space from 3,559 to 8,031 square feet effective October 1, more than doubling its footprint and adding manufacturing, assembly and testing capacity. Headcount has risen from 17 employees at the February 13, 2026 acquisition closing to 24, an increase of about 41%. Reach has shipped a new winch system worth approximately US$105,000 to a European customer, expects to ship a second to the United Kingdom, and has delivered three smaller winch systems to Sensor Technology in Canada, including one successfully demonstrated at the REPMUS maritime exercise in Portugal. NameSilo also granted 50,000 stock options to an officer, exercisable at $1.42 for five years.
Positive
- Reach bookings* approximately $2.2M year-to-date vs. ~$1.06M, up about 108%
- Facility expansion from 3,559 to 8,031 sq ft effective October 1
- Workforce growth from 17 to 24 employees since February 13, 2026 (+~41%)
- New winch system sale about US$105,000 to a European customer
- Additional deployments of three smaller winch systems to Sensor Technology in Canada
- Product validation via successful winch system demonstration at REPMUS exercise in Portugal
Negative
- None.
News Explained
The reported bookings are secured customer-order values rather than IFRS revenue, and the release says they should not alone be treated as indicators of cash flow or profitability.
AI-generated analysis. How Rhea-AI works. Not financial advice.
CSE: URL / OTC: URLOF
Reach Systems' Year-to-Date Bookings* Increase
Reach continues to experience strong demand across its marine technology product portfolio. Year-to-date bookings* have reached approximately
To support its growing order book and future production requirements, Reach is expanding its operating space from 3,559 square feet to 8,031 square feet, effective October 1. The expansion will more than double the company's existing footprint and provide additional manufacturing, assembly and testing capacity to accommodate future growth.
Reach has also expanded its team significantly since being acquired by NameSilo. At the February 13, 2026 closing date of the transaction, Reach employed 17 people. Its workforce has since grown to 24 employees, an increase of approximately
"Reach has made excellent progress since joining NameSilo," said Paul Andreola, Chief Executive Officer of NameSilo Technologies. "Bookings have more than doubled compared with the same period last year, the team has grown substantially, and the expansion of our operating space provides the additional capacity needed to support the company's growing opportunity pipeline. Our investment in Reach is beginning to bear fruit, and we remain encouraged by its long-term growth prospects."
Reach is also seeing increasing activity in products supporting hydrophone-array systems used in underwater acoustic sensing and monitoring applications. The company recently shipped a newly developed, first-of-its-kind winch system valued at approximately
Reach also recently delivered three smaller winch systems to Sensor Technology Ltd. in
Based on current customer discussions, Reach anticipates receiving additional orders for its hydrophone-array equipment from customers in
"The growth we are seeing reflects the strength of Reach's engineering team and its ability to develop specialized products for demanding marine applications," added Paul Andreola, CEO of NameSilo. "The successful deployment of our equipment at REPMUS provides valuable real-world validation and further demonstrates Reach's potential within the growing market for underwater sensing and unmanned maritime systems."
The Company also announces that it has granted 50,000 options to an officer of the Company. The options are exercisable at
About NameSilo Technologies Corp. and NameSilo LLC
Namesilo Technologies invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. Namesilo does not invest on behalf of any third party and it does not offer investment advice.
Namesilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, Namesilo is one of the fastest-growing domain registrars in the world with approximately 6.4 million active domains under management from approximately 160 countries.
About Reach Systems
Reach Systems, based in
About SewerVue Technologies
SewerVUE Technologies, has pioneered large-diameter pipe inspection technology with innovations such as pipe-penetrating radar and multisensor inspections to ensure their partners and clients have reliable, comprehensive data to make proper and well-informed decisions when it comes to maintaining critical infrastructure. Using multi-sensor tools such as LiDAR, sonar, HD-CCTV and pipe-penetrating radar, SewerVUE provides high-quality data to help customers assess and maintain critical infrastructure.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements.
*Non-IFRS Financial Measure
Readers are cautioned that "bookings" are measures not recognized under IFRS. Bookings represent the value of customer orders secured during the period and should not be interpreted as revenue recognized under applicable accounting standards. Revenue is recognized as products are manufactured, delivered and accepted in accordance with the terms of each customer contract. Bookings provides useful insight into the Company's operating performance on a yearly basis. "Bookings" do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "bookings" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
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SOURCE NameSilo Technologies Corp.
FAQ
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How does NameSilo define Reach Systems’ year-to-date bookings*?
Bookings* represent the value of customer orders secured during the period. They are not revenue under IFRS; revenue is recognized as products are manufactured, delivered and accepted in line with each contract. The company notes that bookings are a non-IFRS measure and may not be comparable to similar metrics used by other issuers.
When does Reach Systems’ facility expansion take effect and what is its scale?
The operating space expansion is effective October 1. Reach’s footprint will increase from 3,559 to 8,031 square feet, more than doubling available space for manufacturing, assembly and testing.
What are the terms of the new stock options granted by NameSilo Technologies?
The company has granted 50,000 options to an officer. Each option is exercisable at $1.42 per share and has a term of five years from the date of issue.