Sobr Safe Inc Stock Price, News & Analysis

SOBR Safe (Nasdaq:SOBR) has announced a partnership with Think Twice, a provider of public safety products, to promote its SOBRcheck technology. With 79 alcohol detection sales reps now engaging over 15,000 established customers, the initiative aims to replace traditional breathalyzers. SOBRcheck offers a more hygienic and efficient alcohol detection method, assessing alcohol through fingertip sweat without the risks associated with breathalyzers.

Think Twice serves various sectors, including occupational safety and medical fields, and plans to advocate for SOBRsafe's technology to enhance workplace safety. This collaboration is expected to expand SOBRsafe's market reach, providing preventative solutions across multiple industries. The annual cost of alcohol abuse in the U.S. is approximately $249 billion, highlighting the significance of this technology.

On April 20, 2023, SOBR Safe (NASDAQ:SOBR) announced CEO Dave Gandini's interview at the Nasdaq MarketSite, focusing on expanding alcohol detection solutions. SOBRsafe's technology, SOBRcheck™, offers a hygienic method of alcohol detection via fingertip contact, eliminating the need for breath or blood samples. This innovation, recognized as the 2022 New Product of the Year in Safety Monitoring Devices, addresses a significant issue, with alcohol abuse costing the U.S. $249 billion annually. The company aims to implement its solutions across various industries, including commercial fleets and rehabilitation programs, promoting a culture of prevention. Their patent-pending system is designed to enhance safety and accountability, with immediate corrective action facilitated by cloud-based reporting.

SOBR Safe (NASDAQ:SOBR) has expanded its distribution network by signing an agreement with the Fox Group, its 13th North American distributor. The Fox Group specializes in commercial driver training and has established connections with major employers in key markets, including oil and gas, mining, and trucking. This collaboration is aimed at enhancing safety with SOBRsafe's alcohol detection technology, SOBRcheck™, which detects alcohol through a fingertip touch.

The U.S. alcohol abuse cost is approximately $249 billion annually, with significant implications for safety in industrial environments. SOBRsafe's technology is a preventative solution for dangerous workplaces and aims to reduce alcohol-related accidents.

SOBR Safe, Inc. (NASDAQ:SOBR) has announced a SaaS agreement with Foundry Treatment Center in Colorado to deploy SOBRcheck™, a touch-based alcohol screening solution for inpatient treatment. This non-invasive technology simplifies sobriety confirmation, enhancing rehabilitation efforts. With around 240 specialized treatment centers in Colorado and approximately 14,500 across the U.S., SOBRsafe aims to be a key player in the rehabilitation market. The company also secured a pre-order for 1,150 SOBRsure™ bands, expanding its outpatient offerings. The annual cost of alcohol abuse in the U.S. is $249 billion, showcasing a significant market opportunity for SOBRsafe’s innovative solutions.

SOBR Safe, Inc. (NASDAQ:SOBR) announced its financial results for the year ending December 31, 2022, highlighting a significant capital raise of $19.5 million amid challenging market conditions. The company's cash position improved to $8.6 million, while total stockholders' equity rose to $9.1 million. SOBRsafe has engaged over 10,000 companies through its sales pipeline efforts, yielding over 600 leads. The company is focused on expanding into key markets, including fleet, oil and gas, and justice. Despite increased operational costs, the company anticipates gross margins to rise from 45% to approximately 80% as sales scale up.

SOBR Safe, Inc. (NASDAQ:SOBR) announced that TerraTech Services, a major player in oil and gas, is gaining a competitive advantage by using SOBRcheck technology for daily alcohol screenings across its 17 US locations.

The Denver Business Journal highlighted how this proactive safety measure aligns with industry needs, especially given that oil and gas has the highest binge drinking rates among US workers, at 26% in extraction roles. The adoption of SOBRcheck not only improves employee safety but also appeals to large clients like Occidental Petroleum.

SOBRsafe's innovative technology provides real-time alcohol detection without invasive sampling, marking a significant advancement in workplace safety.

SOBR Safe, Inc. (NASDAQ:SOBR) announced a significant SaaS partnership with the Fox Group, a leader in North American commercial driver education. The Fox Group will implement SOBRcheck™ alcohol detection technology in select Canadian locations and aims for broader adoption across its training organization of over 3,500 employees. This collaboration is anticipated to enhance safety standards in the trucking industry. SOBRcheck™, a touch-based alcohol detection system, has gained significant recognition within the industry, promoting a culture of prevention. Notably, the annual cost of alcohol abuse in the U.S. is $249 billion, emphasizing the importance of such innovations.