With Two New Behavioral Health Customers, SOBRsafe has Now Secured 20 New Accounts in 2024
Rhea-AI Summary
SOBR Safe (NASDAQ:SOBR) has announced securing 20 new accounts in 2024, a significant increase compared to just three in 2023. The latest clients, Lighthouse Recovery Resources and Mountain House Recovery, have adopted SOBRsafe's transdermal alcohol detection solutions.
Lighthouse, based in Carbondale, Colorado, purchased 10 SOBRsure wristbands to monitor high-risk patients, facilitating faster intervention compared to traditional methods. Mountain House, based in Flagstaff, Arizona, is integrating SOBRcheck point-of-care screening, offering a less stigmatizing and cost-effective solution for their residents.
Positive
- SOBRsafe secured 20 new accounts in 2024, up from three in 2023.
- Lighthouse Recovery Resources purchased 10 SOBRsure wristbands.
- Mountain House Recovery adopted SOBRcheck for less stigmatizing and cost-effective alcohol screening.
- New agreements highlight increased market adoption of SOBRsafe's technology.
Negative
- No detailed financial data provided for the new accounts, raising questions about the revenue impact.
- The press release lacks specific figures on cost savings or efficiency improvements.
- Potential reliance on a small number of new clients for growth, indicating possible revenue concentration risk.
News Market Reaction – SOBR
On the day this news was published, SOBR gained 1.56%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
DENVER, CO / ACCESSWIRE / May 14, 2024 / SOBR Safe, Inc. (NASDAQ:SOBR) ("SOBRsafe"), provider of next-generation transdermal alcohol detection solutions, today announced that it has signed hardware/software agreements with Lighthouse Recovery Resources ("Lighthouse") and Mountain House Recovery ("Mountain House"). SOBRsafe has now secured 20 new accounts in 2024, compared to three accounts booked in all of 2023.
Lighthouse Recovery Resources
Based in Carbondale, Colorado, Lighthouse provides individuals and families with the resources and support they need to achieve lasting recovery. Lighthouse's services include interventions, sober companions and care management. Lighthouse has purchased an initial 10 SOBRsure wristbands to monitor high risk patients 24/7 and actively intercept alcohol use. Lighthouse believes SOBRsure empowers accelerated intervention versus breathalyzers and other traditional testing methods.
Mountain House Recovery
Based in Flagstaff, Arizona, Mountain House provides a post-treatment launching pad where young men in early recovery can forge lasting friendships and embark on a transformative journey in sobriety. Mountain House offers a comprehensive approach to healing, blending evidence-based therapies, holistic practices, and singular outdoor excursions. Mountain House is integrating SOBRcheck point-of-care screening in its residential facility to replace breathalyzers, providing all residents a more humane and less stigmatizing testing solution. Mountain House also views SOBRcheck as a cost reduction measure - the technology enables 24/7 unmanned alcohol screening at check-in/check-out, eliminating an administrative expense.
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About SOBRsafe™
Alcohol misuse is the fourth leading cause of preventable death in America, and the seventh worldwide. Yet prevention and monitoring solutions have not kept pace with this epidemic. Legacy technologies are invasive and inefficient, unhygienic and unconnected. There has to be a better way.
Enter SOBRsafe™. Our advanced transdermal (touch-based) technology detects and instantaneously reports the presence of alcohol as emitted through a user's skin - no breath, blood or urine sample is required. With a powerful backend data platform, SOBRsafe provides next generation, passive detection technology for the behavioral health, judicial and consumer markets, and for licensing and integration.
The SOBRsafe technology is commercially available for point-of-care screening (SOBRcheck) and continuous monitoring (SOBRsure). At SOBRsafe, we are creating a culture of prevention and support. To learn more, visit www.sobrsafe.com.
Contact SOBRsafe:
IR@sobrsafe.com
Safe Harbor Statement
This announcement includes forward-looking statements within the meaning of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward-looking statements include the information concerning our possible or assumed future results of operations set forth under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements also include statements in which words such as "expect," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used.
Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions. Our future results and shareholder values may differ materially from those expressed in these forward-looking statements. Readers are cautioned not to put undue reliance on any forward-looking statements.
SOURCE: SOBR Safe, Inc.
View the original press release on accesswire.com
FAQ
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Which new clients did SOBRsafe sign agreements with in May 2024?
What technology did Lighthouse Recovery Resources adopt?
What technology did Mountain House Recovery integrate?
What benefits does Mountain House Recovery expect from using SOBRcheck?
