Tekumo Announces 218% YoY Growth in Q3 2024 Results
Rhea-AI Summary
Tekumo (TKMO) reports strong Q3 2024 financial results with 218% year-over-year revenue growth reaching $2,884,632 for the first three quarters of 2024, compared to $1,320,616 in 2023. The company's trailing twelve months revenues increased to $4,283,956 from $1,680,298. Gross profit surged 238% to $1,869,494 while maintaining a 35% gross profit margin. Operating expenses as a percentage of revenue decreased by 16%. The company's TekumoPRO platform connects field service technicians with clients in real-time, offering installation, monitoring, and maintenance services for technology systems and smart connected devices.
Positive
- Revenue growth of 218% YoY to $2.88M in first three quarters
- Gross profit increase of 238% to $1.87M
- Maintained strong 35% gross profit margin
- Operating expenses as percentage of revenue decreased 16%
- Trailing twelve months revenue grew to $4.28M from $1.68M
Negative
- None.
News Market Reaction – TKMO
In the trading session that priced this news, TKMO gained 200.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New York, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Tekumo Inc. (TKMO or the "Company") announces its preliminary results for Q3, 2024.
Revenue for the first three quarters of 2024 increased
Tekumo Managed Services (TMS) continues to add significant breadth to our growing base of clients. Tekumo’s Chief Revenue Officer, Derrick Youngblood, stated “Our clients and prospects are looking to rapidly scale their technology driven businesses, not their bench of employees and contractors. They are interested in capturing actionable data on one platform that seamlessly integrates with their existing Field Service Management (FSM) systems. Our service platform, TekumoPRO, connects field service technicians, whether W2 or 1099, directly to our clients, in their existing environment, in real time. The flexibility to integrate and the depth of real time data is a game changer.”
“The TekumoPRO platform is really the future of work” says Tekumo CEO, Strings Kozisek. “We connect businesses with skilled and vetted local technicians and manage the entire service delivery process. Our robust analytics engine provides real-time data into financials, service metrics, and all measured KPIs in a way that does not exist in the industry today. Tekumo is extending our offering to include self-managed, assisted insourcing, and fully managed work orders, all backed with authentic data intelligence. We intend to fundamentally change how people are managed and how devices are installed, monitored and maintained.”
We encourage you to read our interim financial statements and notes for the quarter ended September 30, 2023, filed November 13 with OTC Markets.
CORPORATE OVERVIEW
The Company offers a field services delivery platform that solves the "last-mile" of installing, monitoring, and maintaining technology systems and smart connected devices. Distributed real-time data is at the core of all Tekumo offerings.
We play at the intersection of two major trends: the “Uber-ization” of product and service delivery, and the explosion of AI driven smart connected devices brought about by the “Industrial Internet of Things” (IIoT). Our Service Delivery platform is designed to intelligently automate the installation and maintenance of products by offering On-Demand local technician resources, as well as providing a “smart interface” for the monitoring and management of connected devices.
This service platform caters for a broad range of technologies from POS systems, kiosks, digital menu boards, print services, cameras, cabling, Wi-Fi and networking, as well as smart homes devices, wearable sensors, and access control.
Our platform results in “less people, less time and less cost” for our customers.
When we discuss our strategy, plans, future financial and operating performance, or other things that have not yet taken place, we are making statements considered to be forward-looking statements under United States (US) securities laws. Please see the disclosure relative to forward-looking statements at the base of this discussion.
About Tekumo, Inc.
Tekumo, Inc (OTC: TKMO) is an alternative reporting publicly held company that wholly-owns Tekumo LLC.
Safe Harbor:
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Colorado Springs
Phillip Dignan, President & CFO
719-419-6709
Investors@Tekumo.com
