CALGARY, Alberta, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Trakopolis IoT Corp. (TSXV:TRAK) ("Trakopolis" or the "Company") is pleased to announce a 42% growth in monthly recurring revenue (MRR) from December 2016 to December 2017. MRR, on an annualized basis, for December 2017 was $4.80 million, an increase of $1.42 million from the December 2016 annualized MRR of $3.38 million. The December 2017 annualized MRR also represents an increase of $0.53 million, 15%, over the September 2017 annualized MRR of $4.16 million. Higher prices for subscriptions for new products contributed to MRR growth as expected.

“Anticipated traction with new products contributed to substantial MRR growth in the last 2 quarters of fiscal 2017,” stated Brent Moore, CEO of Trakopolis. “Significantly higher subscription prices for new products are expected to increase average revenue per unit (ARPU) and does not include financed or leased hardware. This further illustrates that we are executing our growth plan while expanding our sales reach with world class partners like Honeywell, Telus, Microsoft and Bell.  Enterprises from major industrial verticals are taking steps to digitize their operations for an increasing number of safety and productivity reasons and Trakopolis and our partners bring unequaled collaborative expertise.”

About Trakopolis
Trakopolis is a Software-as-a-Service (SaaS) company with proprietary, cloud-based solutions for real-time tracking, data analysis and management of corporate assets such as equipment, devices, vehicles and workers. The Company’s asset management platform works across a variety of networks and devices. Trakopolis has a diversified revenue stream from many verticals including oil and gas, forestry, transportation, construction, rentals, urban services, mining, government and others.

FOR FURTHER INFORMATION, PLEASE CONTACT
Brent Moore, President and Chief Executive Officer
Trakopolis IoT Corp.
Telephone: (403) 450-7854
Email: bmoore@trakopolis.com
 
Ron Shuttleworth
Oak Hill Advisors
Telephone: (416) 487-9050
Email: ron@oakhilladvisors.ca
 
Forward Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: Further acceleration of recurring revenue growth. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: results from continued channel mobilization, continued recurring revenue growth; and those additional risks set out in the Trakopolis’ public documents filed on SEDAR at www.sedar.com. Although Trakopolis believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all.  Except where required by law, Trakopolis disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Information
This press release contains references to certain non-GAAP financial performance measures such as recurring revenue, subscription pricing, monthly recurring revenue (MRR) and average revenue per unit (ARPU) which does not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) and may not be comparable to similar measures presented by other entities. These non-GAAP financial performance measures should be viewed as a supplement to, not a substitute for, the Company’s results of operations reported under IFRS. “Recurring revenue” includes monthly software subscriptions and resale of cellular and satellite data. Recurring revenue is recognized monthly as services are delivered and is derived from the subscription revenue category within the Company's financial statements. The Company believes that recurring revenue provides useful information to investors because it shows the long-term nature of recurring service revenue.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.