VSBLTY CEO Believes 2019 Efforts Will Lead to Strong Q2 Results

VSBLTY has continued to build on its 2019 success. The company booked more than $1 million in revenue in the first quarter of 2020, and is already anticipating an even better performance in Q2.

“Our key channel and development partners are driving adoption with major retailers, brands and infrastructure,” said VSBLTY Co-founder and CEO Jay Hutton, during his 2020 CEO update. “This is why we spent the time and resources to get these partnerships in place in 2019.”

According to Hutton, VSBLTY closed 2019 with its best bookings quarter to date. It also has a trio of deployments lined up with healthcare organizations and retailers in the U.S. and Canada, all of which are scheduled to begin in the second quarter. Hutton credited VSBLTY’s reseller arrangement with Sensormatic for much of that success, and indicated that the two organizations will continue to work together to extend the reach of the DataCaptor platform.

VSBLTY is also hoping to advance its smart city initiatives in Latin America. The company has teamed up with Energetika to deploy facial recognition in surveillance cameras in Mexico City, and while the program is still ongoing, it has already been credited with a significant reduction in crime. VSBLTY is now hoping to move forward with a second major deployment in Latin America based on those early results.

In the meantime, VSBLTY is preparing to roll out a new video wall solution in the U.S. The video wall is designed for elevators, where it can be used to display advertisements or provide riders with information about the building. The solution is connected to the web to enable outside communication in case of an emergency. VSBLTY expects to receive U.S. certification to begin installing the technology relatively soon.   

In other news, VSBLTY announced that Heather Sims has been appointed as the company’s new CFO. She replaces Laurette Pitts, who stepped down for personal reasons but will stay on as a member of the Board of Directors.   

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March 19, 2020 – by Eric Weiss