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TraceSafe (CSE:TSF) reports record-breaking preliminary financials for 2020
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  • TraceSafe (TSF) is reporting unaudited record sales of US$3.6 million for 2020, including Q4 sales of US$2 million
  • Q4 growth stems from sales strength in the Asia Pacific region, specifically Hong Kong and Singapore
  • North American sales increased 148 per cent in Q4 compared to Q3
  • The company sold 800,000 devices in 2020 and increased its hardware prices tenfold
  • Sales drivers for 2021 include SaaS, asset tracking, time and attendance, and worker safety
  • The company will file audited financials by April 30, 2021
  • TraceSafe is a full suite of real-time location management services and contact-tracing solutions through Bluetooth and the cloud
  • TraceSafe (TSF) is up by 1.16 per cent and is currently trading at $0.87 per share

TraceSafe (TSF) is reporting unaudited record sales of US$3.6 million for 2020, including Q4 sales of US$2 million.

The considerable Q4 growth stems from sales strength in the Asia Pacific region, including contracts with the Government of Hong Kong and a Singapore conglomerate.

North American sales increased 148 per cent in Q4 compared to Q3 due to contracts with Hockey Canada, TD Garden and the Cayman Islands Ministry of Health, Environment, Culture and Housing.

Highlights from 2020 include:

  • Over 800,000 devices sold
  • Tenfold increase in hardware sales price
  • Strategic partnerships with TELUS, Tritan Software, ReturnSafe, Elite Events, Talon, TTG, Gotham Growth and UKG
  • Eightfold increase in total employees

Goals for 2021 include:

  • Exploring new sales drivers such as SaaS, asset tracking, time and attendance, and worker safety
  • Building and expanding reseller partnership networks into Africa, Central and South America, and Europe

Wayne Lloyd, CEO of TraceSafe, commented,

"We are proud that TraceSafe's sales growth in Q4 2020 exceeded our internal targets. TraceSafe is honored to continue serving a role in helping governments and enterprises mitigate the global pandemic while at the same time entering into multi-year technology contracts in non-pandemic business lines.

We continue to build up asset tracking, hospital patient management and other exciting technologies. Our solutions are emerging as highly sought-after innovations for the workplace of the future."

The company will file audited financials by April 30, 2021.

TraceSafe is a full suite of real-time location management services and contact-tracing solutions through Bluetooth and the cloud. The company's contact-tracing bracelet has been deployed in mission-critical quarantine applications around the world.

TraceSafe (TSF) is up by 1.16 per cent and is currently trading at $0.87 per share as of 9:33 am ET.

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