Urbanimmersive - CEO & Co Founder, Ghislain Lemire
CEO & Co Founder, Ghislain Lemire
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  • Urbanimmersive (UI) has released its Q2 2021 financial results, in addition to several business highlights from the quarter
  • Revenues were up by around 10 per cent compared to last year, and the company also reported lower operating expenses
  • The company launched its innovative 3D tour solution, UiMeet3D, as well as a new version of its UI Capture mobile application, during the quarter
  • Urbanimmersive is a software as a service (SaaS) business management solution
  • Urbanimmersive Inc. (UI) is down 3.03 per cent on the day, trading at $0.16 per share

Urbanimmersive (UI) has released its Q2 2021 financial results, in addition to several business highlights from the quarter.

For its second quarter of 2021, the company generated revenues of $982,000, an increase of 10.2 per cent compared to Q2 2020.

The company also reported lower operating expenses year-over-year and higher adjusted EBITDA by approximately $15,000.

Simon Bédard, CFO of Urbanimmersive, commented on the second quarter results.

“During the quarter,” he said, “we had to navigate once again in a particularly difficult economic environment with the number of real estate transactions down significantly while compared to same period last year and which is largely attributable to the current health crisis.”

“Although confinement measures and the scarcity of real estate transactions temporarily affect our results,” he added, “the current health crisis has accelerated significantly the adoption and use of virtual environments in many markets […] and lead us to believe that the future of Urbanimmersive is very promising in the medium and long term.”

The company launched its innovative 3D tour solution, UiMeet3D, as well as a new version of its UI Capture mobile application, during the quarter.

“This very important quarter set the foundations for new growth drivers and sources of recurring income for our company,” said Urbanimmersive president and CEO Ghislain Lemire.

He added, “The announcement of our first contracts to offer immersive 3D tours as an annual license in new markets such as the security market also confirms all the competitive advantages and potential of our solutions in such environments.”

Urbanimmersive is a software as a service (SaaS) business management solution that provides mission-critical solutions to visual content providers serving the real estate residential, commercial, construction, and local business markets.

Urbanimmersive Inc. (UI) is down 3.03 per cent on the day, trading at $0.16 per share as the market opened.

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