Utilis 2020 message to customers and partners on results and the future

Utilis to finish year at 150% YOY revenues

SAN DIEGO, Dec. 15, 2020 — (PRNewswire) —

SAN DIEGO, Dec. 15, 2020 /PRNewswire-PRWeb/ -- Utilis revolutionized the application of remote sensing using SAR (synthetic aperture radar) with the introduction of a potable water leak detection product in 2016. Today, Utilis leads the world of innovative earth observation with its underground infrastructure products being sold and under development, while striving to provide customers with services that increase their positive impact on the environment. Utilis seamlessly provides actionable data analytics saving resources, generating revenue streams, and providing a tool for regulatory compliance.

Utilis started off Q1 2020 with a healthy backlog, setting it up to achieve revenue targets during the unexpected COVID lockdowns occurring in March. Through the uncertainty of Q2, Utilis was able to continue operations under regionally mandated social distancing and work-from-home protocols with no effect on revenue projections. Services were delivered without delays, and on-site trainings were replaced with virtual trainings where applicable. This was in large part due to the high level of preparedness by Utilis utility customers worldwide through their ongoing and regular risk reduction efforts. As a fully digital product, Utilis service enables customers to maintain social distancing while continuing to provide essential services to the public. Now approaching the end of 2020, it is estimated that Utilis revenues will close at 150% of 2019 levels with the largest quarter being Q4 and a strong backlog going into 2021.

The significant year-over-year-growth in sales revenue is translating into greater capabilities, matching the company vision and five-year strategic plan. Utilis product development expanded, resulting in one product added to the portfolio, Hydro-Scan™. Additional products will be released in 2021 in the water and ground engineering markets.

The partnership program added a major asset management player, Innovyze. Utilis Inc., Silver Partner of GIS leader Esri, received the Release Ready Specialty designation, recognizing them as an institution that upholds the high standards set out by Esri, such as adoption of the latest version of Esri technology and offering content using the latest capabilities of GIS. Additional partnerships were made with major players in the transportation market, including with UK-based RSK Group.    

Based on the amazing success and market adoption of Utilis applications throughout 2020, Utilis has grown from 21 to 31 employees, with 10 more positions open and expected to be filled through Q1 2021. These positions represent significant growth in the sales team and R&D capabilities to match the company vision to release and sell multiple new products in 2021, with associated revenue to follow. Four international resellers were added this year and a UK office will open in 2021 to compliment the offices already located in Israel and the USA. Utilis looks forward to another great year fulfilling their mission, to advance planet Earth's resource resilience through SAR analytics.

Media Contact

Karen Dubey, Utilis, 8587986709, Karen.Dubey@utiliscorp.com

 

SOURCE Utilis

Contact:
Company Name: Utilis
Web: https://utiliscorp.com/




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