TIDMSMRT
RNS Number : 5216H
Smartspace Software PLC
04 December 2020
4 December 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
SmartSpace Software Plc
("SmartSpace", the "Group" or the "Company")
Evoko releases next generation meeting room panels 'Naso'
through its network of global partners
& Trading Update
SmartSpace Software Plc (AIM: SMRT), the leading provider of
'Integrated Space Management Software' for smart buildings is
pleased to announce that Evoko, the market leading manufacturer of
meeting room panels, has announced the release of Naso, its next
generation meeting room solution. Naso is now available to order by
Evoko partners globally with the first shipments expected from
Monday 7 December 2020.
SmartSpace has worked with Evoko as its exclusive software
partner to create the Naso software suite and will share in revenue
from the sale of Naso panels and the ongoing SaaS subscription for
each panel. In addition, SmartSpace has integrated its meeting
room, desk and visitor management solutions with Naso. These SaaS
modules will be marketed as Naso 'Rose', 'Pepper' and 'Guava'
respectively and are designed so that they can be easily activated
and configured by customers.
The launch of Naso represents a significant step in SmartSpace's
strategy of creating a channel partner network, to sell its Space
Connect software product globally. The Directors believe the
relationship with Evoko has the potential to generate significant
future revenues for the Company in the form of both revenue sharing
from the sale of Naso panels and SaaS software subscriptions.
Trading Update
The Group continues to make good progress, including;
-- Continued momentum of SwipedOn KPIs;
-- SwipedOn 'Desks' is due to be released imminently;
-- SwipedOn to be offered through the AWS ("Amazon Web Services") Marketplace; and
-- Sales of Space Connect through channel partners starting to
gather pace, building on our pipeline.
SwipedOn continues to sign an encouraging number of new
customers and locations each month, despite the ongoing pandemic
and the various stages of Lockdown in place around the world. There
has been a noticeable increase in interest in the US and Canada,
which is encouraging. In addition, ARPU* continued to grow since
our last announcement on 6 October 2020.
The Group has made good progress with the development of
SwipedOn Desks, a new module, which uses desk management
functionality in Space Connect. From December, SwipedOn Desks will
be offered to a targeted audience of UK customers before being made
available to the SwipedOn customer base in the US, Canada,
Australia and New Zealand in early 2021. SwipedOn Desks represents
a significant opportunity for the Group to increase ARPU from
existing SwipedOn customers.
SwipedOn will also shortly be made available to purchase on AWS
Marketplace, which allows customers to access SaaS business
solutions that run on AWS. SwipedOn will be the first visitor
management system (VMS) to be offered on the AWS Marketplace.
Our partnership with Softcat continues to deliver new customers
and ARR**. As previously outlined, our strategy is to build a
channel sales network for Space Connect. We now have partners in
the UK, Australia, the Far East and Central America and discussions
underway to sign a number of other prospective partners in the
UK.
Whilst Anders & Kern ("A+K") continues to generate revenue,
they have not yet returned to pre-Covid 19 levels, as many
end-users' offices in the UK are yet to fully reopen. The Company
continues to maintain tight cost control and a number of the staff
have been returned to furlough, at least until the end of the year.
In the meantime, A+K continues to refocus the business from selling
solely Audio-Visual hardware products to becoming a supplier of
choice for Smart Building and Space Management technologies.
Aside from the A+K team, our UK and US staff have continued to
work remotely during the second Lockdown, with no negative impact
on productivity whilst in New Zealand, where SwipedOn is based, it
is very much business as usual with the office being fully open
since late summer.
Commenting on today's news Richard Gluckman, CEO of Evoko said:
" We are delighted to announce the release of Naso, the next
generation meeting room panel from Evoko. Since we showcased Naso
at ISE trade show earlier this year, we have had amazing interest
from our partners and distributors around the world. I know they
will be delighted with today's news that Naso is available through
our sales channels. In addition, we are already in discussion with
a number of significant flagship clients who are keen to implement
Naso.
This is the first time Evoko has offered a suite of SaaS
software tools to help our customers optimise their real estate.
Our partnership with SmartSpace has created a great opportunity for
Evoko to evolve our business model. The Evoko product team and the
SmartSpace development team have worked hard over the past 2 years
to create what we feel is a unique offering in the market
place."
Frank Beechinor, CEO of SmartSpace said: " It is great to see
Naso finally released into the Evoko partner channel and this
announcement is a major milestone for SmartSpace. Naso is a great
product and will be one of the best meeting room panels on the
market. A competitive entry price, combined with a suite of
Naso-branded SaaS modules, ensures that Naso has very clear
differentiators in the market.
I am also glad to report the continued positive momentum through
the rest of the business. We previously highlighted that our
strategy is to build out a comprehensive channel sales network for
Space Connect and we are making good progress with this objective,
engaging and signing new partners. SwipedOn continues to do very
well delivering on further growth in customers, additional
locations, ARR and ARPU since our last update in early October. We
are looking forward to releasing SwipedOn Desks, as this creates an
opportunity for a step change in ARPU. The second Lockdown has been
frustrating for A+K but, even so, we have still seen reasonably
strong revenues and we have used the time to promote the new space
management product lines across its reseller network.
So overall, SmartSpace continues to push forward with strong
opportunities across the Group in delivering future significant
growth. "
* Average revenue per user per month | **Annual recurring revenue
Enquiries SmartSpace Software Plc via Lisa Baderoon
Frank Beechinor (CEO) - Head of Investor
Bruce Morrison (CFO) Relations
Lisa Baderoon (Head of Investor Relations)
lbaderoon@smartspaceplc.com +44(0) 7721 413
496
N+1 Singer (NOMAD & Joint Broker)
Shaun Dobson, Head of Corporate Finance
Alex Bond, Corporate Finance
Tom Salvesen, Corporate Broking +44 (0)20 7496 3000
Canaccord Genuity (Joint Broker)
Adam James
Georgina McCooke +44 (0) 20 7523 8000
Notes to Editors
About SmartSpace Software Plc
SmartSpace Software is a SaaS-based technology business, designing
and building smart software solutions. The Company's software
solutions in workspace help transform employee and customer engagement
with modules which include desk management, meeting room management,
wayfinding, car parking, visitor management, and analytics.
The three operating companies in the Group comprise:
* Space Connect - SaaS Meeting Room and Desk booking
(www.spaceconnect.co)
* SwipedOn - SaaS Visitor Management (www.SwipedOn.com)
* Anders & Kern - distribution and technical support
(www.anders-kern.co.uk)
For more information go to: www.smartspaceplc.com
About Evoko
Evoko is a Swedish tech company who develop, market and sell
innovative products that help modern meeting spaces to become more
efficient. The first generation of Evoko room managers emerged in
2009 and received numerous awards for innovation and design. Today
Evoko meeting solutions are deployed in more than 80 countries. For
more information go to: www.evoko.se
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