SOBRsafe CEO Provides Recap of Commercial and Nasdaq Debut Year
$19.5 million raised in 2022; 6 customers in revenue and 9 distributors signed
DENVER, CO / ACCESSWIRE / January 10, 2023 / SOBR Safe, Inc. (Nasdaq:SOBR) (SOBRsafe™ or the Company), providers of industry-leading alcohol screening solutions, today announced that CEO David Gandini has provided the following 2022 Year in Review:
To Our Valued Investors and Stakeholders,
We are extremely proud to recap "The Half Year that Was" - the progress we have made since our May 2022 $10 million uplist to Nasdaq, and the subsequent sales launch of our flagship solution SOBRcheck™ in June 2022. Some of our notable accomplishments include:
- We raised a total of $19.5 million in one year, during historically challenging market conditions
- Paid-in capital since 2019 now exceeds $25 million
- We are sufficiently capitalized to execute on our business model into 2024
- We attended 10 alcohol and drug testing-related conferences
- At those events, we introduced our technology to approximately 10,000 companies
- We conducted approximately 2,000 product demonstrations
- We collected more than 600 qualified customer leads, each of which is being actively cultivated by our sales team (a team that doubled in size in 2022)
- We are in early revenue with 6 customers, and we have signed 9 distributors that give us access to 52,000 potential users
Our technology is now actively deployed in the following industries:
- Justice - Probation (currently expanding within an account after a successful first installation)
- Fleet & Facility
- Oil & Gas (currently expanding within an account after a successful first installation)
- Food Management
In addition, we received a purchase order for 1,150 units to enter the Alcohol Rehabilitation market as our wearable band SOBRsure™ launches in Q1 2023; we also established a partnership to deploy SOBRsure in the Rideshare market upon product launch.
- Occupational Health & Safety 2022 New Product of the Year - Safety Monitoring Devices
- Child Safety Network Safe Family Seal of Approval
In 2022 we overcame an economic downturn, continued COVID pressures and a tight labor market to debut on Nasdaq and become a going commercial concern. In just six months we gained material customer adoption and developed a powerful network of proven distributors and demonstrated alcohol detection buyers. We have built a strong foundation on which to grow, and we believe we are well-positioned to ramp revenue in our first full year of sales. We thank you for your continued support of SOBRsafe, and we are excited to become the new safety standard in 2023!
Chairman & CEO
The annual cost of alcohol abuse in the U.S. is $249 billion. Nearly half of all industrial accidents with injuries are alcohol-related, and 1-in-10 U.S. commercial drivers test positive for alcohol (the highest rate worldwide). In response, SOBRsafe™ has developed a proprietary, touch-based identity verification, alcohol detection and cloud-based reporting system. The technology is transferable across innumerable form factors, including stationary access control, personal wearables and for telematics integration.
A preventative solution in historically reactive industries, it is being deployed for commercial fleets, workplaces, alcohol rehabilitation and probation management; other intended applications include airlines and young drivers. This patent-pending alcohol detection solution helps prevent an intoxicated worker from taking the factory floor or a driver from receiving the keys to a truck, bus or rideshare vehicle. An offender is immediately flagged, and an administrator is empowered to take the appropriate corrective actions. At SOBRsafe, we are creating a culture of prevention and support. To learn more, visit www.sobrsafe.com.
Safe Harbor Statement
Our prospects here at SOBRsafe are subject to uncertainties and risks. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business, and reflect our beliefs and assumptions based upon information available to us at the date of this press release. In some cases, you can identify these statements by words such as "if," "may," "might," "will, "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," and other similar terms. These forward-looking statements include, among other things, plans for proposed operations, descriptions of our strategies, our product and market development plans, and other objectives, expectations and intentions, the trends we anticipate in our business and the markets in which we operate, and the competitive nature and anticipated growth of those markets. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors including, but not limited to, the risks and uncertainties discussed under risk factors in our registration statement on Form S-1, (File No. 333-267882) as well as our other filings with the SEC. We undertake no obligation to revise or update any forward-looking statement for any reason.
SOURCE: SOBR Safe, Inc.
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Released January 10, 2023