Intrinsyc Technologies Corp. (TSXV:$ITC) has been named among the top 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America by Deloitte’s Technology Fast 500™.
Intrinsyc Technologies, a leading developer of intelligent connected devices, achieved spot 407 on the ranking list for its 196% revenue growth achieved over a three-year period, from 2013 to 2016.
Chief Executive Officer of Intrinsyc, Tracy Rees, attributes this revenue growth to the company’s strategic shift from not only providing non-recurring engineering services but also developing a portfolio of industry-leading embedded computing solutions for high-growth IoT (Internet of Things) products.
“Since 2013, Intrinsyc has focused on developing the industry’s highest performance embedded computing solutions for a variety of emerging growth IoT products; including robotics, virtual reality, connected cameras, and wearables,” said Rees. “When our computing solutions are designed into our client’s products they typically lead to repeat hardware purchases over multiple years. Every year we have increased our number of clients leading to our strong growth.”
Rees also added that “Intrinsyc has strong technology partnerships and continues to invest in expanding our product portfolio to position the company for future growth.”
Sandra Shirai, Vice Chairman of Deloitte Consulting LLP said of the achievement, “[t]he Deloitte 2017 North America Technology Fast 500 winners underscore the impact of technological innovation and world class customer service in driving growth, in a fiercely competitive environment. These companies are on the cutting edge and are transforming the way we do business. We extend our sincere congratulations to all the winners for achieving remarkable growth while delivering new services and experiences for their customers.”
National Managing Director of Deloitte $ Touche LLP, Heather Gates, added that “[e]merging growth companies are powering innovation in the broader economy. The growth rates delivered by the companies on this year’s North America Technology Fast 500 ranking are a bright spot for the capital markets and a strong indicator that the emerging growth technology sector will continue to deliver a strong return on investment. Deloitte is dedicated to supporting the best and brightest companies of the future in the emerging growth company sector. We are proud to acknowledge the significant accomplishments of this year’s Fast 500 winners.”
For a company to be eligible for consideration in the Technology Fast 500 ranking, it must own proprietary intellectual property or technology that is sold to customers in products contributing to the majority of the company’s operating revenues. Companies are required to have base-year operating revenues of at least US$50,000, as well as current-year operating revenues of at least US$5 million. The companies must also have been in business for at least four years, and be headquartered in North America. Rankings are awarded based on percentage fiscal year revenue growth from 2013 to 2016.
Congratulations to Intrinsyc Technologies for this fantastic achievement!
Featured Image: intrinsyc.com
