Leading asset management solutions provider Universal mCloud Corp. (TSXV:MCLD) (OTCQB:MCLDF) is gearing up to share its second quarter 2019 financial results with shareholders in a conference call scheduled for Thursday, August 15, 2019.
If the company’s Q1 2019 results are any indication of what’s to come, there is no doubt investors will be tuning in at 5:30 pm EST on the 15th.
Universal mCloud has been keeping very busy in its second quarter, completing the acquisition of Fulcrum Automation Technologies and Autopro Automation Consultants, raising $23.4 million in debenture financing, and making its first AssetCare deliveries to six oil and gas facilities in Alberta.
The acquisition of Fulcrum and Autopro is expected to bring in $35 million CAD in revenue and $5.5 million CAD in EBITDA on a trailing twelve-month basis, while the application of its AssetCare to the Alberta oil and gas facilities is expected to generate annual recurring revenues totaling $1 million CAD.
Add to that the $23.4 million the company just gained from financing and it’s evident that Universal mCloud is a force to be reckoned with in the asset management solutions space.
A Look Back at Universal mCloud’s Q1 Results
This year has already been a big win for Universal mCloud, and its 2019 first-quarter financial results are proof of that. In Q1 2019, the company saw its revenue grow 500% year-over-year to $2.2 million CAD.
mCloud’s first quarter also included some impressive operating highlights. In fact, the company managed to sign significant agreements that will advance its three business segments: smart buildings, wind energy, and oil and gas.
In February, its partner SCN Ltd. secured a nine-year contract with Heiwado to connect AssetCare in its Changsha-based shopping center. Connectivity was officially established in April, marking a big implementation milestone for mCloud.
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Then in March, Universal mCloud teamed up with Ecotricity affiliate Britwind Ltd. to upgrade over 1,000 wind turbines with AssetCare solutions.
The following month the company signed a six-year agreement with TELUS Corporate Real Estate to upgrade HVAC controls and deploy its AssetCare premier TELUS office tower located in Scarborough, Ontario. The upgrade will reduce energy cost related to heating and cooling as well as cut down facility management costs substantially.
In the oil and gas sector, MCLD unveiled its plan to augment field workers with head-worn, hands-free smart glasses powered by AssetCare, providing them with real-time access to digital work capabilities. As mentioned, the company has since on-boarded this technology at six oil and gas facilities using the Software-as-a-Service (SaaS) model.
With access to over 700 midstream oil and gas facilities across Alberta and northern BC, the company has a large target market in Canada. However, its sights are set on global implementation, and it expects to reach more than 14,000 oil and gas facilities worldwide.
On the technology front, Universal mCloud also made some significant advancements in the evolution of its AssetCare™ platform with the Microsoft Azure Cloud in the first quarter.
Investors who are interested in learning more about mCloud’s Q2 2019 financial results won’t want to miss the conference call on Thursday, August 15, at 5:30 pm EST. If you can’t make the call, it will be archived for replay until the following Thursday at midnight.
Featured Image: Pixabay
