Product Shipping in Late January/Early February to Fulfill an Additional $1.7 Million in Backlog
TOCCOA, GA / ACCESSWIRE / January 12, 2023 / Galaxy Next Generation, Inc. (OTCQB:GAXY) ("Galaxy" or the "Company), a provider of interactive learning technology solutions and school communication platforms, is pleased to announce that its sales pipeline has risen to $5 million, its largest in Company history. In addition to a strong sales pipeline, Galaxy is pleased to have product available and ready to ship towards the end of this month helping them close out on $1.7 million in backlogged purchase orders.
The ramp up of sales opportunities is specifically driven by the successful launch of two new product lines, G2 Link (a Classroom Audio Amplification System) and G2 Secure (an Emergency Communication Platform). These two new products were a result of heavy Research and Development investments in 2021 and continued additions with features in 2022. The launch of G2 Link also was a big transitional point for us as we moved our classroom audio product line under the 'G2' brand directly and away from supplying our technology under an OEM relationship, to another US based company. With this transition, we are now able to offer a fully integrated solution for all things communication within the classroom and throughout the school. Our fully integrated communication platform can be used as a school's regular intercom and voice lift system as well as provide controlled communication during a crisis situation. This fully integrated solution which is completely flexible and scalable into any school environment has already proven to be a catalyst within our organization and will be responsible for our growth coming into 2023. As we continue to focus on these new products over the next 12-month period, we will also continue to see improvements in our profit margins (as evidenced in our last quarterly report reflecting the increase in profit margins from ~40% to 57%).
About Galaxy Next Generation, Inc.
Galaxy Next Generation (OTCQB:GAXY) is a provider of interactive learning technology solutions that allows the presenter and participant to engage in a fully collaborative instructional environment. Galaxy's products include Galaxy's own private-label interactive touch screen panel as well as numerous other national and international branded peripheral and communication devices. Galaxy's distribution channel consists of 22+ resellers across the U.S. who primarily sell the Company's products within the commercial and educational market. Galaxy does not control where resellers focus their resell efforts, although generally, the K-12 education market is the largest customer base for Galaxy products - comprising nearly 90% of Galaxy's sales.
For additional information, please visit our website at: www.galaxynext.us
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE: Galaxy Next Generation, Inc.
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