TORONTO, ON / ACCESS Newswire / April 9, 2025 / AirIQ Inc. ("AirIQ") (TSXV:IQ), a pioneer in IoT-based asset management solutions, is pleased to announce a significant customer win with a global leader in the transportation logistics and compliance technology space. This customer is expected to generate approximately $300,000 in annual recurring revenue ("ARR") over a period of several years, marking a significant lift to AirIQ's recurring revenue base. Future growth in hardware and recurring revenue is also anticipated as additional solutions are rolled out to this customer leveraging previously announced strategic partnerships.
The new customer - a prominent North American provider of fleet compliance, telematics, and safety solutions - was secured through AirIQ's strategic partnership with Phillips Connect, a recognized leader in smart trailer and fleet technology. Through this collaboration, AirIQ delivered a seamlessly integrated solution designed to help large fleet operators enhance visibility, safety, and operational efficiency.
"This major customer win is a significant step in validating that our investments in sales and marketing are starting to have the desired effect of increasing recurring revenue immediately and in the future", commented Michael T. Lawless, AirIQ Chief Revenue Officer. "It reflects the growing demand for our solutions while demonstrating our ability to secure high-value customers. As we continue to execute our strategy, we remain focused on driving sustainable growth and expanding our recurring revenue base," continued Mr. Lawless.
About AirIQ
AirIQ (TSXV:IQ) was founded in 1997 and is a pioneer in IoT based asset management solutions. AirIQ's solutions allow commercial businesses to reliably, effectively and efficiently monitor assets in near real time. The Company develops iOS and Android mobile and web-based applications, and cloud-based solutions that stand-alone or that can be readily integrated with existing software. AirIQ solutions are mixed fleet capable and provide fleet reporting, maintenance, compliance, safety and analytics utilizing multiple hardware options including a fully integrated video telematics camera solution and a battery powered solution for non-powered assets. For additional information on AirIQ please visit the Company's website at www.airiq.com or follow us on LinkedIn, Facebook, and Instagram.
Forward-looking Statements
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
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For more information please contact:
AirIQ Inc.,
Michael Robb, President and Chief Executive Officer,
(905) 831-6444
mrobb@airiq.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AirIQ, Inc.
