New York, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Tekumo Inc. (TKMO or the "Company").
Dear Shareholders,
As we close out another year, we want to take this opportunity to reflect on our achievements, challenges, and the path forward. This year has been transformative for Tekumo, marked by significant milestones and strategic advancements.
Achievements and Milestones
1. Financial Performance: We closed 2024 with gross revenue of $4.36 million, a 62.1% increase Year-Over-Year (YOY), and a 43.8% increase Q4 over Q3. This momentum and the significant new customers added in the second half of the year, support 2025 projections that more than double our 2024 performance.
We maintained a gross margin of 35.3% (38.5% ’23) and continued to invest in our platform and the growth of our team, operating at a net loss of $0.75 million (17.6% of Revenue), marginally lower than 20.7% in ’23.
This year has been instrumental in bringing a new and innovative approach to Field Service Management. Our foundation for growth and scalability has been solidified. We are poised to disrupt the market.
2. Development: We made substantial progress in the development of our Tekumo software including fully automated workflows, dynamic cost guardrails, powerful AI driven process improvements, and further data visualization. These tools will enable Tekumo’s Platform to become a fully self-managed solution, “Uberizing” the tech marketplace.
3. Diversification: Our commitment to field services innovation has led to the successful launch of Tekumo Managed Services. This division is focused on the managed support of OEMs and Enterprise level customers. We operate as an extension of their delivery model in the industry’s first a` la carte support offering. We further drive flexibility and scalability of these organizations for both internal and external resources.
4. Innovation: We continue to focus on transformation of our systems and technology, by leveraging AI to drive service efficiency, extending our reach into multiple industry verticals and monetizing all data flows within our ecosystem.
Challenges and Resilience
Every year is not without its own challenges. Our early concentration around a few customers left us subject to variability in those projects. Adding new customers both in number and size has reduced that dependency.
In 2024, we have successfully brought in new people, new processes, and new technologies into the Tekumo family. These additions will enable us to change how services are procured and delivered, effectively shaping the Future of Work.
Looking Ahead
As we move into the new year, we remain focused on our long-term vision of “uber-izing” product and service delivery. Our priorities include:
Enhancing Customer Experience: We continue to prioritize customer satisfaction by improving our products, interface, accessibility, and services. We have launched a new division of Tekumo, under the direction of our Customer Experience Officer (CXO) Graham King. Graham will head our efforts in Client, Employee, and Technician experience, including UX/UI, Training, Onboarding, Support, and Advocacy.
Investing in Talent: Our people are our greatest asset. Tekumo is committed to fostering a culture of growth and development. In 2024, we added key resources in multiple verticals in our organization, including, Derrick Youngblood (CRO), Wendi Greene (Director, Operations), Chad Parker (Director, Technical Solutions), and Tiffany McNeely (Service and Parts Delivery). These individuals collectively bring over 90+ years of knowledge and direct industry experience. Their skills have brought an immediate impact to their respective roles and we are excited about their continued impact for 2025 and beyond.
Systems and Technology: Kicking off 2025 is a very exciting time for Tekumo. Our focus continues to be on efficiency, scalability, and profitability. As we deploy new automation in our service management platform, we will usher in a new era of managing field labor that can be leveraged in any technology and any environment. Leaders in this market, including ServiceNow (Ticker NOW), offer robust platforms that greatly benefit from the granularity of the Data and process our systems and software provide.
Dramatically Expanding Our Market Reach: We plan to enter multiple new verticals and strengthen our presence in existing ones. These verticals include impacting The Future of Work by integrating internal and external resources, heavily utilizing AI in service delivery, leveraging Data at the Edge, harnessing Remote Power Generation, expanding Industrial IoT, and advancing Wi-Fi and Connectivity.
Global Market and Key Verticals
We play in an enormous sandbox. The broader IT services market globally, which includes onsite technical services, was valued at approximately USD 1.16 trillion in 2023 and is expected to reach USD 2.25 trillion by 2032, growing at a compound annual growth rate (CAGR) of 7.6% Data: Claight Corporation
Decentralized edge data centers - The global market for decentralized edge data centers is experiencing rapid growth due to the increasing demand for low-latency data processing and the proliferation of IoT devices.
Its market size was USD 12.84 billion in 2024 and is expected to reach USD 45.57 billion by 2030, growing at a CAGR of 23.5%.
Data: Diligence Insights
These figures highlight the significant expansion and potential of the decentralized edge data center market, driven by advancements in 5G, AI, and the increasing need for real-time data processing, all of which must be installed and maintained through platforms like Tekumo.
Industrial IoT - The market for IIOT was valued at USD 394 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 23.2% to 2030, with expectations to reach approximately USD 3.3 trillion by 2030.
Data: Grand View Research
These figures highlight the substantial expansion and potential of the IIoT market, driven by advancements in technology and the increasing adoption of IoT solutions across various industries that all require installation, monitoring and maintenance.
Future of Wi-Fi - The global WiFi market is experiencing robust growth, driven by the increasing demand for seamless connectivity and the proliferation of smart devices.
The market size is expected to grow from USD 14.5 billion in 2023 to USD 39.4 billion by 2028, with a compound annual growth rate (CAGR) of 22.2% during this period.
Data: Markets And Markets
These figures highlight the significant expansion and potential of the WiFi market, driven by advancements in WiFi technology, such as WiFi 6, and the increasing adoption of connected devices in both residential and commercial settings that also require a service delivery platform to support installation and maintenance of such systems.
Gratitude
We want to extend our heartfelt gratitude to all our stakeholders for their support and trust. Your confidence in our vision and strategy is the foundation of our success.
Together, we are building a strong organization and a better industry, and we are excited about the opportunities that lie ahead. Thank you for being a part of our journey.
“If you’d like to go fast, go alone. If you’d like to go far, go together!” – Mufasa
Wishing you a prosperous and joyful 2025!
Sincerely,
Strings, Phillip, Chris, Derrick Tekumo, Inc.
About Tekumo, Inc.
Tekumo, Inc (OTC: TKMO) is an alternative reporting publicly held company that wholly owns Tekumo LLC.
Tekumo offers a field services delivery platform that solves the "last-mile" of installing, monitoring, and maintaining technology systems and smart connected devices. Distributed real-time data is at the core of all Tekumo offerings.
We play at the intersection of several major trends: the “Uber-ization” of product and service delivery, the explosion of smart connected devices brought about by the “Industrial Internet of Things” (IIoT), the advent of AI driven process efficiency, and the rise of the gig worker. Our Service Delivery platform is designed to intelligently automate the installation and maintenance of products by offering On-Demand local technician resources, as well as providing a “smart interface” for the monitoring and management of connected devices.
This service platform caters for a broad range of technologies from POS systems, kiosks, digital menu boards, print services, cameras, cabling, Wi-Fi and networking, as well as smart homes devices, wearable sensors, and access control.
Our platform results in “less people, less time and less cost” for our customers.
When we discuss our strategy, plans, future financial and operating performance, or other things that have not yet taken place, we are making statements considered to be forward-looking statements under United States (US) securities laws. Please see the disclosure relative to forward-looking statements at the base of this discussion.
Safe Harbor:
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain forward-looking statements, as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The Company disclaims any obligation to update the information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
Colorado Springs Phillip Dignan, President & CFO 719-900-4535 Investors@Tekumo.com
