INEO Expanding Revenue Streams with Strategic Partnerships and Advanced AI Solutions
Surrey, British Columbia--(Newsfile Corp. - January 7, 2025) - INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF) (the "Company" or "INEO"), a leader in Retail Media, Loss Prevention, and Analytics, is pleased to provide a corporate update highlighting its ongoing growth initiatives and advancements.
Positioned for Growth in 2025
"2024 was a pivotal year where we raised capital and positioned INEO for accelerated growth in our core markets," stated Kyle Hall, CEO of INEO. "Our Retail Media revenue saw year-over-year growth of 48% and we are focused on accelerating this revenue stream in 2025. Additionally, we are forging strategic partnerships to bring brand new revenue streams to the Company through the sale and licensing of our INEO Welcoming Systems and subscriptions to our INEO Dashboard platform for content management, analytics and reporting. INEO is at heart a great software company and we are focusing on incorporating AI enabled features into our market leading technology and products."
INEO is building a diversified revenue model encompassing advertising sales, loss prevention products, INEO Welcoming System sales and licensing and subscription-based services. By leveraging these streams, the Company will concentrate resources on advancing its AI-driven features, including real-time analytics and enhanced loss prevention capabilities. INEO anticipates announcing key partnerships in the near future to further support its strategy.
INEO Expanding Revenue Streams with Strategic Partnerships and Advanced AI Solutions
INEO secured $4 million in funding through Coenda Investment Holdings Corp., strengthening its financial foundation. This financing enables the Company to scale operations and invest in its core intellectual property including AI offerings and new subscription-based services.
2. Subscription Revenue - NEW
The INEO Dashboard, the advanced online platform powering the INEO Welcoming System, will become a primary revenue driver. Centralizing retail management's workflow into a single portal, the Dashboard sets INEO apart from competitors. Offering capabilities such as seamless over-the-air updates to in-store infrastructure, security event reporting with multi-angle video, store traffic analytics and AI-based insights into consumer behaviour, organized retail crime alerts (ORCA) and real-time content management, the Dashboard is the cornerstone of INEO's new subscription-based revenue model.
3. Licensing Opportunities - NEW
To fuel subscription revenue INEO is launching a new initiative of licensing the INEO technology to strategic partners for them to manufacturer and sell the INEO Welcoming System under their own label. Additionally, INEO is creating variations of products in the Welcoming System such as standalone traffic counting systems to license and sell. All systems sold by INEO, or licensed to other manufacturers, will need to connect to the INEO Dashboard enabling large-scale licensing opportunities which INEO anticipates announcing soon.
4. INEO Welcoming Network - EXPANDING
INEO continues to deploy its cutting-edge Welcoming Systems across its growing in-store Retail Media network. Currently, the network features over 170 locations in a major U.S. retailer with the INEO Welcoming System at entrances/exits and additional screens in key high-traffic areas. These deployments establish one of the most comprehensive in-store media networks in North America, with uniquely high-visibility and high-value locations for advertisers. The strategic focus of the expansion in 2024 provided better coverage in key advertising markets such as New York and Los Angeles, and this focus along with the Company's expanding footprint will enable dynamic advertising opportunities.
5. Retail Media Momentum - EXPANDING
The launch of INEO Retail Media in late 2023 has already demonstrated strong growth, with substantial sales increases in the Company's Canadian liquor store network and U.S. business supply retailer partner. With a robust foundation of advertising sales partners, agencies and programmatic platforms, INEO has cultivated strong sales relationships with leading advertisers and national brands across a variety of markets. INEO has proven the network's success with these national brands, and the brands have signed repeat contracts with increased budgets. INEO anticipates accelerating growth as more screens are deployed.
6. Revitalizing Loss Prevention Sales - EXPANDING
INEO is reinvigorating its tag and label business after a strategic shift in focus during 2024. With new partners and the relaunch of its e-commerce platforms, including www.securitytags.com and www.securitytagswholesale.com, INEO expects renewed growth in this high-demand category.
Innovating for the Future
INEO's Welcoming System combines advanced AI and Retail Media advertising with market-leading RFID and EAS (Electronic Article Surveillance) technology, ensuring retailers benefit from state-of-the-art loss prevention solutions, new revenue streams and operational insights. The Company's unique integration of media, analytics and technology positions it to lead in an evolving retail landscape. INEO has secured three patents for its INEO Welcoming System technology and has developed a trove of trade secrets which is increasing demand for the Company's offerings.
INEO Tech Corp. Per: "Kyle Hall" Kyle Hall, Chief Executive Officer and Director
About INEO Tech Corp. (TSXV: INEO) (OTCQB: INEOF)
INEO Tech Corp., through its wholly owned subsidiary, INEO Solutions Inc., operates the INEO Media Network, a digital advertising and analytics solution for retailers, and INEO Retail Media, an advertising sales provider for in-store retail media. INEO is headquartered in Surrey, Canada and publicly traded on the TSX-Venture Exchange under the symbol "INEO" and on the OTCQB under the symbol "INEOF".
Investors are cautioned that, except as disclosed in the disclosure document, any information released or received with respect to the Company may not be accurate or complete and should not be relied upon. Trading in securities of the Company should be considered highly speculative.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectations. Important factors - including the availability of funds, acceptance of the Company's products, competition, and general market conditions - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed on SEDAR, including the Annual Information Form for the year ended June 30, 2022 filed on SEDAR on November 4, 2022. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
