(NewsDirect)
A2Z SmartTechnologies Corp. ("A2Z") ("Company"), (NASDAQ: AZ )(TSXV: AZ ), todayannounced a corporate update:
General
A2Z is focused on its transition from a researchand development company to a full-to-market product company,delivering cutting-edge solutions to clients worldwide. With ourrecent achievements, including mass manufacturing capabilities and astrong leadership team led by Guy Mordoch CEO of its Cust2mate smartcart business, A2Z is experiencing increasing growth in the number ofsmart carts ordered and in the number of chains ordering our smartcarts.
Updatere Yochananof:
A2Z recently announced that further to the existing purchase of1,300 Smart Carts from the leading grocery chain Yochananof foraggregate revenues of approximately NIS 35 million (~USD$ 12.0million; ~CAD $13.8 million), Yochananof informed the Company of itsintention to purchase up to an additional 1,700 of the Company'snew generation smart carts. This expansion is a testament to thesuccess and effectiveness of the Cust2Mate smart cart solution, whichhas significantly improved customer satisfaction and loyalty, andrevenue for Yochananof. The increased order reflects Yochananof'sconfidence in the technology and its commitment to enhancing theshopping experience for its customers.
Update re New Client Hastock:
HaStok Concept Ltd.(“Hastok”), one of Israel’s leading home design and householdessentials chain with 40 stores across the country, has partnered withCust2mate for the order of 1,000 smart carts. The partnership marks asignificant expansion for A2Z’s smart cart solution into a newvertical outside of grocery retail. The order is comprised of anupfront payment, a guaranteed monthly payment, and a revenue shareagreement on added value solutions, such as advertising. Thecollaboration with Hastok demonstrates the growing demand and value ofthe Cust2Mate smart cart solution.
Business Model:
A2Z Smart TechnologiesCorp is undergoing a significant shift in its business model toenhance flexibility and provide greater value to clients. While theoutright purchase of smart carts has been the traditional approach, weare introducing a subscription-based model to offer clients a morecost-effective and customizable solution. Under this model, clientswill have access to our smart carts on a multiyear subscription basis,paying a one-time upfront fee along with monthly charges which willalso cover hardware and software maintenance, service, and updates.The length of the subscription period will be tailored to eachclient's unique requirements. This transition allows us to retainownership of the smart carts, lower manufacturing costs, and generatesteady revenue growth as the installed base expands.
Furthermore, our smartcarts serve as a digital services platform, acting as a marketplacefor retail-directed apps and services. With integrated touch screensand real-time data, our Cust2Mate smart carts can provide shopperswith valuable information, including purchase details, ingredientlistings, allergy information, and in-store navigation.Simultaneously, stakeholders such as retailers, manufacturers,advertisers, and third-party service providers can leverage thisplatform to deliver personalized promotions, advertisements,e-coupons, and other digital services directly to shoppers at thepoint of decision-making. By sharing revenues with these stakeholders,we create a win-win situation, fostering increased revenue streams forall parties involved. We anticipate that digital revenues from theSmart Cart Marketplace will grow substantially, enabling us to reducethe net cost of our smart carts for retailers while delivering addedvalue to shoppers, retailers, and manufacturers.
In addition, in manyinstances the retailer presently has limited information regarding theactions and decisions of the shopper until the actual time of payment.We are developing software for our smart carts to generate a wealth ofdata on such shopping behavior which can be mined, analyzed andmonetized through data as a service or product offerings tailored toeach of the stakeholders in the retail industry.
PilotUpdates
Cust2Mate has successfully initiated working pilots acrossmultiple continents, showcasing the global reach and versatility ofour smart cart solution. These pilots have been deployed in variouslocations, including the US, Mexico, the middle east and leadingretailers in Europe. These pilots have demonstrated impressiveperformance and achieved notable successes.
Outlook:
Bentsur Joseph, CEO of A2Z sated "we believethat several of these pilots will turn into roll-outs and that we arepoised for continued growth and success as a leading provider of smartcart solutions in the retail industry. With our innovative technology,new generation carts, expanding customer base, and strong marketpresence, the company is well-positioned to meet the increasing demandfor seamless and personalized shopping experiences. A2Z remainscommitted to driving further expansion, delivering exceptional valueto its clients, and generating sustainable long-term growth andprofitability."
Growth and Financial Results:
"We are thrilled tohave turned the corner from being primarily a research and developmentcompany to becoming a full-to-market product company," saidBentsur Joseph, CEO of A2Z. "Our growth and recent achievementsare a testament to the dedication and hard work of our team, as wellas the tremendous market potential for our Cust2Mate smart cartsolution. We are proud to deliver innovative technology and hardwaresolutions to clients worldwide, transforming the retail industry andenhancing the shopping experience." He continued to state: ”Ourfinancial results are growing significantly, we are pleased to reportstrong financial performance for the first quarter of 2023. Q1Revenues reached $4,608,000, representing a 318% increase from$1,446,000 during the same period the previous year. Gross profit forQ1 amounted to $1,021,000, a significant 370% increase from $276,000during the same period of the previous year.”
Leadership
Leading the charge at Cust2Mate is CEO Guy Mordoch,a highly accomplished leader with a prestigious resume in operationalgrowth. With over 25 years of experience in multi-industry and globalleadership roles, Guy has a proven track record of building andtransforming businesses, creating scalable infrastructure, developinginnovative products and solutions, and penetrating new markets.Commenting on his role, Mordoch stated, "My objective as CEO ofCust2Mate is to lead the company as the dominant provider of smartcart, digital and data solutions to the global retail industry. I amexcited about the tremendous growth opportunities ahead of us and thepositive impact our solutions have on both retailers andconsumers."
Recent Press Releases:
- A2Z Smart TechnologiesLaunches Next Generation V2.8 Light Smart Cart - READMORE
- A2ZSmart Technologies Launches Revolutionary Modular Smart Cart forGlobal Retail - READMORE
- Cust2Mate,A2Z Smart Technologies Subsidiary, Appoints Guy Mordoch as CEO - READ MORE
- A2zCust2mart, A Leader In Smart Cart Technology Announces SuccessfulTrial Of Computer Vision Product Recognition Solution READMORE
- A2ZPartners with HaStok to Deploy 1,000 Smart Carts to their 40 LocationsNationwide READMORE
- A2ZSmart Technologies Continues Rollout of Cust2Mate Smart Carts toYochananof Supermarkets READMORE
- ThisWeek on MoneyTV with Donald Baillargeon WATCH
- A2Z Cust2Mateannounces efforts to reduce food waste and increase sustainability inthe retail grocery supply chain READMORE
About A2Z
A2Z Smart Technologies Corp. creates innovative solutions forcomplex challenges. A2Z's flagship product is an advancedproven-in-use mobile self-checkout shopping chart. With itsuser-friendly smart algorithm, touch screen, and computer-visionsystem, Cust2Mate streamlines the retail shopping experience byscanning purchased products and enabling in-cart payment so thatcustomers can simply "pick & go", and bypass long cashiercheckout lines. This results in a more efficient shopping experiencefor customers, less unused shelf-space and manpower requirements, andadvanced command and control capabilities for store managers.
ContactInformation:
Hanover International Inc.
(1) 760 564 7400
Cautionary StatementRegarding Forward-Looking Statements
The TSX Venture Exchange Inc. has in no way passedupon the merits of the Company and has neither approved nordisapproved the contents of this press release. Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release. This news releasecontains forward-looking information, which involves known and unknownrisks, uncertainties and other factors that may cause actual events todiffer materially from current expectation. Important factors -including the availability of funds, the results of financing effortsand the risks relating to our business -- that could cause actualresults to differ materially from the Company's expectations aredisclosed in the Company's documents filed from time to time onSEDAR (see www.sedar.com )and with the Securities and Exchange Commission (see www.sec.gov ). Readers arecautioned not to place undue reliance on these forward-lookingstatements, which speak only as of the date of this press release. Thecompany disclaims any intention or obligation, except to the extentrequired by law, to update or revise any forward-looking statements,whether as a result of new information, future events or otherwise.This press release does not constitute an offer to sell or asolicitation of an offer to sell any of the securities describedherein in the United States or elsewhere.
SOURCE: A2Z Smart TechnologiesCorp.
Contact Details
Hanover InternationalInc.
+1 760-564-7400
CompanyWebsite
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