CORAL GABLES, FL / ACCESSWIRE / February 6, 2019 / The tech stock market is fueled by one of the most interesting emerging industries in the world. Dealing with new technologies purposed with tackling the constant stream of obstacles facing humanity, the tech sector is shaping the world around. This leads one to wonder how to best understand the future of the tech industry. Consumers may not a lot about the fiscal happenings of companies working in tech, but they are likely more familiar with the products and services being released to the public. It's not a matter of coming up with a nuanced approach to a common problem people face, but more so that the solution is something people can actually get behind. So long as companies immersed in the tech sector recognize these two aspects, it may very well catalyze potential investor opportunities in the near future. ParcelPal Technology Inc (PTNYF) (PKG), Snap Inc (NYSE: SNAP), SITO Mobile Ltd (NASDAQ: SITO), and IEC Electronics Corp (NYSE American: IEC) represent four companies determined to innovate towards the advancement of the tech sector.
ParcelPal Technology Inc (PTNYF) (PKG), along with other companies in the space, is taking advantage of the fact that, as new technologies have been developed to meet the growing challenges in life, so too has the willingness of consumers to be persuadable, in terms of considering products they otherwise might not consider. The Company created an on-demand marketplace where consumers can shop for anything from food to clothing.
ParcelPal Technology Inc (PTNYF) (PKG) utilizes technology-driven logistics to connect consumers with the goods they love, including allowing customers to place orders for cannabis products. Customers can shop at partner businesses and, through the ParcelPal platform, receive their purchased goods within an hour. It's no longer a question of what products can be ordered, but, through the Company's platform, how easy can it be to have said products be delivered.
ParcelPal Technology Inc (PTNYF) (PKG) announced towards the end of last month that the Company had formed a partnership with MADD Canada to aid in the continuous fight to prevent impaired driving. According to the announcement, MADD Canada has endorsed ParcelPal as their official delivery service in Canada. As part of the ParcelPal's national rollout campaign, advertising for ParcelPal's service will be seen across the country in various educational forms. Together, MADD Canada and ParcelPal will launch a national awareness campaign focused on educating Canadians on the dangers of impaired driving and the options they have for getting items they want or need without leaving the party.
In a press release regarding the announcement, Kelly Abbott, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), explained that "as ParcelPal dives deeper into cannabis and alcohol delivery, we are very aware of the inherent risks associated with consumption. We take every precaution to ensure the product is not only delivered safely but will be consumed responsibly as well. Our driver training programs and our technology are designed to ensure they do not deliver to a highly intoxicated or underage person."
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Snap Inc (SNAP), the parent company of Snapchat, the popular social media platform, announced its financial results for the quarter and full year ended December 31, 2018, earlier this week. Per the details of the report, common shares outstanding plus shares underlying stock-based awards totaled $1.5 million, and revenue increased 36% to a record $390 million in Q$ 2018, compared to the prior year.
Following the announcement, Evan Spiegel, CEO of Snap, commented, "we ended the year with user engagement stabilizing and have started rolling out the new version of our Android application to a small percentage of our community. We are substantially closer to achieving profitability, as we have maintained a relatively flat cost structure across the past five quarters while growing full-year revenue 43 percent year-over-year."
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SITO Mobile Ltd (SITO) today announced that, in an effort to maintain its well-regulated leadership team, the Company has appointed Terry Lynn as the their new Chief Financial Officer effective as of February 19, 2019. Mr. Lynn served as Chief Financial Officer at MedHelp, a large consumer healthcare company, and helped to lead its acquisition by Merck & Co., Inc. in 2014. Since the time of the sale of MedHelp, Mr. Lynn has served as a contract CFO and financial advisor to a number of Silicon Valley startups and emerging companies, including Dropbox, Weather Underground, Birdeye, iMeem and others.
In response to his appointment, Mr. Lynn said, "I believe that SITO Mobile is well-positioned to capitalize on the necessity by brands to elevate the position of customized data-driven solutions to the forefront of their media and marketing strategies by delivering granular and real-time insights on consumer behavior."
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IEC Electronics Corp (IEC) today announced results for the Company's fiscal 2019 first quarter ended December 28, 2018. Amid their announcement, the Company reported revenues of $35.4 million, an increase of 68% as compares to revenues for the last two fiscal quarters.
Jeffrey Schlarbaum, President, and CEO of IEC commented, "we're pleased to have delivered a strong start to fiscal 2019, reflected in significantly increased revenue and enhanced profitability. As we expected, in addition to year over year improvement, we also achieved sequential revenue growth of 4% compared to the fourth quarter of 2018, a notable development as historically our first quarter performance typically shows a sequential decline."
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