Predictiv AI (TSXV: PAI) has provided a market update this morning in connection with ThermalPass, the firms sensor-based screening system that is used for the screening of fevers via infrared thermal sensors. Over the past two weeks, it has been revealed that orders for twenty eight devices in total have been made as the company works towards ramping production.
The orders are said to come from markets that offer significant scaling opportunities, with the sales being made to a Canadian provincial government, several hospitals, and US public schools. Given the nature of these markets and the need for an effective screening tool amid the ongoing pandemic, these verticals present significant opportunities for the firm.
While it was not disclosed what revenues were generated from the sale of these devices, the company did reveal that production and assembly of the ThermalPass Portable and ThermalPass Pro is in the process of ramping. The firm also revealed the price points for the individual units, with the ThermalPass portable being sold at US$6,900, while the ThermalPass Pro has a price point of US$7,300. The devices sold did not have their model indicated, however installations are currently anticipated to be completed by the end of the month.
“We are also cognizant and encouraged that these orders are formative in nature and have the potential to be significantly upsized. In tandem with our reseller agents, the ThermalPass sales focus has been targeting the most scalable sectors, and we are now getting traction in some of the largest market segments, including hospitals, schools, and long-term care facilities among others. We continue to actively market ThermalPass with multiple demos daily across Canada, the US and internationally.”
Michael Lende, CEO of Predictiv AI
Predictiv AI last traded at $0.19 on the TSX Venture.
FULL DISCLOSURE: Predictiv AI Inc is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover Predictiv AI Inc on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
