English 
PALO ALTO, Calif., May 16, 2022 /PRNewswire/ -- Inpixon® (Nasdaq: INPX), the Indoor Intelligence® company, today provided a business update and reported financial results for its 2022 first quarter ended March 31, 2022.
“I’m pleased to report that we continued our strong revenue growth in the first quarter of 2022, as illustrated by a 77% increase in revenue to $5.2 million as compared to $3.0 million for the same period in 2021,” commented Nadir Ali, CEO of Inpixon. “This growth results from Inpixon’s ability to continue to add household name-brand enterprise organizations to its Indoor Intelligence customer list. Our enterprise app platforms are designed to meet the needs of the modern organization, providing a smart, innovative and connected space with technologies that provide end-to-end logistics, management tools and analytics for the workplace, events, and customer experience programs. Our customers are choosing us because we can deliver an enterprise-level platform, rich with over 150 workplace features and partnerships that allow for over 75 enterprise software integrations.
We are at the forefront of delivering solutions that are focused on interconnectivity, automation and intelligence driven by better, more reliable data. With our breadth of hardware and software technologies, Inpixon is well positioned to take advantage of not only the market growth in hybrid workplaces, hybrid events and industrial automation but also the metaverse. Inpixon has the foundational technologies and skillsets -- in hardware design, software development, wireless communications, mapping, positioning, augmented reality, computer vision, 3D rendering, advanced visualizations, analytics, and artificial intelligence -- to ride the metaverse wave.
“Inpixon technologies are gaining broad recognition as a leader in the market, with numerous industry awards and media coverage. We believe we have a solid foundation for continued growth and look forward to expanding our partnerships with organizations that share a vision for driving change and reimagining workplace experiences,” concluded Mr. Ali.
Recent Highlights:
Financial Results
Revenues for the three months ended March 31, 2022 were $5.2 million compared to $3.0 million for the comparable period in the prior year for an increase of approximately $2.3 million, or approximately 77%. This increase is primarily attributable to the increase in Indoor Intelligence sales, particularly our enterprise app (CXApp) product line which was acquired during the second quarter of 2021 and the addition of the IIoT product line in the fourth quarter of 2021. Gross profit for the three months ended March 31, 2022, was $3.8 million compared to $2.1 million for the comparable period in the prior year, an increase of 86%. The gross profit margin for the three months ended March 31, 2022 was 73% compared to 70% for the three months ended March 31, 2021. Net income or loss attributable to stockholders of Inpixon three months ended March 31, 2022 was a loss of $11.2 million compared to a loss of $12.6 million for the comparable period in the prior year. This decrease in loss of approximately $1.3 million was primarily attributable to increased gross profit of $1.8 million, lower operating costs of $0.6 million and higher non-controlling interest of $0.4 million offset by the $1.5 million unrealized loss on the Sysorex shares.
Non-GAAP Adjusted EBITDA for the three months ended March 31, 2022, was a loss of $8.8 million compared to a loss of $5.6 million for the prior year period. EBITDA is defined as net income (loss) before interest, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is used by Inpixon management as a metric by which it manages the business. It is defined as EBITDA plus adjustments for other income or expense items, non-recurring items and other non-cash items including stock-based compensation.
Proforma non-GAAP net loss per basic and diluted common share for the three months ended March 31, 2022 was a loss of ($0.07) compared to a loss of ($0.08) per share for the prior year period. Proforma non-GAAP net income (loss) per share is used by Inpixon management as an evaluation tool as it manages the business and is defined as net income (loss) per basic and diluted share adjusted for non-cash items including stock-based compensation, amortization of intangibles and one-time charges and other adjustments including provision for valuation allowances, severance costs, acquisition costs and costs associated with public offerings.
Conference Call
Inpixon management will host a conference call today at 4:30 PM Eastern Time to discuss the company’s financial results for the first quarter ended March 31, 2022, as well as to review the company’s corporate progress and other developments.
The conference call will be available via telephone by dialing toll-free 844-602-0380 for U.S. callers or +1 862-298-0970 for international callers. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2235/45553 or on the company’s Investors section of the website: ir.inpixon.com.
Investors and other interested parties are invited to submit questions to management prior to the call's start via email to inpx@crescendo-ir.com.
A webcast replay will be available on the company’s Investors section of the website (ir.inpixon.com) through May 16, 2023. A telephone replay of the call will be available approximately one hour following the call, through May 23, 2022, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering conference ID: 45553.
[1] Gartner, Critical Capabilities for Indoor Location Services, Tim Zimmerman, Annette Zimmermann, 7 March 2022.
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About Inpixon
Inpixon® (Nasdaq: INPX) is the innovator of Indoor Intelligence®, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. The company’s Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. For the latest insights, follow Inpixon on LinkedIn, and Twitter, and visit inpixon.com.
Safe Harbor Statement
All statements in this release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19, global conflicts, inflation and other global events on Inpixon's results of operations and global supply chain constraints, Inpixon’s ability to integrate the products and business from recent acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Inpixon’s technology, Inpixon's ability to maintain compliance with Nasdaq’s minimum bid price requirement and other continued listing requirements, the ability to obtain financing if needed, competition, general economic conditions and other factors that are detailed in Inpixon's periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
Non-GAAP Financial Measures
Management believes that certain financial measures not in accordance with generally accepted accounting principles in the United States ("GAAP") are useful measures of operations. EBIDTA, Adjusted EBITDA and pro forma net loss per share are non-GAAP measures. Inpixon defines "EBITDA" as net income (loss) before interest, provision for (benefit from) income taxes, and depreciation and amortization. Management uses Adjusted EBITDA as a metric for which it manages the business, and Inpixon defines "Adjusted EBITDA" as EBITDA plus adjustments for other income or expense items, non-recurring items and non-cash items. Inpixon defines "pro forma net loss per share" as GAAP net loss per share adjusted for stock-based compensation, amortization of intangibles and one-time charges including loss on the exchange of debt for equity and provision for valuation allowances.
Management provides Adjusted EBITDA and pro forma net loss per share measures so that investors will have the same financial information that management uses, which may assist investors in assessing Inpixon's performance on a period-over-period basis. Adjusted EBITDA or pro forma net loss per share is not a measure of financial performance under GAAP, and should not be considered an alternative to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA and pro forma net loss per share have limitations as analytical tools and should not be considered either in isolation or as a substitute for analysis of Inpixon's results as reported under GAAP.
For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the "Reconciliation of Non-GAAP Financial Measures" table accompanying this press release.
Inpixon Contacts
General inquiries:
Inpixon
Email: marketing@inpixon.com
Web: inpixon.com/contact-us
Media relations:
Offleash PR for Inpixon
Email: inpixon@offleashpr.com
Investor relations:
Crescendo Communications, LLC
Tel: +1 212-671-1020
Email: INPX@crescendo-ir.com
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