Lightwave sees revenue increase by whopping 98%
Smart home solutions provider, released promising results for Q3 2019 today, boasting a 67% increase to £1.27 million in revenue in Q3, compared to Q3 2018.
Highlights of the results include a new partnership with Google to jointly market the tech giant’s Lightwave compatible smart speakers. The deal established Lightwave as the “first installed Smart Lighting manufacturer in the UK to offer the convenience of voice-controlled lighting in one starter kit purchase.”
And the Google agreement is likely a contributor to the whopping 98% increase in revenue to £3.77 million Lightwave brought in for the first three quarters of this financial year.
As is a new European distribution signed with Tech Data and the placement of a first order worth £500,000.
Overall, however, the results show how Lightwave as a whole, rather than individual deals alone, is gaining momentum.
CEO of Lightwave, newcomer Jason Elliott celebrated the news: “Since I joined the Company a year ago, Lightwave has made considerable progress. As well as continuing the strong sales growth, we now have in place a number of further initiatives to maintain this momentum.
The recently announced Tech Data distribution agreement for Europe and joint marketing with Google continue to position the Company for its full year revenue to more than double last year's £2.8 million."
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