VANCOUVER, BC / ACCESSWIRE / May 25, 2022 / AMPD Ventures Inc. ("AMPD" or the "Company"), (CSE:AMPD) (OTCQB:AMPDF) (FRA:2Q0), is pleased to provide shareholders with a preview of FY 2022 results and summary of key progress.
The exceptional team at AMPD continues to execute and build upon its plan of building a full 360-degree Metaverse company despite experiencing a challenging downturn in the technology sector markets.
HIGHLIGHTS
- $1.7M in Q3 2022 revenue (Dec 2021 - Feb 2022), representing a 275% increase compared with Q3 2021.
- $2.3M in YTD 2022 revenue (Jun 2021 - Feb 2022), doubling that of the same period YTD 2021.
- $0.9M in forecasted Q4 2022 revenue (Mar 2022 - May 2022), doubling that of Q4 2021.[1]
- $3.2M in forecasted FY 2022 revenue (Jun 2021 - May 2022), doubling that of FY 2021.[2]
- Departure Lounge acquisition building upon AMPD infrastructure foundation to develop a full 360-degree Metaverse company.
FY Q3 HIGHLIGHTS
Building upon the momentum of its oversubscribed private placement towards the end of November 2021, AMPD quickly finalized the acquisition of Departure Lounge Inc., which was instrumental in building upon AMPD's position as an infrastructure provider for next generation applications to develop a full 360-degree Metaverse-focused organization.
As Joseph Morton at Equity Guru notes in an article from February 2022, the AMPD group now has both the computing infrastructure necessary to host the Metaverse - 'the levers and hydraulics and the workings behind the curtain' - but now also the 'wizard needed to run the show' as Departure Lounge adds the technologies required to access the Metaverse, the experienced creative team to help build the Metaverse, and the Web3 team to help monetize the Metaverse.
Since the acquisition, Departure Lounge has secured its headquarters, hired industry veteran, Adam Rogers, to lead its creative services team, established a Web3 team to capitalize on the opportunity represented by the intersection of Web3 and Metaverse, announced the formal launch of its partnership with volumetric capture pioneers, Metastage Inc., and entered an education collaboration agreement with the Centre for Digital Media through which it will be the keystone partner in a planned Metaverse Innovation Centre.
Buildout of the facility is progressing on schedule and is expected to be completed by mid-June with initial bookings expected shortly thereafter. Departure Lounge CEO, James Hursthouse spoke at several high-profile Metaverse conferences and events, including the Vancouver International Privacy & Security Summit (VIPSS), the Metaverse 2.0 Global Summit, and the International Spark 2022 Visual Effects Conference, building awareness and generating significant early-stage interest in the company and its services.
In January 2022, AMPD added to its roster of high caliber senior leaders with the appointment of Ian Wilms in the position of Vice President of Business Development and Government Affairs. AMPD was subsequently accepted into the 'Accelerate Growth Service' program, which was established by the federal government to help support Canadian companies with high growth potential via assistance and guidance on a wide range of government programs designed to supercharge growth.
On Feb 2nd, 2022, the Company announced the expansion of The Learning Factory Digital Twin Project in partnership with Canada's Digital Technology Supercluster.
On February 9th, the Company signed an agreement with Parsec Cloud Inc., now a wholly owned subsidiary of Unity, Inc (NYSE: U), to enhance the AMPD Virtual Studio offering with Parsec's ultra-low latency streaming technology. Parsec's ultra-low latency streaming technology has been designed to enable anyone in the world to remotely interact with real-time 3D content and empowers some of the world's most inspiring and creative companies to freely work and play from anywhere, on any device, on their own terms.
AMPD Virtual Studio is an integrated suite of fully composable, private cloud-based solutions designed to create the ultimate 'infrastructure-less' studio for digital content creators and specifically addresses the opportunity represented by the ongoing transition to virtual desktop infrastructure (VDI). It is estimated that the virtual desktop infrastructure (VDI) market will reach USD $30B by 2026, up from USD $11B in 2020, representing 17% annual CAGR growth during the forecast period.[3]
On Feb 28th, 2022, the Company signed an agreement with Versatile Media Inc. through which it will sell and support the Versatile Virtual Production System ("VPS"), a robust, end-to-end suite of technology solutions that offers many advantages over current virtual production workflows. AMPD demonstrated the incredible capabilities of the Versatile VPS to numerous global studio executives at the recent NAB Conference in Las Vegas.
Overall, the Company enjoyed strong third quarter financial results, with a 275% increase in revenue compared with the same quarter in FY 2021, with year-to-date sales for FY 2022 YTD (Jun-Feb) 104% above 2021 YTD.
FY Q4 HIGHLIGHTS
FY Q4 saw the deployment of AMPD POD base infrastructure environments to both Los Angeles and Amsterdam. PODS are designed to enable potential customers to evaluate AMPD's products and services and demand is high in both the US and Europe.
The company continued to enhance the functionality of its AMPD Virtual Studio offering through an agreement with Hammerspace, Inc. Hammerspace is a global leader in connecting global users with their shared content and applications across data center infrastructure and cloud services. Hammerspace data orchestration will be integrated with the workflow management tools in AMPD Virtual Studio to make high-performance local access to global data without making multiple copies of that data a reality. Thanks to the agreement between AMPD and Hammerspace, AMPD customers will be able to access and migrate data wherever they need it, across regions and even multiple cloud vendors. This will make the adoption of hybrid solutions easier and eliminate the need to abandon recent storage investments as part of a migration to AMPD Virtual Studio.
The strong growth in the third quarter has continued into Q4, with forecasted revenue of $0.9M, a 105% increase compared with Q4 2021, and forecasted total year sales for FY 2022 YTD (Jun-Feb) of $3.2M, doubling revenue compared with the full year FY 2021.[4]
"I'd like to thank AMPD investors and partners for their ongoing support and belief in what we are doing, even during challenging market conditions," said Anthony Brown, CEO at AMPD Ventures. "We continue to be excited about our growth and progress since the completion of the financial raise in November and look forward to sharing more exciting news in the near future."
About AMPD Ventures Inc.
AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as 'the hosting company of the Metaverse.' Through a mix of infrastructure as a service ("IaaS") and an upgraded, high-performance cloud offering, we are meeting the low-latency requirements of multiplayer video games and eSports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades.
AMPD Ventures Inc. (CSE:AMPD), through its operating subsidiaries, AMPD Technologies Inc., Cloud A Computing Inc., and Departure Lounge Inc., provides a range of high-performance computing infrastructure and technology solutions designed to host, build, and monetize the Metaverse.
Additional information about the company is available on SEDAR and on our websites at http://www.ampd.tech, http://www.dlxr.ca, and https://www.clouda.ca
For further information please contact Investor Cubed Inc.:
Neil Simon, CEO
Telephone: (647) 258-3310
Email: nsimon@investor3.ca
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ "Anthony Brown"
Anthony Brown
CEO & Director
AMPD Ventures Inc.
Telephone: 604-332-3329
Email: ir@ampd.tech
Cautionary Statement
Forward Looking Statements
This news release contains statements and information that constitute 'forward-looking information' within the meaning of Canadian securities legislation. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of our management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the market's response to volumetric capture, virtual reality, Web3, and mixed reality technologies.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of AMPD to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties; uncertainties in regard to the development and direction of cloud computing solutions and virtual production; the possibility of competing superior technology; uncertain capital markets; other risks related to the inability of a party to perform its obligations, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.
Although the forward-looking information is based on our management's reasonable assumptions at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. AMPD does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws. All forward-looking information contained in this news release is qualified by this cautionary statement.
[1] All Q4 financial are forecasts, and all FY 2022 financials are unaudited.
[2] All Q4 financial are forecasts, and all FY 2022 financials are unaudited.
[3] https://finance.yahoo.com/news/17-cagr-growth-virtual-desktop-120800650.html
[4] All Q4 financial are forecasts, and all FY 2022 financials are unaudited.
SOURCE: AMPD Ventures Inc.
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