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CEO, Cliff Emmons, and COO, Karen McNemar discuss the recently announced financial results for its third quarter ended September 30, 2022.
Cliff Emmons, CEO of IIOT-OXYS, Inc. (Oxys) stated, “We’re pleased to announce that we kept our revenue promise for the quarter ended September 30th, 2022. As predicted, third quarter revenue exceeded that in second quarter. This makes two consecutive quarters of revenue, which the Company hasn’t done since before the pandemic. We are pleased that the momentum of the second quarter’s revenue continued into the third quarter and we expect it will continue through the fourth quarter. We also expect revenue for the second half of 2022 will exceed that generated in the first half of 2022. In total, we expect that total revenue for 2022 will be approaching 2019 levels. We continue to gain traction with strategic partners, customers, and potential customers in our key two markets: Smart Manufacturing / Industry 4.0 and Structural Health Monitoring (SHM). These are both high growth markets. Market research shows the worldwide Industry 4.0 market in 2021 was $64.9 billion USD and is projected to be $165.5 billion USD by 2026 (20.6% CAGR)1. Also, the worldwide Structural Health Monitoring industry was $2.0 billion USD in 2021 and will reach $4.0 billion USD by 2027 (CAGR of 14.6%)2. Through our collaborations with Aretas Sensor Networks, we have access to a third market, Indoor Air Quality Monitors, which was estimated at $3.7 billion USD in 2020 and projected to reach $6.4 billion USD in 2027, growing at 8.2% CAGR3.”