Fobi AI Inc - FOBIF stock

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Fobi.AI (OTC: FOBIF, TSX.V FOBI) began operations in its current iteration in June of 2019 and is based out of Vancouver, British Columbia, Canada. The company was formerly known as Loop Insights Inc., before changing its name to Fobi in 2018. At its core, Fobi provides data analytics solutions to enterprise customers through its cloud-based APIs that can be integrated directly into existing sites and platforms. Fobi is aiming to be a leader in the field of digital transformation by providing its customers the ability to analyze data in real-time to improve operational efficiencies and increase customer engagement through technology. Fobi trades on both the Canadian Venture Exchange as well as the US OTC markets.

Fobi offers several software solutions for which it charges an implementation fee in addition to recurring subscription revenues. It's PassPro and PassCreator software allows companies to provide its customers with membership services that directly integrate into digital and mobile wallets. Qples is a mobile-based coupon service where companies can directly deliver new and exclusive offers directly to their clients.[1]

During the COVID-19 pandemic, Fobi was active in establishing new technology that will help shape the future of event management. CheckPoint is a new software that digitizes registration, ticketing, and entries for attendees directly through their smartphones. AltID is a mobile wallet integration that holds verifiable credentials for identity management. Fobi also partnered with Draganfly Innovations to provide a technology that integrates rapid vital sign testing and results for your event management services.[2] Fobi’s products and services are used in a number of different industries including casino and gaming, sports and entertainment, hospitality, and retail.

As of May 2022, Fobi has a market cap of $99 million. A quick glance at its balance sheet shows that Fobi was pre-revenue until 2021 where it recorded its first annual revenue figure of $157,000. Its trailing 12-month revenues as of May 2022 total $1.66 million which shows significant growth in a short period of time. Taking a quarterly view, revenues have grown steadily over the previous four quarters.[3] While cost of expenses has also risen, the SaaS model should balance this out over time with increasing and recurring revenue streams.

So far in 2022, it is evident as to why Fobi has seen such a rapid rise in revenues. In January, Fobi agreed to a partnership with a leading global insurance provider for digital proof of insurance in Europe. It also partnered with Block (NYSE:SQ) to provide retailers with real-time data analytics. In March of 2022 Fobi agreed to a multi-year agreement with Vericast, a leader in the retail coupon industry. In April of 2022, Fobi announced another key contract with a leading US stock exchange to provide digital venue identification and access management services.[4]

In April of 2022, Fobi announced the launch of a wholly owned subsidiary called PulseIR which will work to digitize investor relations for the capital markets. PulseIR will leverage Fobi’s Investor Pass software while also utilizing its artificial intelligence and mobile wallet technologies.[5]

Fobi.AI has partnered with some of the largest names in the retail and eCommerce industries including Shopify (NYSE:SHOP), Lightspeed (NYSE:LSPD), Oracle (NYSE:ORCL), and Block. It also works directly with global brands like MGM Resorts International and the NCAA governing body.[6]

Some of Fobi’s larger competitors include Zendesk (NYSE:ZEN), Salesforce.com (NYSE:CRM), as well as private companies like Tidio, Qlik Sense, and Birdeye.[7]

OTC Symbol: FOBIF | OTC Tier: OTCQB


The page is authored by: Caesar