TORONTO, April 18, 2023 — [crocon media] ARHT Media Inc, a Toronto-based holographic technology company, has released its fiscal 2022 operating results. The company, which provides holographic telepresence solutions that enable real-time two-way communication, reported significant growth in revenue and gross profit over the past year.According to the news release, ARHT Media generated revenue of $4.1 million in fiscal 2022, an increase of 29% compared to the previous year. The company’s gross profit also increased by 80% to $1.3 million during the same period. The company attributed this growth to its expanding client base and increasing demand for its holographic telepresence solutions.
ARHT Media CEO Larry O’Reilly commented on the company’s growth, saying, “We are pleased with our strong fiscal 2022 results, which demonstrate the success of our strategy to expand our presence in key markets and grow our customer base.” He also noted that the company’s recent acquisition of the global hologram distribution rights for “The Michael Jackson HIStory Show” would help further drive revenue growth.
In addition to its financial results, ARHT Media also highlighted some of its recent accomplishments and partnerships, including:
- Collaborating with the Hong Kong Trade Development Council to provide holographic telepresence solutions for its virtual trade shows
- Providing holographic telepresence solutions for events hosted by Microsoft, Deloitte, and other major corporations
- Launching its ARHT On Demand platform, which allows customers to access pre-recorded holographic presentations
Overall, ARHT Media’s fiscal 2022 operating results demonstrate the growing demand for holographic telepresence solutions in various industries, and the company’s ability to capitalize on this demand. As the technology continues to evolve and become more widely adopted, ARHT Media is well-positioned to continue its growth and expand its presence in the global market.
Original News release: https://www.globenewswire.com/news-release/2023/04/18/2649008/0/en/ARHT-Media-Announces-Fiscal-2022-Operating-Results.html
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