Otonomo Provides Business Updates for the Nine Months Ended September 30, 2021
“We are in the process of negotiating new partnership and other relationship agreements and continue to build relationships that will have potential to generate significant revenue over time. However, it may take time before the impact of such relationships are reflected in our financial results. We are focused on reinforcing and expanding the technological infrastructure
Third Quarter 2021 Company Highlights and Recent Developments
- Signed two new OEM agreements and one expansion OEM agreements for connected vehicle data: These agreements cover both aggregate and personal data flows. Overall, we increased the number of OEM agreements from 19 to 21 during the third quarter of 2021.
Otonomofor Salesforce on the AppExchange: The app enables enterprises, of all sizes, to seamlessly merge customer and vehicle data to optimize and grow their businesses.
- Otonomo Partnered with
LeasePlan: This strategic partnership offers valuable insights into fleet vehicle performance and behavior.
- Listed on Nasdaq:
Otonomobecame a publicly traded company and in the process raised approximately $255Mthrough its business combination and related new equity investments, enabling us to push forward on our vision.
- Our multi-layer data approach is gaining traction in the market: We are successfully transitioning certain data away from the traditional FCD (Floating Car Data) limited dictionary to a multi-layer sensor data environment that includes weather, hazard, friction, road signs, construction and more.
- Experienced Executives Joined Our Management Team: We also announced the appointment of two new executives
Anders Truelsenas Chief Revenue Officer and Doron Simonas EVP Corporate Development and Strategy.
- Added a New Data Partner:
Otonomowas selected by OBI+ as a data partner, turbo-charging its cloud-based fleet management services with Otonomo’s rich, connected vehicle data.
- Recently Acquired Neura Secured Several Mobility Intelligence Deals, During the Three Months Ended
September 30, 2021, including transactions relating to:
- Transportation planning: a large commercial planning transportation provider leveraged the Neura solution to deliver services based on mobility patterns,
- Electrical Vehicle Charging Stations (EVCS): a leading European EVCS company utilized Neura to find optimal locations based on utilization, performance, and ROI projections, and
- MaaS: a Brazilian MaaS market leader used Neura to maximize ridership and operational efficiency, based on visibility into the actual demand for micro-mobility services.
- We are in discussions with Mitsubishi regarding entry into a new commercial arrangement that will align with the technological and market needs of both parties. In the meantime, our Vehicle-Data Marketplace Agreement and IOT HUB Software License Agreement with Mitsubishi are no longer in place.
- Revenues for the nine months ended
September 30, 2021were $657, 000.
- Cash and cash equivalents as of
September 30, 2021were approximately $232 million.
2021 Full-Year Guidance
The revenue guidance for fiscal year 2021 included in this release is based on the preliminary information available to us at this time and may vary based upon completion of the financial closing procedures and final adjustments.
Conference Call Details
Otonomo’s management will host a conference call to discuss the third quarter financial results today,
Participants can choose to view the session via a live webcast from a link on Otonomo’s website at https://edge.media-server.com/mmc/p/f4oiarxe.
Participants can also choose to call in. They will receive a unique dial-in number upon registration, which enables immediate access on the day of the call. Please begin by placing your call 10 minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number. Participants may pre-register at any time, including up to and after the call start time.
The conference call will begin at:
8:30 a.m. Eastern Time
5:30 a.m. Pacific Time
A replay of the conference call will be available from
More information is available at otonomo.io
This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by
For additional information, please contact:
Jodi Joseph Asiag
Investor Relations Contact:
Source: OTONOMO TECHNOLOGIES LTD