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Flexpoint Sensor Systems Reports Record Year

By Ken Briodagh December 28, 2016

IoT company Flexpoint Sensor Systems has announced that 2016 was a record year for the company in both revenue and product expansion of its Bend Sensor product. Looking ahead to 2017, the company expects the majority of growth to come from multiple markets including toys, shoes, gloves, medical and automotive. 

Below are some of Flexpoint's accomplishments in 2016:

  • Established an on-going relationship with an American-based, Fortune 500, global toy manufacturing company. In its first year, annualized volume has been in excess of 800,000 sensors.
  • Reached production readiness phase with Tier 1 automotive manufacturer featuring the patented Flexpoint Horn Actuation system.
  • Expanded glove applications, incorporating the Bend Sensor across industries including: a robotics toy kit from ZeroUI; a medical virtual reality rehabilitation glove and system from “Gloreha Sinfonia;” medical rehabilitation glove system from Neofect; launch of the industry’s first consumer virtual reality glove by Manus VR; technological glove designed for the hearing impaired that converts Sign Language into speech in real-time from Turtela Technology Solutions; Queen's University Human Media Lab developed the industry-first, patented flexible smart phone, ReFlex, and other inventive technologies such as PaperTab and Holoflex which all incorporate the Bend Sensor.

Below are some of Flexpoint's expectations for 2017:

  • Toy related purchase orders are expected to significantly increase from 2016.
  • Flexpoint expects growth in the shoe (wearable) related market segment as multiple customers come to market with different adaptations of applications.
  • As the Virtual Reality and Augmented Reality (VR/AR) market segments continue on their dramatic growth path, Flexpoint expects to realize significant revenue from as many as ten different customer sources in 2017.
  • Flexpoint will expand its channel/distributor partner presence globally in 2017 which will result in significant contribution to revenue.
  • There are several existing Flexpoint customers planning to bring new products to market leveraging the Bend Sensor technology.
  • IoT/IIoT applications featuring the Bend Sensor will increase as these types of applications continue their dramatic ascent across a variety of markets including medical and power/energy.
  • Multiple medical products from various companies, including Haemoband, will achieve commercialization in 2017.
  • Expected achievement of Cash Flow Positive

“Our diversity of partners and depth of projects has really expanded in 2016 and we expect that to increase in 2017,” said Paul Sexauer, VP, Sales and Marketing, Flexpoint. “Our main sources of revenue have begun to shift, and we expect the bulk of revenues to come from our relationships with industries including toys, shoes, gloves applications (specifically virtual reality) and automotive. 2016 was a record year for us and we expect to develop our on-going relationships further in 2017 as well as to develop new opportunities.” 




Edited by Alicia Young

Editorial Director

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