Annual Revenue: $1,749,000
Net Cash Flow: $545,719
Location: New Jersey
This unique Mobile Solutions company has a predominant focus on providing law enforcement / public safety solutions both domestically and internationally. Company has recently introduced it’s new product/services within the law enforcement market and has created an immediate ROI within the first year.
Its contracts, in this space, have allowed them to cross-sell their new product, creating a new revenue stream beyond it’s existing services sold… It offers a combination of hardware and software solutions that are highly scalable and secure, solving the needs for code enforcement, mobile biometric identification & validation, Field workforce automation. Their primary products are e-citation software and biometrics hardware and software solution.
According to research by various market research firms the global biometrics technology market size was valued at USD 14.40 billion in 2017 is likely to reach USD $42 Billion by 2023 USD 59.31 billion by 2025. Company is conservatively Proj & on track to hit $1.7M in 2019. Thru 2022 based on existing demand revenue will soar to $6.4m with an SDE of $2.7m.
Company does have a contract with the offshore entity in India that is not owned by this company. The contract is for $25,000/month and they provide development resources. They employ 9 Engineers & 1 Manager in addition to the staff of 7 here in the USA.