Empowering Government Efficiency via Enterprise & Mobile Solutions
Announces Acquisition Agreement Valuing the Company at $33.3 Million
https://hsgovtech.com/
HS GovTech Solutions Inc. “is empowering governments efficiency” which in turn has powered them to become an industry leading technology company providing both enterprise and mobile internet-based applications to over 500 state, local and federal government organizations across North America.
More Than Just Lip Service
RECORD REVENUE:
- Total revenues for FY22 increased by 6% to $6.03M from FY21.
- Subscription revenues grew by 14% to $4.47 million in FY22, with the largest contract's full-year subscription revenue to be recognized in FY23.
- Professional services revenue in FY22 was $1.56 million, and FY23 is expected to include a significant amount of contracted professional services delivery.
- Annual Recurring Revenue under contract increased to $6.01 million at December 31, 2022, compared to $4.16 million at December 31, 2021.
- FY22 built momentum and energy in customer markets, with plans to carry it forward into FY23.
Q2 2023 HIGHLIGHTS
(all comparisons are to Q2 2022, unless otherwise noted)
- Total revenues increased in Q2-23 to $2.04 million, vs. $1.83 million, an increase of 11%
- Subscription revenues increased to $1.46 million, vs. $1.08 million.
- Professional Services revenues decreased to $0.58 million, vs. $0.75 million.
- Adjusted EBITDA improved to a loss of $0.58 million, vs. a loss of $0.87 million.
- Annual Recurring Revenue under contract increased to $6.48 million at June 30, 2023, compared to $6.01 million at December 31, 2022, and $4.82 million at June 30,2022.
As discussed in the Company's Q2 sales update on July 11, 2023, once all deals awarded through the end of Q2-23 are fully executed, ARR is expected to increase to $7.1 million.
MAJOR CONTRACTS:
- Riverside County California (New) $1.3M
- Sacramento County California $1.55M
- Fraser Health, BC $1.01M
- Larimer County, Colorado and Ogle County, Illinois $517,400
- Anaheim Fire and Rescue Department $193,990
- $340,000 in New Contracts with Health Canada, Johnson County, MO, Shelby County, TN and KFLA in Ontario
FINANCINGS:
- $5.2 Million financings closed
· HS GovTech Solutions' HSCloud Suite platform is one of the only self-serve enterprise SaaS platforms in the government space.
· The company is focused on revolutionizing every aspect of the regulatory process within state, provincial and local government; from licensing to inspections, to disease surveillance, to financial management. HealthSpace's platform handles it all.
· HS GovTech Solutions is now entering the FinTech space by developing an online and mobile payment platform that streamlines the intake of government revenue for the agencies it serves.
THE MARKET
WHY HS GOVTECH?
WHAT DOES HS GOVTECH OFFER?
HS GovTech offers a SaaS platform that combines back-office data management, field staff mobile apps & online engagement for private industries. Products include:
HSCloud
Fully Configurable, User Friendly, Cloud Platform
FULLY CONFIGURABLE
● Organizes data in a user-friendly manner.
● Retrieves necessary documents, forms, and information quickly and easily.
● Reduces staff backlog and the need for IT.
EFFICIENT
● Organizes government’s interaction with the public in a simple and efficient manner.
● Simplifies routine processes i.e. issuing permits for local businesses, issuing fines, performing health and safety inspections, and managing disease surveillance.
PAYMENT SOLUTIONS
● Provides the public with self service capabilities.
● Customer-facing platforms simplify interactions with government.
● Provides significant time and cost savings.
● Enhances speed of revenue collection.
HSTouch
Conduct paperless field inspections from any place, at any time with our intuitive suite of native apps for iOS, Android and Windows.
My Health Department
My Health Department (MyHD) is an interactive dashboard that positions HealthSpace as an extension of government. MyHD acts as a conduit for direct communication between private industry and government agencies and allows for future revenue-generating opportunities for HealthSpace.
THE ULTIMATE SOLUTION FOR:
● Private Industry Compliance
● Physical Payments & Manual Paperwork
● State & Local Government
● Back-Office Information & Filing
HSPay
An Online Mobile Payment Platform
Creating a unified online and mobile payment platform for government revenue collection.
● Business Pay Required Fees
● 0.5-1% Per Transaction Revenue
● Gov’t Departments Use Funds for Operation
Government agencies collect more than $1bn annually in licensing fees in the U.S. alone.
GOVCALL
A full featured telegov and telehealth conferencing platform that is fully integrated within HSCloud.
NORTH AMERICAN PARTNERS
FINANCIAL OUTLOOK
Significant Market Opportunity Within Government Tech
Environmental Health ($120m+ ARR)
● Permit restaurants, pools, hotels and more
● Ensure food safety
● Regulate millions of private businesses
● 80,000+ Users
Public Health ($180m+ ARR)
● Contact tracing
● Disease surveillance
● Case tracking and patient monitoring
● 120,000+ Users
Agriculture ($20m+ ARR)
● Track food supply-chain
● Permit farms and packaging plants
● Regulate large scale food facilities
● 15,000 Users
