Urbanimmersive Media Release
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Video: Urbanimmersive Announces Its 2022 Second Quarter Financial Results | Video courtesy of www.WGAN-TV.com | WGAN Forum Podcast #104

WGAN Forum Podcast #104

Urbanimmersive Announces Its 2022 Second Quarter Financial Results

SAINT-HUBERT, Quebec, Thursday May 26, 2022 (GLOBE NEWSWIRE) -- Urbanimmersive Inc. (“Urbanimmersive,” the “Company” or “UI”) (TSV-V UI) (OTCQB: UBMRF) today announced select financial results and presents business highlights for its second quarter ended March 31, 2022. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR.

HIGHLIGHTS

1. For its second quarter of 2022 (Q2-22), the Company generated total revenues of $2,182k compared to $982k for Q2-21, an increase of $1,200k or 122%;

2. For Q2-22, the Company sold 3,806 immersive 3D tours compared to 1,122 tours in Q2-21, an increase of 2,684 tours or 239%;

3. In an unfavorable real estate market, in particular with historical-low inventories and number of transactions down 20% over last year combined with high sales turnover, the Company managed to maintain its transactional photography service revenues at last year's level while continuing to migrate its customers to a monthly subscription model;

4. Following the end of the low season as of March 31, 2022, the Company had liquidities totaling $1.2m, a similar level to December 31, 2021 ($1.3m);

5. During Q2-22, the Company has integrated the newly acquired real estate photography agencies into its business solution platform for photographers while developing and launching an innovative online ordering system along with a route optimization tool, an in-house photo editing service based in France and a centralized and automated payroll system for all its pay-per-job employees/freelancers.


Source: Urbanimmersive

ACHIEVEMENTS

“During the quarter, we put a lot of effort into integrating all the photography service businesses acquired over the past few months. This integration process notably includes the development and the launch of an online ordering system including a route optimization tool, an internal photo editing service in France and a retribution system for our pay-per-job employees and freelancers (photographers, 3D modelers and photo editors), all this in order to increase our productivity, allow the Company to track performance in real time and increase profitability generated for every single order. We also continued to improve our monthly subscription package including UiMeet3D and the migration of our photography service businesses into our integrated business solution for real estate photographers. We also continued to add some artificial intelligence into the production of our 3D tours and floor plans.

All these significant improvements now allow Urbanimmersive Group to offer a very unique business solution for real estate photographers both in term of all its functionalities or its efficiency (productivity gains) and this, 100% managed in-house. The strong demand for our 3D tours and the success to date in the sale of our monthly subscription packages to real estate brokers further confirm our good strategic positioning and our unique competitive advantage. However, although we are still navigating in a seller's real estate market combined with a number of listings and transactions near historical lows throughout North America and which directly impacts Urbanimmersive's revenues, those recent significant progress give us full confidence on the promising future of the Group," said Ghislain Lemire, President and CEO of Urbanimmersive.

The Company has also issued 113,829 shares at a price of $0.235 to some Officers and employees as variable compensation covering the most recent quarter.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

Investor Video Conference Call

UI will be hosting a video conference to discuss those second quarter financial results and answer questions at 1p.m. (ET) on Thursday, May 26, 2022. To participate to the video conference, please use the following link: https://urbanimmersive.zoom.us/j/82214077104

About Urbanimmersive

Urbanimmersive develops and commercializes real estate photography technologies and services focused on redefining industry visual content standards. The Company all-in-one platform enables high-volume photography businesses to increase operational productivity delivering feature-rich 3D tours and floor plans, leading-edge property websites and high-resolution AI-indexed images. The Company operating segments include software (SaaS), 3D photography equipment and, in a growing number of North American cities, technology-powered real estate photography service business units leading the industry photo-shoots standards transformation. Learn more at urbanimmersive.com.

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Source: Urbanimmersive via Globe Newswire

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Text Me 5 Minutes Before WGAN-TV is Live | WGAN-TV | Real Estate Pros: Intro to Urbanimmersive Real Estate Photography Services | Guests: Urbanimmersive VP, Business Development and Partnerships François-Hugues Liberge | Episode: 146 | Thursday, 9 June 2022 | Urbanimmersive website | WGAN-TV Podcast


www.Urbanimmersive.com


www.Urbanimmersive.com

Urbanimmersive Links

1. Urbanimmersive Website
2. Urbanimmersive Facebook Page
3. Urbanimmersive YouTube Channel
4. Urbanimmersive LinkedIn Page
5. Urbanimmersive on Twitter
6. Urbanimmersive VP, Business Development and Partnerships François-Hugues Liberge