BC Business
The company's latest quarterly report reveals major deals with American Smart City infrastructure projects.
Like many of us, Vancouver-based software company Carl Data Solutions has been through some big changes during the pandemic. Over the past few years, the business—which monitors real time series data to make AI-based predictions for industry and Smart City infrastructure applications—has seen transitions in leadership, product innovation and sales. Now it’s starting to reap the results.
Its latest quarterly report (Q3 – 2022) marks the company’s largest sale since its launch in 2015. The ribbon goes to Los Angeles County Sanitation Districts (LASD), which runs a regional wastewater collection system. The LASD, which collectively treats 400 million gallons of water per day, has been the US’s biggest player in recycling water. The two-year renewable contract enables the Carl Data Solutions platform to monitor everything in terms of water and sewer in LA County, where water is an invaluable resource.
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That sale was followed by another in April, where the big-data-as-a-service (BDaaS) firm will lend its services to another American Smart City infrastructure project. “Those two sales represent over seven figures of revenues for our corporation,” says CEO Jean Charles Phaneuf, who took over the position last year and has a background in investment banking and technology. “We’re not at the stage of deploying our predictive stuff for the time being, but we are already starting to discuss those applications.”
A major highlight from this quarterly report is a 23 percent growth in revenue from the last quarter ($362,880 in Q2 to $448,482 in Q3). Company expenses for the nine months preceding March 2022 also declined by 30 percent from the same time period in 2021.
The new contracts mark new opportunities for the company, which has 30 staff and 12 new upcoming products. It also hired Industrial Internet of Things (IIoT) expert David Fromont as vice president to deploy its new generation of software.
With transformations in leadership and innovation, Carl Data Solutions is looking to commercialize its products and serve more clients, according to Phaneuf. “Prediction is always sexy,” he maintains. “And you bring more value to the client when you’re doing some prediction.”