Utility, Inc. Q2 2021 Bookings Top $20M With 14 New Partners Added

Nearly 50% year-over-year increase in officers using the patented automatic video recording and evidentiary management software ecosystem nationwide

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Utility, Inc.

Aug 04, 2021, 14:11 ET

ATLANTA, Aug. 4, 2021 /PRNewswire/ -- Coming off a record-breaking first quarter, Utility, Inc. announced additional record growth in Q2 with contract bookings increasing more than 71% over Q1. The positive momentum carried over into revenue as well, increasing 49% over Q2 2020. Recurring revenue is also up more than 51% from that same period, accounting for more than 90% of the overall revenue this quarter.

New contract bookings in the second quarter of 2021 were executed with two county agencies; one higher education agency, Western Kentucky University Police Department; and 11 city police departments, including Crawfordsville, IN, La Porte, TX, Nashua, NH, Overland, MO, and Stafford Township, NJ. Overall, new contracts this quarter committed more than 680 new law enforcement personnel to the platform, amounting to a nearly 50% increase over Q2 of 2020. In addition to new contract bookings, there were 10 renewal contracts executed in the second quarter, totaling $8.4M.

Overall, licensed devices connected to Utility, Inc.'s AVaiLWeb^® cloud-based digital evidence management platform, such as the BodyWorn™ automatic video camera and the RocketIoT^® in-car video and communication system, increased by 26%. Showcasing its ongoing commitment to offering best-in-class, industry-leading technology, Utility introduced a new, purpose-built camera, along with an enhanced user interface and messaging capabilities for RocketIoT users as part of the RocketIoT 3.0 update.

Additional highlights for Utility, Inc. for the quarter include:

Renewals for the quarter again surpassed the 95% level
More than 16,500 sworn law enforcement personnel are active on the platform, up 49% over Q2 2020
Over 7,400 TB of evidence now actively managed on the platform, up 70% over Q2 2020
Exceeded 44,000 total users on the platform

"Our commitment to customers and helping them serve their communities continues to reinforce our positive reputation as a partner for law enforcement across the country. This is clearly evidenced by our 71% increase in contract bookings from Q1 of this year," said Michael Nark, President and CEO of Utility, Inc. "We will continue to innovate and improve our products to offer the best services possible to those in the law enforcement, corrections, utilities and emergency services industries."

The Utility, Inc. ecosystem includes a variety of cameras, sensors and devices as well as situational awareness software solutions for law enforcement, first responders, transportation agencies and utility providers. To learn more about Utility, Inc. and its technology solutions, please visit bodyworn.com.

About Utility, Inc.
Utility, Inc. provides law enforcement officers with an intuitive platform for effectively capturing, managing and releasing video evidence. Utility's BodyWorn™ camera and RocketIoT^® in-car video system incorporate real-time communications, policy-based automatic recording functionality and real-time GPS positioning for the best situational awareness possible during critical times. The BodyWorn camera utilizes unique communication capabilities and specific recording capabilities to initiate video recording automatically. Automatic recording functionalities are set by individual law enforcement departments based on their recording policies. BodyWorn cameras may operate singularly or in conjunction with RocketIoT and come equipped with built-in accelerometers, prone positioning and light bar sensors to detect doors opening, rapid motion, Geofence entry, etc. Automatic recording functionalities can be updated at any time via the video management system, AVaiLWeb^®. The AVaiLWeb cloud-based digital evidence management solution securely stores captured evidence and offers SmartRedaction™.

SOURCE Utility, Inc.