Urbanimmersive reports lower third-quarter revenues

“During the quarter, despite having once again to navigate through a particularly difficult real estate market, we are satisfied of the results achieved,” said Ghislain Lemire, president and CEO. “The addition of dollhouse to our 3D immersive tours and the integration of our first three photography agencies allow us to enhance our already complete set of solutions but above all to increase the adoption of our SaaS solutions such as our immersive 3D tours and UiMeet3D. This important addition of a photography service also diversifies our activities and increases our revenues and profits.

“Given the strong growth observed recently in the use of our 3D immersive tours and floor plans, our market positioning, our good financial situation, in particular with cash in excess of $2.0 million and a working capital of $1.5 million, support from our bank and an expected return to normal in real estate activities, this gives us the flexibility to pursue our accelerated growth plan and full confidence in the future of Urbanimmersive.”