Company reports a record-level of annual bookings with more than 13,000 new devices under contract
ATLANTA (February 8, 2022) – Utility, Inc. announced today its close to the 2021 fiscal year, with annual bookings of $60 million. The company’s growth can be attributed to record-breaking quarters throughout the year, including Q4, for which highlights included new contracts with more than 20 agency partners. Recurring revenue increased by 43% year-over-year along with a nearly 40% increase in overall revenue year-over-year. In 2021, recurring revenue accounted for more than 93% of the total revenue generated for the year.
2021 continued to be defined by ever-increasing demands for transparency between Utility’s forward-thinking customers and the communities they serve. The innovative technology company responded to the increased demands with a range of new innovations to support agencies’ needs for policy-based, high-speed data collection. Technologies introduced in 2021 include:
- AVaiLWeb® 5.0 – The cloud-based digital evidence management platform added new, cutting-edge redaction features and expanded case management capabilities.
- BodyWornTM 6.0 – The newest iteration of the company’s BodyWorn body camera, featuring an updated user interface and new capabilities to further enhance the technology.
- RocketIoT® 3.0 – An improved in-car video and communications system with software updates and enhancements to increase messaging capabilities across the system of vehicles and create modules that can be adapted based on the unique needs of each agency partner.
- Utility Vehicle Camera – A new, purpose-built, multi-use vehicle video camera designed to work internally mounted as the dash and backseat cameras or externally mounted as the Automatic License Plate Recognition (ALPR) camera.
“Our company’s purpose, to provide transformative transparency, continued to grow in importance in 2021, and with that, we saw a record number of agencies seek out our unique digital resources to collect instant, clear and secure intelligence,” said Utility CEO Michael Nark. “I’m continually inspired by our agency partners and the Utility team, and we look forward to building on this momentum in 2022 with new opportunities and innovations that renew respect and authority in the community and restore trust.”
Additional 2021 highlights for Utility include:
- Executed contracts with more than 60 new agency partners
- 95% customer retention in 2021
- Backlog exceeding $100 million
- Added more than 13,000 new devices to the platform
- Actively managed more than 4 Petabytes of media and more than 13.5 million incidents on the platform
- Nearly 4 million license plates detected with Utility’s ALPR technology
- Surpassed more than 49,000 active users on the platform.
Further showcasing its commitment to agency partners, Utility supported the Cobb County Police Departments its body-worn camera provider in their work as the lead safety agency at Truist Park and The Battery Atlanta, home of the Atlanta Braves, throughout the 2021 World Series Championship and Championship celebration. Additionally, in January of 2022, Utility provided the same support for the Indianapolis Metropolitan Police Department, when the city hosted the 2021 College Football Playoff Championship, which brought more than 100,000 people to the city. The company also participated in the 2021 National Police Week, serving as a sponsor of the 33rd Annual Candlelight Vigil to honor fallen officers.
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.