ThroughTek listed as Taiwan's first IoT company on the emerging stock board
Press release [Wednesday 25 January 2017]
ThroughTek Co., Ltd., a leading IoT (Internet-of-Things) platform and cloud solutions provider, announced today that it has registered as Taiwan's first IoT company on the Emerging Stock Board (ESB) of Taipei Exchange (TPEx), effective January 18, 2016. ThroughTek reported its operating revenue of 153.77 million New Taiwan Dollars for the year of 2016, with a YoY growth of 42%, reaching historical high.
ThroughTek was established in 2008, originally selling surveillance systems and integrated cloud service, and has since been applying its leading software connection technology to provide user-friendly device management services for IoT devices. Since the launch of Kalay Platform in 2014, ThroughTek has committed to developing complex data transmission and streaming solutions for video surveillance applications. The Kalay Platform is market-proven, supporting over 15 million devices and more than 200 million monthly device connections, and has accumulated a sufficient amount of data for future use in big data analytics.
In November of last year, ThroughTek received an opinion letter from the Industrial Development Bureau, Ministry of Economics on "Successfully Developed Product/Technology With Market Potential", expressing confidence in ThroughTek's technical expertise, service, operation, and future developments. More importantly, ThroughTek is the first IoT company in Taiwan to successfully receive approval and obtain registration on the ESB. Later this year, ThroughTek also plans to list publicly on the Taipei Exchange.
Since 2016, the market demand for IoT applications and services has grown significantly. In 2016, ThroughTek registered revenue growth for each quarter was 16%, 37%, 58%, and 61% respectively. In the month of December, ThroughTek generated a record-breaking 16 million NTD in revenue, up 66% over the same period of 2015, which demonstrates its success in developing and expanding its business to the global market. With access to the capital market, ThroughTek expects continued revenue growth as it increases market penetration.