Smartspace Share News (SMRT)

(Sharecast News) - Smart building software company SmartSpace announced on Friday that its partner Evoko has confirmed release of the 'Naso' meeting room product.
The AIM-traded firm said it had worked with Evoko as its exclusive software partner to create the Naso software suite, and would share in revenue from the sale of Naso panels and the ongoing software-as-a-service (SaaS) subscription for each panel.

In addition, SmartSpace said it had integrated its meeting room, desk and visitor management solutions with Naso.

Those SaaS modules would be marketed as Naso 'Rose', 'Pepper' and 'Guava' respectively, and were designed so they could be activated and configured by customers.

The company said the launch of Naso represented a "significant step" in its strategy of creating a channel partner network, to sell its 'Space Connect' software product globally.

Its board said it believed the relationship with Evoko had the potential to generate "significant" future revenues in the form of both revenue sharing from the sale of Naso panels, and SaaS subscriptions.

"It is great to see Naso finally released into the Evoko partner channel and this announcement is a major milestone for SmartSpace," said chief executive officer Frank Beechinor.

"Naso is a great product and will be one of the best meeting room panels on the market.

"A competitive entry price, combined with a suite of Naso-branded SaaS modules, ensures that Naso has very clear differentiators in the market."

Looking at its current trading, SmartSpace said it was continuing to make good progress, including continued momentum of 'SwipedOn' key performance indicators, with 'SwipedOn Desks' due to be released imminently.

It also said SwipedOn would be offered through the Amazon Web Services (AWS) Marketplace, and said sales of Space Connect through channel partners were starting to gather pace, building on its pipeline.

"I am also glad to report the continued positive momentum through the rest of the business," Beechinor added.

"We previously highlighted that our strategy is to build out a comprehensive channel sales network for Space Connect and we are making good progress with this objective, engaging and signing new partners."

Beechinor said SwipedOn was continuing to do "very well", delivering on further growth in customers, additional locations, annual recurring revenue and average revenue per user since the company's last update in early October.

"We are looking forward to releasing SwipedOn Desks, as this creates an opportunity for a step change in average revenue per user.

"The second lockdown has been frustrating for [audiovisual division] A+K but, even so, we have still seen reasonably strong revenues and we have used the time to promote the new space management product lines across its reseller network."

At 0839 GMT, shares in SmartSpace Software were up 4.8% at 103.75p.