14:22:34 EDT Thu 01 Jun 2023
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AMPD Ventures Inc
Symbol AMPD
Shares Issued 90,405,019
Close 2022-05-25 C$ 0.17
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AMPD Ventures has $1.7-million in fiscal Q3 revenue

2022-05-25 19:15 ET - News Release

Mr. Anthony Brown reports


AMPD Ventures Inc. has provided shareholders with a preview of FY 2022 results and summary of key progress.

The exceptional team at AMPD continues to execute and build upon its plan of building a full 360-degree metaverse company despite experiencing a challenging downturn in the technology sector markets.


  • $1.7-million in Q3 2022 revenue (December, 2021, to February, 2022), representing a 275-per-cent increase compared with Q3 2021;
  • $2.3-million in YTD (year-to-date) 2022 revenue (June, 2021, to February, 2022), doubling that of the same period YTD 2021;
  • $900,000 in forecasted Q4 2022 revenue (March, 2022, to May, 2022), doubling that of Q4 2021;
  • $3.2-million in forecasted FY 2022 revenue (June, 2021, to May, 2022), doubling that of FY 2021;
  • Departure Lounge acquisition building upon AMPD infrastructure foundation to develop a full 360-degree metaverse company.

FY Q3 highlights

Building upon the momentum of its oversubscribed private placement toward the end of November, 2021, AMPD quickly finalized the acquisition of Departure Lounge Inc., which was instrumental in building upon AMPD's position as an infrastructure provider for next-generation applications to develop a full 360-degree metaverse-focused organization.

As Joseph Morton at Equity Guru notes in an article from February, 2022, the AMPD group now has both the computing infrastructure necessary to host the metaverse -- "the levers and hydraulics and the workings behind the curtain" -- but now also the "wizard needed to run the show" as Departure Lounge adds the technologies required to access the metaverse, the experienced creative team to help build the metaverse and the Web3 team to help monetize the metaverse.

Since the acquisition, Departure Lounge has secured its headquarters, hired industry veteran Adam Rogers to lead its creative services team, established a Web3 team to capitalize on the opportunity represented by the intersection of Web3 and metaverse, announced the formal launch of its partnership with volumetric capture pioneers, Metastage Inc., and entered an education collaboration agreement with the Centre for Digital Media through which it will be the keystone partner in a planned Metaverse Innovation Centre.

Buildout of the facility is progressing on schedule and is expected to be completed by mid-June with initial bookings expected shortly thereafter. Departure Lounge chief executive officer James Hursthouse spoke at several high-profile metaverse conferences and events, including the Vancouver International Privacy & Security Summit (VIPSS), the Metaverse 2.0 Global Summit and the International Spark 2022 Visual Effects Conference, building awareness and generating significant early-stage interest in the company and its services.

In January, 2022, AMPD added to its roster of high-calibre senior leaders with the appointment of Ian Wilms in the position of vice-president of business development and government affairs. AMPD was subsequently accepted into the Accelerate Growth Service program, which was established by the federal government to help support Canadian companies with high-growth potential via assistance and guidance on a wide range of government programs designed to supercharge growth.

On Feb. 2, 2022, the company announced the expansion of The Learning Factory Digital Twin Project in partnership with Canada's Digital Technology Supercluster.

On Feb. 9, the company signed an agreement with Parsec Cloud Inc., now a wholly owned subsidiary of Unity Inc. (NYSE: U), to enhance the AMPD virtual studio offering with Parsec's ultralow-latency streaming technology. Parsec's ultralow-latency streaming technology has been designed to enable anyone in the world to remotely interact with real-time 3-D content and empowers some of the world's most inspiring and creative companies to freely work and play from anywhere, on any device, on their own terms.

AMPD Virtual Studio is an integrated suite of fully composable, private cloud-based solutions designed to create the ultimate "infrastructure-less" studio for digital content creators and specifically addresses the opportunity represented by the continuing transition to virtual desktop infrastructure (VDI). It is estimated that the virtual desktop infrastructure (VDI) market will reach $30-billion (U.S.) by 2026, up from $11-billion (U.S.) in 2020, representing 17-per-cent annual CAGR (compounded annual growth rate) growth during the forecast period.

On Feb. 28, 2022, the company signed an agreement with Versatile Media Inc. through which it will sell and support the Versatile Virtual Production System (VPS), a robust, end-to-end suite of technology solutions that offers many advantages over current virtual production workflows. AMPD demonstrated the incredible capabilities of the Versatile VPS to numerous global studio executives at the recent NAB Conference in Las Vegas.

Over all, the company enjoyed strong third quarter financial results, with a 275-per-cent increase in revenue compared with the same quarter in FY 2021, with year-to-date sales for FY 2022 YTD (June to February) 104 per cent above 2021 YTD.

FY Q4 highlights

FY Q4 saw the deployment of AMPD POD base infrastructure environments to both Los Angeles and Amsterdam. PODS are designed to enable potential customers to evaluate AMPD's products and services and demand is high in both the United States and Europe.

The company continued to enhance the functionality of its AMPD virtual studio offering through an agreement with Hammerspace. Hammerspace is a global leader in connecting global users with their shared content and applications across data centre infrastructure and cloud services. Hammerspace data orchestration will be integrated with the workflow management tools in AMPD virtual studio to make high performance local access to global data without making multiple copies of that data a reality. Thanks to the agreement between AMPD and Hammerspace, AMPD customers will be able to access and migrate data wherever they need it, across regions and even multiple cloud vendors. This will make the adoption of hybrid solutions easier and eliminate the need to abandon recent storage investments as part of a migration to AMPD virtual studio.

The strong growth in the third quarter has continued into Q4, with forecasted revenue of $900,000, a 105-per-cent increase compared with Q4 2021, and forecasted total year sales for FY 2022 YTD (June to February) of $3.2-million, doubling revenue compared with the full year FY 2021.

"I'd like to thank AMPD investors and partners for their ongoing support and belief in what we are doing, even during challenging market conditions," said Anthony Brown, chief executive officer at AMPD Ventures. "We continue to be excited about our growth and progress since the completion of the financial raise in November and look forward to sharing more exciting news in the near future."

About AMPD Ventures Inc.

AMPD is a next-generation infrastructure company specializing in providing high-performance computing solutions for low-latency applications. With state-of-the-art, high-performance computing solutions hosted in sustainable urban data centres, AMPD is leading the transition to the next generation of computing infrastructure as the hosting company of the metaverse. Through a mix of infrastructure as a service (IaaS) and an upgraded, high-performance cloud offering, the company is meeting the low-latency requirements of multiplayer video games and e-sports, computer graphics rendering, artificial intelligence, machine learning, mixed reality, big data processing, and the as-yet uncharted technological developments of the coming decades.

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