Motion Metrics Announces 40%+ Revenue Growth at Annual General Meeting

Every Anniversary is a Milestone

From August 22 to 23, 2019, Motion Metrics held its 20th Annual General Meeting (AGM) in Vancouver, British Columbia. Following a well-established tradition, international employees from Australia, Botswana, Brazil, and Chile joined our local staff to celebrate this year’s success and plan for the next. It is with great pride that we announced our fifth continuous year of rapid growth – Motion Metrics increased revenue by more than 40% in fiscal 2019.

Although we have much to celebrate, Motion Metrics is careful not to take success for granted. Scaling up means doing more with less, without compromising quality. To get into a growth mindset, we are prioritizing alignment and communication, minimizing inefficiencies, building strategic partnerships, and setting measurable goals.

A New Product Release

Held at the University of British Columbia’s Robert H. Lee Alumni Centre, the first day of this two-day event began with an exciting announcement – the launch of our newest product, TruckMetrics™.

TruckMetrics™ is currently being trialed using drone-based 3D imaging at a mine in Western Australia with excellent initial results. This smart solution will leverage our 3D computer vision and deep learning technologies to provide particle size analysis and boulder detection for haul trucks without interrupting the production cycle.

Mines are excited about our newest product release for two reasons. Firstly, accurate particle size analysis is the cornerstone of any mine-to-mill approach. To ensure the statistical validity of particle size data, it is important to sample material frequently. Since blasted material is typically loaded onto haul trucks and then transferred to the crusher, measuring the particle size of each haul truck load provides an adequate sampling rate for optimization initiatives. Secondly, oversized rocks cause a significant amount of crusher downtime that can be mitigated with our new boulder detection solution. Mines can pair TruckMetrics™ with ShovelMetrics™ Missing Tooth Detection to eliminate the two leading causes of crusher obstructions. To learn more about TruckMetrics, please contact our Sales team.

Every Mine Needs a Little SaaS

The second day of our AGM took place at Simon Fraser University’s Harbour Centre and focused on our transition towards a subscription-based revenue model. Software-as-a-Service (SaaS) is a revenue model where the product is licensed on a subscription basis. This model has emerged as computing shifts from embedded devices to the cloud and has several benefits for the customer.

Subscription models lower initial acquisition costs for the customer, improve data security, and reduce the need for dedicated IT resources. Cloud-based solutions also enable remote monitoring, allowing technology providers to proactively support their customers. Because customers always have the latest version of the software, subscription-based services increase the speed of updates and bug fixes.

Many of our customers have already transitioned to our subscription-based service, and we now have a record number of service and support contracts. This model has enabled us to provide proactive customer support through remote systems monitoring, leading to happier clients and higher user engagement with our data analysis platform. Building deeper relationships has also allowed us to develop new product ideas with the field trial and performance evaluation assistance from our customers. To learn more about our subscription services, please contact our Support team.

Making Success Possible

This has been our most successful year yet and our team feels fortunate for the customers, leaders, and employees who have made our achievements possible. We would like to say a special thank you to all our customers for making us the industry-leading mining technology company we are today!