XMReality announces strong client growth and ongoing talks about consolidation

XMReality sees a strong increase in interest in the global market for its services and has so far this year taken on board over 30 new customers. Which is an increase of over 100 percent compared to the number of new customers for the full year of 2022. The company is also in dialogues with several stakeholders regarding potential consolidations.

An important factor behind the strong increase in the number of new customers this year is that the market is now investing strategically in this type of solution. At the same time, the company's investment in the U.S. has yielded results and the customer base for XMReality Inc., XMReality's American subsidiary, is continuously growing. The company's strategy of having a low entry level with customers combined with a clear growth plan has proven successful and with many of the new customers activities are underway to scale up within the next 12 months.

“I’m very happy to see that our shift in sales strategy is starting to yield results” says Andreas Jonsson, CEO at XMReality, “we’ve had a negative effect on our ARR during the past couple of years from companies that started too big and without a clear plan and consequently later scaled down. Therefore, we now focus on starting small with the goal to generate long term sustainable growth in each customer account. Something which we see is working and many of the new customers we have on boarded this year are already increasing their subscriptions.”

As the technology becomes more mature, XMReality has also seen increased interest in consolidations and acquisitions in the market. The company is currently in talks with several stakeholders, both inside and outside the industry.