Up to 15% of people worldwide have a disability that affects their ability to use the internet. Issues include blindness and low vision, hearing impairments and deafness, limited motor control, and learning and cognitive disabilities. AudioEye Inc. (AEYE:OTCQB) has developed the technology to make the internet accessible, and sales are skyrocketing.
The company notes that its technology was developed to assist "organizations in making web content both accessible and compliant in the most effective, expedient, and economical manner." The technology helps companies comply with the Web Content Accessibility Guidelines (WCAG) 2.0 and stay in compliance with the Americans with Disabilities Act.
On April 10, AudioEye announced that in Q1/17, it had secured bookings of more than $1.7 million. Bookings for all of 2016 totaled $1.9 million.
Despite the high bookings in Q1/17, the company says it has a pipeline of more than $5.3 million. Earlier the company had stated that it expected bookings of between $4 million and $6 million in 2017.
Dr. Carr Bettis, executive chairman of AudioEye stated, "The first quarter was a breakout quarter for AudioEye, with record bookings driven by accelerating adoption of our digital accessibility platforms within our targeted industry markets."
AudioEye has been targeting financial services, human resources, government, education and e-commerce, and the company has added 105 new banking clients in the past quarter.
Todd Bankofier, CEO of AudioEye, stated, "Customers are increasingly drawn to AudioEye's unique ability to assess a new customer site through our software driven solutions, then engaging our automated remediation technology to correct between 40-60% of the accessibility issues within a matter of hours. After this initial assessment and remediation, we work closely with customers to bring their sites into full compliance with the Web Content Accessibility Guidelines 2.0 AA standards in 100 days, then monitor their content for the life of the subscription. This ensures AudioEye customers continue to comply with the latest standards and best practices in digital accessibility."
Included on AudioEye's board of directors is Tony Coelho. A former member of the U.S. House of Representatives, Coelho is credited by Congressional colleagues as the author of the Americans with Disabilities Act. He formerly chaired and currently sits on the Board of Directors of the American Association of People with Disabilities.
AudioEye trades on the OTCQB exchange under the ticker AEYE; the company currently has a market cap of about $22.2 million.
Note: An earlier version incorrectly stated that AudioEye's bookings for 2016 were $1.6 million, not $1.9 million.
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