GTX Corp. (GTXO) Reports 133% YOY Increase in Subscriber Revenue as Wearable Tech Market Matures

GTX Corp. (OTC: GTXO) is a more approachable option for investors seeking to diversify their portfolios in order to cash in on the forecast wearables boom. A self-described ‘pioneer in IoT wearable technology’, GTXO offers comprehensive end-to-end solutions that include location-based hardware, middleware, apps and related professional services. The company’s flagship product is the award-winning GPS SmartSole, which aims to improve the lives of the roughly six million Americans currently living with Alzheimer’s and Dementia, as well as their caregivers. By embedding a GPS tracking device into a comfortable insole, GTXO’s GPS SmartSole provides peace of mind to family members without the need for separate tracking devices and the obtrusiveness and stigma that are often associated with them.

Earlier this month, GTX Corp. released its financial results for the fiscal quarter ended June 30, 2016, which included promising growth. The company’s quarterly revenue was up 36 percent over the previous year, while subscriber revenue increased 133 percent year-over-year. In total, GTXO boasts active subscribers in more than 35 countries around the globe. The company intends to build on these results by adding new customers and subscribers, as well as through a new initiative designed to monetize its numerous intellectual property assets. In line with these initiatives, GTXO recently entered into two new master distribution agreements that will allow the company to scale distribution in certain vertical markets without significantly increasing operational expenses. Key to these efforts will be GTX Corp.’s ability to secure the capital required to keep up with market growth, as alluded to by CEO Patrick Bertagna in a recent news release.

“Lack of sufficient capital for inventory, human resources and infrastructure has been a challenge since our launch last year. It has limited our ability to order appropriate inventory thereby limiting our ability to grow as quickly as we would like,” he stated. “We believe that our increased margins and revenues, along with the new monetization IP campaign, will begin to ease our capital shortage problem. Having said that, we remain focused on building brand and product awareness on a global scale, growing our channels of distribution and increasing sales, subscription revenues and margins in all our product categories.”

For more information, visit www.GTXCorp.com