BlueRush Pleased to Report Q3 Results for Fiscal 2024 with Continued Focus on Development of Generative AI Capabilities, Cost Reduction and Optimization of Go-to-Market Activities
July 02 2024 - 9:40PM
BlueRush Inc. ("
BlueRush" or the
"
Company") (TSXV:BTV; OTCQB:BTVRF), a
personalized video Software as a Service ("
SaaS")
company, today announced its financial results for the three and
nine months ended April 30, 2024.
“The future of BlueRush is very much about AI,
positioning us to open new market opportunities while accelerating
growth and new logo acquisition,” said Steve Taylor, CEO of
BlueRush. “IndiVideo’s® architecture is ideally suited to allow for
AI-generated videos to be created quickly and economically and for
these videos to be personalized at scale.”
Strategic and financial highlights:
- BlueRush selected by one of the
world’s largest asset managers to support communication to group
retirement (401K) participants.
- Personalized AI-generated video
capability will be ready to go to market by late Q4 or early Q1.
Beta testing and receptivity from trial customers has been
extremely positive and has helped refine roadmap.
- Funnel opportunities continue to
expand with world-class customer base in the Banking, Insurance and
Wealth Management verticals.
- Expenses continue to decline as the
Company adopts more efficient internal processes and go-to-market
strategies.
“The sales funnel is in a better place than it
has been since I assumed the role of CEO, we are operating in a
leaner fashion and, with AI becoming a bigger part of the story, I
have never been more excited about the prospects for BlueRush and
our shareholders,” continued Steve Taylor.
The Company's full financial statements and
management's discussion and analysis for the three and nine months
ended April 30, 2024 are available under the Company's profile on
SEDAR+ (www.sedarplus.com).
About BlueRush Inc.
BlueRush, through its wholly owned operating
subsidiary, builds and delivers products and services that engage
customers in the digital channels. BlueRush’s flagship product,
IndiVideo®, is a disruptive, award-winning interactive personalized
video platform that drives return on investment throughout the
customer lifecycle, from increased conversions to more engaging
statements and customer care. IndiVideo® enables BlueRush clients
to capture knowledge and data from their customers' video
interaction, creating new and compelling data driven customer
insights. For more information
visit https://www.bluerush.com.
Forward-Looking Statements
Certain statements contained in this press
release may constitute "forward-looking information" as such term
is defined in applicable Canadian securities legislation. The words
"may", "would", "could", "should", "potential", "will", "seek",
"intend", "plan", "anticipate", "believe", "estimate", "expect"
and similar expressions as they relate to the Company, are intended
to identify forward-looking information, including, without
limitation: the Company’s timing for launching AI capability
within IndiVideo®. All statements other than statements of
historical fact may be forward-looking information. Such
statements reflect the Company's current views and intentions
with respect to future events, and current information available
to the Company, and are subject to certain risks, uncertainties
and assumptions. Material factors or assumptions were applied in
providing forward-looking information. Many factors could cause
the actual results, performance or achievements that may be
expressed or implied by such forward-looking information to vary
from those described herein should one or more of these risks or
uncertainties materialize. These factors include, without
limitation: changes in law; the ability to implement business
strategies and pursue business opportunities; state of the capital
markets; the availability of funds and resources to pursue
operations; a novel business model; dependence on key suppliers
and local partners; competition; the outcome and cost of any
litigation; the general impact of COVID-19 pandemic; as well as
general economic, market and business conditions, as well as
those risk factors discussed or referred to in disclosure
documents filed by the Company with the securities regulatory
authorities in certain provinces of Canada and available at
www.sedarplus.com. Should any factor affect the Company in an
unexpected manner, or should assumptions underlying the
forward-looking information prove incorrect, the actual results
or events may differ materially from the results or events
predicted. Any such forward-looking information is expressly
qualified in its entirety by this cautionary statement. Moreover,
the Company does not assume responsibility for the accuracy or
completeness of such forward-looking information. The
forward-looking information included in this press release is
made as of the date of this press release and the Company
undertakes no obligation to publicly update or revise any
forward-looking information, other than as required by applicable
law.
For further information please contact:
Steve TaylorChief Executive OfficerBlueRush Inc.Tel:
416-457-9391Email: steve.taylor@bluerush.com
Kendra BorutskiDirector of MarketingBlueRush Inc.Email:
kendra.borutski@bluerush.com
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