Yippy (YIPI) Chairman and CEO, Richard Granville, Issues Letter to Shareholders
ATLANTA, March 27, 2018 /PRNewswire/ -- Yippy, Inc. (OTCMKTS: YIPI)
Hello Shareholders,
It has been awhile since our last update. As you may not be aware, Yippy is a software company that specializes in search and discovery and holds a perpetual license to the software known as IBM Watson Explorer. Based upon that software, which the Company operates autonomously from IBM, we have developed a suite of search technology solutions that are receiving very high marks from customers.
Yippy is currently the only "Five Star" rated company with three or more client reviews in Gartner for Insight Engines (aka: Enterprise Search). Our customers love our search engine and the Yippy Search Appliance (YSA) and Cloud (YSC). We recently upgraded our platform with the ability to unify all Microsoft products and all other business applications into a single view with full search and security. Now a user can search all content they have rights to view across Exchange, SharePoint, Office 365, SQL, Teams as well as Salesforce, Box, Jira, and hundreds of others at the same time.
Beginning in February 2018, we have been hit with a significant number of RFPs for the YSA and YSC. We witnessed a growing trend over the past 6 months as customers are opting out of 100% appliance deployments and going with hybrid, or all to the cloud in larger numbers than last year. Cloud sales now account for 35% of our total system sales. At this time in 2017, YSC sales were 5%.
As many are aware Google offered its clients a "one-time only" one-year extension to customers for 2017-2018. Due to this GSA appliance customers kicked the replacement plan into 2018. The Company has had more requests in the last 30 days than in the last 3 months. Our website form submissions have nearly tripled in last 30 days. We see the bulk of Google Search Appliance replacements occurring spring and fall of 2018, and then tailing off into first quarter 2019.
We have taken the sales stance which is to underprice and out produce the competition by unobtainable margins. Our overall sales numbers have been lower so far this year, but we have more than doubled the number of clients. We have seen a hit to our average total contract value per customer due to clients opting for our Cloud services which costs significantly less than an appliance deployment. The Yippy Search Cloud is a great alternative product to the Google Search Appliance (GSA).
As we roll into the last quarter of FY 2018, we only have one goal - beat last year's numbers in the last quarter - and it's looking pretty good. March has been a very good month for Yippy thus far. It may be also noteworthy that our last quarter we were EBITDA positive and right at "Net" profitability. Considering we have six figures in asset depreciation per quarter clearly shows we are about to turn the corner to sustained profitability.
As always, we thank our shareholders for their continued support.
Respectfully,
Richard Granville
Chairman and CEO
Yippy, Inc.
www.yippyinc.com
Forward-Looking Statements
The information contained herein includes forward-looking statements. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Additional information on risks and other factors that may affect the business and financial results of Yippy, Inc. can be found in the filings of Yippy, Inc. on OTC Markets (www.otcmarkets.com).
SOURCE Yippy, Inc.
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