Visionstate Reports Accelerating Subscription Growth and Expansion of MIRA Compliance Platform

Executive Summary

• Visionstate added 11 new location subscriptions (12 installations) in early Feb‑mid Mar 2026, generating ~​$11k of new quarterly revenue and ~$33k of annual license fees.
• Total active annual location subscriptions now approx. 145, supporting a recurring‑revenue base that management says is moving toward the ~400 locations needed for operating break‑even.
• New distributor activity expands into a film production studio; pilot deployments entered U.S. healthcare facilities, broadening market exposure beyond Canada.

Key Details

• New Subscriptions: 11 new location subscriptions across 12 installations (early Feb – mid Mar 2026).
• Revenue Impact: ~​$11,000 additional revenue for the quarter; ~$33,000 of annual license fees to be invoiced each January.
• Current Base: Approx. 145 active annual location subscriptions (recurring revenue base).
• Pricing Model: ≈ $960 per location annually; optional MIRA Inspections module ≈ $80 per month per location.
• Break‑Even Target: Management estimates ~400 active monthly location subscriptions required for operating break‑even of Visionstate IoT Inc.
• Healthcare Pilot: 3 new subscriptions under a U.S. facilities‑services distributor pilot – two regional hospitals and one ambulatory care centre.
• Industry Expansion: 4 additional subscriptions across five locations (industrial, education, public venues, airport services).
• New Distributor Launch: Onboarded distributor added four locations, including a film production studio facility—first entry into that industry segment.
• Growth Outlook: Management expects continued subscription momentum as more distributors come online and U.S. market penetration expands.

Notable Quotes

“This level of growth, driven through a single distribution partner, provides a clear foundation for scaling the MIRA platform.” – John Putters, CEO

“These early installations demonstrate the importance of compliance verification in high‑traffic environments such as healthcare.” – John Putters, CEO