SOBR Safe, Inc. (NASDAQ: SOBR) Shares are over 223% higher than where they started in September. But the better news for those invested or considering, the bullish surge appears to be the precursor for higher gains. That's not an overzealous assumption. SOBR is doing the right things in the right markets at the right time. And after successfully raising $6 million from an at-the-market private placement navigated by Aegis Capital, SOBR is more than exploiting a red-hot sector opportunity; they have the capital to accelerate its value-creating mission.
That's not all driving the value proposition. SOBR is ideally positioned to capitalize on a legislative tailwind, making its products more than needed; new laws could mandate them. That's the likely result of aggressive action by the National Transportation Safety Board (NTSB), which recently highlighted "the need for technology solutions to eliminate impaired driving." Its Chair Jennifer Homendy went further, saying, "We need to implement the technologies we have right here, right now to save lives." Why does that matter to SOBR and its investors?
Because SOBRsafe's passive alcohol detection in its stationary SOBRcheck™ form is already able to meet and expedite implementing the technologies the NTSB is referring to. Already, SOBR is helping ensure driver safety for companies like Continental Services and its 1,800 employees across four states, utilizing SOBRsafe's innovative solution to proactively manage its existing alcohol policy while complementing existing safe operations. Use by Continental is doing for them what it can do for thousands of other companies- provide a system enabling a safe environment and community.
That's precisely what the SOBRsafe products portfolio can do.
Massive Alcol-detection Market Opportunity
SOBR's products bring a competitive edge to six-decade-old breathalyzer technology, with its SOBRcheck uniquely and innovatively designed to detect alcohol use within employees or contractors with an easy-to-implement palm-sized device. The product is a game changer, and here's why.
The SOBRcheck device utilizes entirely new advancements in the detection field: finger touch technology. By testing the natural humidity and vapor of the skin, the device can detect alcohol presence at an accuracy of 94%. Its non-invasive nature makes it the easiest system to use and implement at entry points to facilities or driver centers. It's simple- if no alcohol is detected, the driver receives the keys to their assigned vehicle. More directly, SOBRcheck provides a straightforward solution to keeping roads, warehouses, and work sites safe. And, with upcoming NTSB mandates requiring employee screening by 2025, the device could be penetrating a market exploding in size. It very well may.
SOBRcheck provides a faster and more hygienic solution to old alcohol detection technology. It does not require saliva, blood, or breath-based tests like most competitors do, and it develops results in only about 20 seconds. Not to mention the test's unmatched accuracy. With its non-invasive and reliable results coupled with expected near-term alcohol screening mandates, SOBRcheck is advancing more than the right product in the right market; it's doing it at the right time.
Keeping Drivers And Employees SOBR
The NTSB has always been concerned about intoxicated drivers. Now, they are taking extraordinary action, planning to implement mandates to curb the problem. SOBR is already on it, with its patent-pending SOBRsafe™ platform able to meet the need and demand. The device has broader applications, though. In addition to the low-hanging opportunities presented by the transportation sector, additional markets like construction, alcohol rehabilitation products, youth drivers, DUI probation, and more are also in the business crosshairs. For investors, SOBR's ambitions could generate significant near and long-term returns.
And here's something else to note. The SOBRcheck system does more than facilitate entrance and enable employees to get a set of keys to operate a motor vehicle. Its devices also connect seamlessly to a robust cloud-based reporting and data management system. That distinction and advantage aggregates data, helps client companies maintain compliance, and provides and consolidates safety management and incident reporting. That's not all of the benefits. Companies may see sharp decreases in insurance premiums by using SOBR's proactive screening platform, putting the billion-dollar insurance industry in its crosshairs. It adds to the already lucrative proposition.
Note that client companies are likely to appreciate the entirety of the platform, specifically the SOBRsafe™ platform allowing SOBRcheck devices to connect directly to cloud-based data management systems, enabling client companies to monitor reports. Data can be seamlessly shared with insurance companies, clients maintain NTSB compliance, and companies feel safer. Applications are extensive.
SOBR technological advancements appeal to a wide range of markets for many different reasons. Opportunities are practically endless: insurance premiums can be lower, companies can ensure drivers are not under the influence, and DUI probation can become easier to manage. However, despite the different uses, each market works towards the same goal; overall safety on our roads and workplaces. The SOBRcheck system is a simple, straightforward, non-invasive answer to drinking and driving. But that's not all the company offers.
SOBRsure Strengthens Products Arsenal
Expanding upon SOBRcheck is the company's SOBRsure™ wristband, which utilizes the same touch technology and software platform. This device primarily targets fleet management as well as assists managed care patients. And better news from a revenue-generating perspective, SOBRsure™ is already available to commercial clients with planned growth in 2023. In fact, SOBR is already increasing its presence across multiple fields, raising revenue targets in the process.
Another value driver is SOBR's SaaS-based business model, centralizing data to the cloud. The SOBRcheck device is free to clients, but they agree to a $30 monthly user fee per unit. The wristband, however, is sold at a flat price of $299.95 with a $19.95/monthly fee for cloud access. This business model provides revenue visibility and secures long-term business relationships.
It all adds up. In SOBR's case, estimates suggest its combined addressable market is upwards of $30 billion. And these estimates might even be conservative considering opportunities inherent to youth driving and alcohol rehabilitation markets. Factor in business opportunities from delivery fleets, manufacturing, construction, and warehouse markets, and the revenue potential for SOBR's platforms get substantially more significant. And with connections to the Amazon sales network, reaching those lofty expectations can happen sooner than later.
Partnerships Also Add Value
Partnerships contribute too, and beyond Amazon, SOBR is connecting with other third parties to drive value. Its partnership with Butterfield Onsite Drug Testing taps into a national customer network in the airline sector. Butterfield also plans to establish a sales team solely representing SOBRsafe solutions within the network, expanding the company's reach to a national and potentially global network.
Another company recognizing SOBR's technological excellence and importance is RubiRides, a rideshare service specializing in reliable transportation for kids. Its service emphasizes safety as its number one goal, and the SOBRsafe platform is made for just that. RubiRides provides drivers with the SOBRcheck wristband, giving them access to cloud-based reports, ensuring both drivers' and kids' safety.
Another distribution deal with public benefit corporation Reconnect utilizes SOBR technology to pre-screen participants to work towards reducing incarceration and recidivism. The centralized platform and real-time reporting make data management more effortless than ever. The company also announced deals with companies North-Star Care, Continental Services, and RecoveryTrek to aid in various alcohol management initiatives and distribution safety nationwide. Its growing number of partnerships creates even more opportunities to generate revenue and fuels multi-industry attention and potential adoption.
On top of this, SOBR is already receiving industry accolades, including the Occupational Health & Safety New Product of the Year award in the Safety Monitoring Devices category. All tolled, SOBRcheck, and the SOBRsafe platform, are quickly earning interest as one of the most innovative new safety products, which, in turn, suggests that the best is yet to come for this fast-growing company.
A Sum Of Its Parts Expose A Valuation Disconnect
It's evident today that SOBR's sum of its parts is more valuable than its share price suggests despite its recent surge. But like many pricing disconnects, the gap could close quickly as SOBR's innovative touch-based prevention solutions continue to penetrate markets and secure revenue-generating partnerships and deals from companies committed to safety. From NTSB screening mandates to ethical considerations, SOBR is a company that can change the alcohol detection landscape. Business application or private concern, that's a win-win proposition.
Put most simply, SOBR Safe Inc. is an industry game-changer. And its contribution to alcohol-detection technology may be more than unrivaled; it can be a driver for considerable shareholder value growth in the current and coming quarters. Yes, estimates and sentiment are bullish but rooted in best-in-class and industry technology, both are warranted. And by targeting ample opportunity in a market where demand can outpace supply, SOBR is more than an attractive proposition; it's a compelling one.
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