Oil and gas pipeline data company OneSoft Solutions (OneSoft Solutions Stock Quote, Chart TSXV:OSS) was featured this week at the 2019 Cantech Investment Conference. The company gave a presentation on Tuesday on its artificial intelligence-aided software to detect oil and gas pipeline failures, which has been gaining them clients as of late.
Started in 2015, the company now has a $61-million market cap and is about to break out in a big way in 2019, says Dwayne Kushniruk, CEO of the Edmonton-based OneSoft.
“We’re just now at the inflection point where we’re switching from R&D to revenue generation,” he says. “Last year, we had one client. We now have four, two of them are Fortune 500 and one of them is an industry supermajor. So our technology has been validated. It absolutely works.”
OneSoft started its pipeline data analysis project in 2015, and a year later they were chosen to participate in Microsoft’s first Accelerator program (they were one of nine out of 721 companies chosen worldwide).
The share price for OSS has had a good run over the past few months, rising more than 50 per cent since mid-September. Last week, the company reported its quarterly financials for the period ended November 30, 2018, generating revenue of $509,000 for the quarter, almost double that of a year prior, while reporting a consolidated net loss of $738,000 or $0.01 per share, up 17 per cent over the same period a year ago.