Oberon Technologies

Oberon Technologies Reports 41 Percent SaaS Revenue Growth in FY 2020

Ann Arbor, MI, January 20, 2021 – Oberon Technologies, Inc., a leading provider of state-of-the-art extended reality (XR) training and information delivery technologies, today reported 41percent SaaS (Software as a Service) revenue growth for the year ended December 31, 2020.“We are very excited to see increased interest and accelerated adoption of extended reality (XR) technologies like the virtual and augmented reality (VR and AR) training solutions that we added to our portfolio early in 2020,” said Tim Allen, the company’s chairman and CEO.  “Our strong client relationships allowed us to make continued progress on active projects while also allowing us to safely add several new projects in the fourth quarter.” Mr. Allen went on to say, “We made quick and necessary changes to ensure we are providing our clients with the best possible solutions to meet their evolving business needs.”

 

The accelerated move this past year to remote and virtual workspaces has many enterprisesseeking new technologies to work around restrictions, improve employee safety, and meet evolving customer needs. Enterprises in manufacturing, energy and utilities are investing in extended reality solutions, including AR, VR and Mixed Reality for training, field services, operations, and more.

 

Oberon continues to deliver innovative XR solutions as illustrated by the three new patents filed in 2020. With new product introductions for Web Collaboration Suite and VR Training Applications and increased adoption of the company’s SaaS offerings, Oberon expects to see continued revenue growth from these efforts into 2021 and beyond.