IoT network operator Sigfox expects to close 2017 with approximately EUR 60 million worth of revenues and has a goal to reach profitability by the fourth quarter of 2018, reports Les Echos quoting CEO and co-founder Ludovic Le Moan. Depending on market conditions, plans for an initial public offering (IPO) are still on the cards, possibly in mid-2019, said Le Moan, adding that international expansion remains a priority. During 2017, Sigfox continued to increase its presence, entering in the region of fifteen to eighteen more markets, giving it a total of around 45, and it is targeting 60 countries by 2018.
Two million connected objects are currently on Sigfox’s network and its main client remains Verisure Securitas, with 1.2 million security and alarm systems. If various projects on the pipeline materialise, this number could increase to 50 million worldwide by 2019.
Le Moan also defended the company's performance from recent press reports, with some highlighting the departure of several senior figures from its management team.
