Technology company servicing the food industry Dragontail Systems (ASX:DTS) has doubled customer receipts quarter on quarter in Q4 compared to Q3, reaching approximately $197,000 for the quarter.
The company has partnered with point of sale (POS) providers and food service operators including Pizza Hut, KFC Asia and Domino’s Pizza.
The company said the agreements with these food partners are expected to generate increased recurring revenues as the company moves to roll out its product through their franchises.
The company raised $8.8 million in October 2017 in an oversubscribed placement which closed early and was supported by existing and new investors, providing expansion capital to fund its growth strategy.
Over the quarter, the company rolled out its Algo platform to Pizza Hut Canada franchises and installed the platform in Pizza Hut and KFC stores in Cyprus, as well as signing an agreement with Domino’s Pizza to roll out the Pizza checker AI camera in its stores across Australia.
Shares in Dragontail Systems (ASX:DTS) are trading 1.85 per cent lower at $0.27.