As Virtual Reality / Augmented Reality (VR/AR) continues to grow rapidly, Flexpoint Sensor Systems, Inc. (OTCPK:FLXT) seems to be growing with the industry as the company just announced that Q1 and Q2 2017 resulted in receipt of record production purchase order volumes in the VR/AR market segment.
Flexpoint has received orders for more than 150,000 sensors and related assemblies from multiple development partners around the globe. The company began to fulfill the orders in Q2 2017 and complete fulfillment is expected before year-end, which will be a large contributor of the expected 500% revenue growth this year. Showing no sign of abating, demand continues to grow and the company expects to receive increasingly larger volume orders before year-end and continuing into 2018.
According to Paul Sexauer, Flexpoint VP Sales & Marketing, "You will be hard pressed to find an industry or market segment anywhere around the world that does not embrace the value of VR/AR in one form or another. With our differentiated Bend Sensor® technology, industry experience and strong market focus, we are very pleased to be so uniquely well-positioned to grow with it.”
Shareholders of FLXT seem to like what they hear by bidding up the stock to the tune of 7.14% to $0.075 in late-day trading on Wednesday.
