SMX (NASDAQ: SMX) Forecasts Revenue Growth in 2023 Driven by Client Adoption Across Industries

June 28, 2023 at 08:00 AM EDT

SMX, the global leader in marking, tracking, and measuring technologies for supply chains, reports impressive growth due to the increased adoption of its unique technology, enabling clients to see the entire history and composition of materials. With growing attention to ESG concerns and sustainable growth, the company expects substantial revenue growth in 2023.

Transforming Supply Chain Management with SMX’s Proprietary Technologies

SMX, known for its innovative supply chain management solutions, offers technologies that grant clients an unprecedented view into the history of materials, tracking them from their virgin state, through each recycling process. This technology is gaining rapid adoption across multiple industries, significantly improving how clients manage manufacturing challenges, adhere to ESG standards, and achieve sustainable growth. Consequently, the company reported 100% year-to-date growth in commercialization in 2023, owing to the conversion of experimental programs and a surge in adoption.

SMX’s Chief Executive Officer, Haggai Alon, stated, “SMX technology enables companies to mark and digitize physical materials onto a private blockchain platform. We are delivering clear, crisp, and transparent data tracking to significantly assist our clients’ transition into a low-carbon economy.”

SMX’s Commercial Relationships Contribute to the Expansion

SMX entered into significant commercial relationships towards the end of 2022 and the beginning of 2023 that will contribute to its growth. These relationships notably include those with Sumitomo Corporation, one of the world’s largest general trading companies, and Continental AG, a major tire manufacturer.

SMX and Sumitomo Corporation: Tracking Nonferrous Metals

The commercial relationship with Sumitomo aims for US$35 million in sales, leveraging SMX’s security features to enable invisible labeling of nonferrous metals. This innovative feature traces the geographical origination and authentication information of these metals, potentially linkable to blockchain technology. This relationship plays a critical role in the ethical sourcing, recycling, and reuse of metals – a growing concern in the metals and mining industry.

SMX and Continental AG: Advancing Sustainability in the Rubber Industry

March 2023 marked the announcement of SMX’s relationship with Continental AG, marking the first attempt at entire supply chain sustainability tracking for natural rubber. With SMX’s technology, Continental AG committed to a 100% sustainable, carbon-neutral rubber supply chain by 2050, earning the German tire company the Environmental Achievement of the Year – Manufacturing award.

Expanding Commercial Relationships: Future Endeavors

In addition to Sumitomo and Continental AG, SMX is looking to extend its commercial relationships in the metals and mining industries, particularly with Sunshine Minting. This collaboration, named trueSilver, aims to create transparency along the entire supply chain of the metals industry. SMX also continues to make strides in the fashion industry, offering a technology solution to many of the sector’s ESG issues, and thus earning the 2023 Global Enabling Technology Leadership Award from Frost & Sullivan.

CEO Haggai Alon added, “SMX has made critical inroads in penetrating vital industry segments and driving client adoption, and we expect the momentum to continue. We are now seeing the beginnings of that adoption with clients integrating our technology into their supply chain management.”

By offering companies a solution to address critical ESG issues, while maintaining sustainable growth, SMX is poised to drive significant revenue growth in 2023. As companies around the world continue to integrate SMX technology into their supply chain management, SMX is certainly a company to watch in the coming years.

Conclusion

In conclusion, SMX’s transformative technologies and strategic commercial relationships position it for substantial growth in 2023. Its proprietary technology, which allows clients to track materials throughout their lifecycle, aligns with growing interest in ESG standards and sustainable growth. Key relationships with global leaders like Sumitomo Corporation and Continental AG underscore the scalability and versatility of SMX’s offerings.

With these partnerships and further potential collaborations in various industries, SMX is well-poised to penetrate vital industry segments and drive significant client adoption. As businesses increasingly seek transparency and sustainability in their supply chains, SMX stands at the forefront, offering solutions that combine innovation with environmental consciousness. As we move further into the era of ESG and sustainability, the anticipation around SMX’s continued growth serves as a testament to the crucial role of technology in paving the way for a more sustainable future.

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