Motion Metrics held the 20th Annual General Meeting (AGM) in Vancouver, British Columbia last month and following a well-established tradition, international employees from Australia, Botswana, Brazil and Chile joined local staff to celebrate this year’s success, planning for the next.

It is with great pride that we announced our fifth continuous year of rapid growth – Motion Metrics increased revenue by more than 50% in fiscal 2019, bringing total revenue to more than $20m.

Although we have much to celebrate, Motion Metrics is careful not to take success for granted. Scaling up means doing more with less, without compromising quality. To get into a growth mindset, we are prioritising alignment and communication, minimising inefficiencies, building strategic partnerships, and setting measurable goals.

A New Product Release

Held at the University of British Columbia’s Robert H Lee Alumni Centre, the first day of this two-day event began with an exciting announcement – the launch of our newest product, TruckMetrics™.

Scheduled for release in early 2020, TruckMetrics is currently being trialled at a mine in Western Australia with excellent initial results. This smart solution will leverage our 3D computer vision and deep learning technologies to provide particle size analysis and boulder detection for haul trucks, without interrupting the production cycle.

Mines are excited about our newest product release for two reasons. Firstly, accurate particle size analysis is the cornerstone of any mine-to-mill approach. To ensure the statistical validity of particle size data, it is imperative to frequently sample material. Blasted material is typically loaded onto haul trucks and then transferred to the crusher. Therefore, measuring the particle size of each haul truckload provides an adequate sampling rate for optimization initiatives.

Secondly, oversized rocks cause a significant amount of crusher downtime that can be mitigated with our new boulder detection solution. Mines can pair TruckMetrics with ShovelMetrics™ Missing Tooth Detection to eliminate the two leading causes of crusher obstructions. To learn more about TruckMetrics, please fill out the enquiry form attached to this page.

Every Mine Needs a Little SaaS

The second day of our AGM took place at Simon Fraser University’s Harbour Centre and focused on our transition towards a subscription-based revenue model. Software-as-a-Service (SaaS) is a revenue model where the product is licensed on a subscription basis. This model has emerged as computing shifts from embedded devices to the cloud and has several benefits for the customer.

Subscription models lower initial acquisition costs for the customer, improve data security and reduce the need for dedicated IT resources. Cloud-based solutions also enable remote monitoring, allowing technology providers to support their customers. As customers always have the latest version of the software, subscription-based services increase the speed of updates and bug fixes.

Many of our customers have already transitioned to our subscription-based service and we now have a record number of service and support contracts. This model has enabled us to provide proactive customer support through remote systems monitoring, which leads to happier clients and higher user engagement with our data analysis platform. Building deeper relationships has also allowed us to develop new product ideas collaboratively with our customers. To learn more about our subscription services, please fill out the enquiry form attached to this page.

Making Success Possible

This has been our most successful year yet and our team feels fortunate for the customers, leaders and employees who have made our achievements possible. We would like to say a special thank you to all our customers for making us the industry-leading mining technology company we are today.