Universal mCloud Enjoys Strong Q2 Results

Russ McMeekin joined Universal mCloud, Corp. in 2016 and continues to manage activities at the IoT and AI operation as chief executive officer. Russ McMeekin, alongside Universal chief accounting officer Darren Anderson, recently spoke to Proactive Investors about the company’s strong Q2 2018 results.

Over the period, Universal mCloud’s (CVE:MCLD) consolidated revenue increased from $2.4 million to $3 million for a rise of 26 percent over the previous quarter. Gross margins, a strong point for the company due to Universal’s strategic approach to acquiring high margin innovative tech companies, held steady at 64 percent. Universal continues to demonstrate top line growth as the business moves towards profitability, though arguably the best news for the quarter involved the diversity of growth Universal saw across numerous technology types resulting from both strategic acquisitions and organic, in-house development. The company experienced similar success in terms of geographic diversification, with sales moving from the state of California throughout the United States and Canada, as well as certain Asian markets.

Notable customers for Universal have included some of the largest banking institutions in the US and Canada, including Bank of America. To learn more about IoT offerings from Universal mCloud, please visit the company online at www.mcloudcorp.com.

Universal mCloud Acquires Ascent Aerosystems

Since 2016, Russ McMeekin has served as CEO of San Francisco-based Universal mCloud Corp., a technology company that specializes in organic growth and acquisition-based strategies in the energy assets sector. As part of his work, Russ McMeekin oversees all of the company’s M&A activity, including the recent acquisition of Ascent AeroSystems.

Universal mCloud announced the acquisition in late September 2018, which will allow the company to leverage its proprietary AssetCare remote cloud control technology in an entirely new catalog of assets, including HVAC systems, wind turbines, and transformers for electrical transport systems. Assisted by artificial intelligence, Universal mCloud will be able to monitor the performance and overall condition of these assets in real-time, which will make possible more effective maintenance schedules and avoid lengthy downtime periods.

In his comments, Universal mCloud CEO Russ McMeekin said the addition of Ascent to the company’s portfolio will increase its ability to provide cloud monitoring and maintenance solutions to energy assets in hard-to-reach areas. He also said Ascent’s technology will work hand in hand with damage-assessment provider NGRAIN solutions, another recent Universal mCloud acquisition.

The Launch of an Annual mCloud Connect Conference

Russ McMeekin is a well established presence in the technology sphere who heads San Francisco-based Universal mCloud Corp as chief executive officer. In early September, Russ McMeekin’s firm announced the launch of an annual conference designed to bring together Internet of Things (IoT) and artificial intelligence (AI) thought leaders.

The mCloud Connect 2018 conference in Las Vegas was described as providing a distinct service to dozens of industry partners and customers in highlighting recent technology advancements that are driving its core value proposition, the AssetCare platform.

The new conference also reflects mCloud’s impressive organic and acquisition-driven growth, with its cloud-based solutions designed to ensure that measurable improvements are made in the performance of corporate assets such as HVAC units. New technologies acquired have bolstered the multifaceted approach mCloud provides in ensuring that equipment performance is optimized in ways that lower costs and improve overall operations. The keynote speaker arranged for the conference, John Picard, is a well known visionary who has successfully leveraged technology to boost environmental sustainability and efficiency.