An experienced leader in the business sector, Russ McMeekin serves as CEO of Universal mCloud, a cloud technology company that deploys AI technology to help improve the efficient use of energy assets. Recently, Russ McMeekin briefed investors and the public on the company’s performance at the end of Q3 2018.
Universal mCloud's recent growth trends continued during the third quarter, as the company was able to secure new customers as well as broaden its offerings to current clients. Q3 also marked the final deployment of AssetCare, its algorithm-centric technology that monitors energy assets to make sure they are working efficiently to reduce costs. The company also secured deals to enter the competitive but potentially lucrative Chinese market, and has also begun taking steps to be listed on the NASDAQ exchange.
Q3 revenues topped $3.5 million, an increase from the $3.1 million earned in the second quarter and the $2.4 million generated in the first quarter of the year. The company’s margins also increased by 4 percent in the third quarter, reaching 68 percent.
