IMU Step broadens Vicon’s addressable market
IMU Step provides a platform to strengthen Vicon’s recurring revenue
14th November 2017 - Oxford Metrics plc (LSE: OMG), the international software company servicing government, life sciences, entertainment and engineering markets, is pleased to announce that IMeasureU, a division of motion measurement leader Vicon, has launched IMU Step, a new piece of motion-sensing wearable tech designed to track the movements of professional and amateur athletes.
When Oxford Metrics announced its new five-year plan last year one of the key financial goals was to treble recurring revenue by 2021. One of the great strengths of the Group’s Yotta business is the increasingly recurring nature of its revenue base. Vicon’s revenue base, by comparison, has considerable repeat business but a lower level of recurring revenue. IMU Step will be sold on a SaaS-basis, giving Vicon a platform to create a meaningful recurring revenue base.
Consisting of two small, lightweight sensors that produce highly accurate movement data, IMU Step gives coaches and athletes the ability to precisely measure the movements and stress put on athletes’ bodies. For running-based sports like basketball, where over 40% of injuries are sustained on the foot and ankle, constant metrics alert trainers and coaches to potential problems before they happen. This ensures athletes are at optimal strength before returning to competition and enables strategic planning that personalises the rehabilitation process, preventing future injuries.
Early units are already being used by both professional sports and collegiate programs alike, including the NBA and Pac-12 schools to help train and rehabilitate athletes across a wide variety of sports. Harvard University recently used IMU sensors to study the impact on runners in the Boston Marathon. The University is also preparing to use the sensors in an NBA/G co-funded study designed to measure bone stress injuries in collegiate and professional basketball players, and monitor changes as a result of fatigue.
Commenting on the product launch, Nick Bolton, CEO of Oxford Metrics said:
“When we announced our new five-year plan, our strategy for Vicon was to enhance our product strength and fortify our market leading position. The launch of IMU Step does exactly that – it takes motion measurement outside the lab into the real world, opening up a greater range of measurement applications and providing access to a broader marketplace. The product is also sold on subscription and will increase the quality and recurring nature of Vicon revenue, a key financial goal for our business.”
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