mCloud Technologies Corp. provided financial guidance for the first half ending June 30, 2022 and for the second half ending December 31, 2022. Considering current visibility into recently signed contracts, master service agreements, the addition of new connected assets for existing AssetCare deployments, and the anticipated easing of pandemic restrictions, the company expects to deliver CAD 18 million to CAD 22 million in total revenue in the first half ending June 30, 2022.

For the second half of 2022 ending December 31, 2022, the company anticipates it will be able to further accelerate the onboarding of backlogged connected assets alongside new customer acquisition and delivery in tandem with the build-up of ESG-Digital Hubs in Saudi Arabia and Houston, targeting CAD 25 million to CAD 32 million in total revenue, benefitting from less sensitivity to fixed costs due to a larger base of AssetCare Over Time revenue.