MyFiziq Ltd (ASX:MYQ) has received first revenue from its online technology designed to measure the body and track progress over time.
The company has received $188,560 in revenue during the current quarter.
Early revenue is from partners paying MyFiziq to complete their app builds ready for launch in early 2018.
Revenue is expected to increase substantially as tens of millions of potential subscribers start accessing the apps.
Three major partnerships
The company has signed partnerships with the large U.S.-sourced fitness apps Fitocracy and FitLab LLC’s Mayweather Boxing + Fitness as well as with Indian sports business identity Ravi Krishnan.
Fitocracy is an online fitness and social network that aims to help its more than 2 million users improve fitness and wellness.
It is among the world’s top 5 social fitness platforms.
The agreement will see MyFiziq’s body shape tracking app integrated into Fitocracy’s fitness community and personal coaching app.
FitLab will integrate MyFiziq’s app into Mayweather Mobile and deliver it to Mayweather’s fans and the broader fitness enthusiast community.
Mayweather has 41 million social media followers in aggregate.
In India, MyFiziq will integrate its platform into a number of health, fitness, wellness and sporting organisations that Krishnan advises.
Revolutionary technology
MyFiziq is a revolutionary technology embedded in a partner’s app that uses pictures from a smart phone to create a representation of a human body in the form of a 3D avatar.
This provides accurate circumference measurements of specific areas, such as chest, waist, hips and thighs that can be stored and tracked over time.
Body measurements that track changes in shape or size of the body provide additional and often more useful information than simply measuring weight or BMI.