Before bidding a final and much-anticipated “good riddance” to 2020, I would like to thank our customers, partners, and investors on behalf of the entire team here at Covalent Metrology for supporting us through such a difficult year.
Like so many other companies, Covalent encountered unforeseen and substantial headwinds over most of this past year. The pandemic, natural disasters, social upheaval and the election each contributed in their own way to making 2020 uniquely challenging. Our operations were heavily impacted, of course, and it was often difficult to keep our collective heads held high. But through it all, the team at Covalent remained dedicated to technical excellence and outstanding customer service. And I couldn’t be prouder.
A few highlights from a year filled with so many lowlights included:
- Growing our client base tremendously - Covalent now serves thousands of customers across more than 500 companies.
- Deepening relationships and growing revenues with returning customers - Covalent increased overall revenue by some 150%.
- Completing our first significant acquisition, welcoming the team from Riga Analytical Labs to form an expanded Failure Analysis
- Installing >$5M worth of cutting-edge, brand new analytical instruments - we now have >45 instruments in-house.
- Launching the Covalent Academy (and associated Community) and delivering nearly 20 virtual educational events to thousands of knowledge-seeking scientists and engineers.
- Developing and deploying a modern B2B analytical services website.
- Nearly doubling the size of our incredibly talented Covalent Metrology team.
Through an unprecedented set of challenges, Covalent has survived and thrived. We can see better times ahead and we are more excited than we have ever been about the opportunities before us.
This coming year will bring more investment and more change. We will broaden and improve our services, deliver better data even faster, and provide our customers with greater value and convenience.
Here is a glimpse of what the team is working on for the months ahead:
- Six new instruments and techniques to be introduced during the first months of 2021
- Greatly expanded lab space in Sunnyvale, including our very first clean room!
- New tools and systems for customer engagement and communication
- Improved interface and functionality and content in the Covalent Community
And that’s just the beginning of what will certainly be a dynamic and exciting year-to-come.
With so much news and so many exciting announcements on the horizon, we are pleased to introduce and hereby inaugurate The Covalent Blog. At minimum, we intend to use this forum as an efficient way to keep our customers and partners informed on news and events. We have some other ideas for additional content, so stay tuned!
In closing, it is with great gratitude and tremendous appreciation that we welcome 2021. We wish you all a very happy, productive, prosperous, safe and healthy New Year!