Improvements to the sales and demand generation process reflect disciplined focus on operational excellence.
Significant improvements to sales and demand generation processes implemented to increase sales pipeline and revenue growth in FY25.
Standardized Vantage DX Trial launched in FY24 results in new Vantage DX professional services revenue in Q3 FY24.
The Mitel business line continues to provide a stable recurring revenue base as the acquisition of Unify expands Martello’s addressable market. Interest in the Vantage DX solution has grown, with Mitel and its partners in the United States and United Kingdom working closely with Martello to bring the solution to their customers.
Chairman Terence Matthews demonstrated his continued confidence in Martello by providing CAD$1.75M in an unbrokered private placement of Martello common shares in December 2023.
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OTTAWA, ON, Feb. 14, 2024 /CNW/ – Martello Technologies Group Inc., (“Martello” or the “Company”) (TSXV:MTLO), a provider of software that optimizes the Microsoft Modern Workplace environment, today released financial results for the three and nine months ended December 31, 2023. Martello software provides businesses with actionable insights on the performance and user experience of cloud services such as video conferencing and voice calls, with a focus on Microsoft 365, Microsoft Teams and Mitel unified communications.
Terence Matthews, Chairman of Martello Technologies expressed confidence in the upside potential for the Company: “In a global era where enterprises, managed service providers and channel partners face escalating challenges in delivering seamless and reliable user experiences for real-time communications and collaborations systems, Martello stands as a beacon of expertise”, said Mr. Matthews. “This unique expertise has strategically positioned the Company within the rapidly growing Microsoft Teams market and the Mitel global ecosystem, which has notably expanded with the recent acquisition of Unify. Vantage DX continues to capture significant client activity and the Martello technology allows for a substantial reduction in tech support personnel. I remain a strong supporter of Martello and confident in the capabilities of the Martello team as they prioritize customer satisfaction, revenue growth, and shareholder value.”
“As we pursue operational excellence with alignment and focus on core objectives across the Martello team, I am optimistic about the significant improvements we’ve made to our sales and demand generation processes,” said Jim Clark, Interim Chief Executive Officer and Chief Financial Officer of Martello. “We expect these improvements to drive growth in our sales pipeline for Vantage DX, bringing sustainable shareholder value in the future. There is growing recognition that Microsoft Teams performance problems have a significant impact on organizational productivity and bottom line. Vantage DX provides these organizations with the tools needed to deliver a seamless and reliable user experience.”
Q3 FY24 Financial Highlights
Financial Highlights
December 31,
December 31,
December 31,
December 31,
(in 000’s)
2023
2022
2023
2022
(Three months ended)
(Nine months ended)
Sales
$
3,979
4,054
11,965
12,072
Cost of Goods Sold
473
447