/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./
In Q2 FY25 the Company strengthened its partner program, enhanced the customer experience, and accelerated product innovation to drive H2 Vantage DX revenue.
OTTAWA, ON, Nov. 14, 2024 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of user experience management solutions purpose-built for Microsoft Teams, Microsoft 365 and Mitel unified communications, today released financial results for the three months ended September 30, 2024. Martello's software proactively detects performance issues before they impact users of these enterprise cloud communications and collaboration systems.
Terence Matthews, Chairman of Martello expressed his belief in the value of providing multi-vendor experience management to Mitel and its partners: "Managing the user experience across Mitel and Microsoft Teams delivers substantial value, allowing channel partners to differentiate and reduce the cost of supporting these enterprise communication and collaboration systems," said Mr. Matthews. "Partners and telephony players recognize the opportunity to boost client satisfaction and retention, while also driving operational savings with Martello's solutions."
"Our targeted investments in H1 FY25 have set Martello up to accelerate Vantage DX growth through the partner channel", said Jim Clark, Chief Executive Officer of Martello. "I'm thrilled that we have successfully launched the Martello Partner Network, onboarding several new partners with growth in our channel pipeline. We will continue to recruit, onboard and activate targeted partners and work together with them to deliver Vantage DX features that provide compelling value, particularly for Microsoft premium services such as Teams Phone, CoPilot for M365 and Teams Rooms, which are seeing rapid adoption globally as businesses seek to drive hybrid workplace productivity."
Q2 FY25 Financial Highlights
Financial Highlights | September 30, | September 30, | September 30, | September 30, | |||||
(in 000's) | 2024 | 2023 | 2024 | 2023 | |||||
(Three months ended) | (Six months ended) | ||||||||
Sales | $ | 3,640 | 3,982 | 7,437 | 7,986 | ||||
Cost of Goods Sold | 509 | 506 | 1,005 | 987 | |||||
Gross Margin | 3,131 | 3,476 | 6,431 | 6,999 | |||||
Gross Margin | % | 86.0 % | 87.3 % | 86.5 % | 87.6 % | ||||
Operating Expenses | 4,197 | 4,158 | 8,244 | 8,444 | |||||
Loss from operations | (1,067) | (683) | (1,813) | (1,445) | |||||
Other income/(expense) | (198) | (885) | (605) | (1,447) | |||||
Loss before income tax | (1,265) | (1,568) | (2,418) | (2,892) | |||||
Income tax recovery | 13 | 2 | 128 | 119 | |||||
Net loss | (1,252) | (1,566) | (2,290) | (2,773) | |||||
Total Comprehensive loss | $ | (1,105) | (1,653) | (2,198) | (2,809) | ||||
EBITDA (1) | $ | (426) | (358) | (694) | (646) | ||||
Adjusted EBITDA (1) | $ | (582) | (99) | (775) | (300) | ||||
(1) Non-IFRS measure. See "Non-IFRS Financial Measures". |
The financial statements, notes and Management Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ at www.sedarplus.ca, and on Martello's website at www.martellotech.com. The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars.
This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Martello Technologies Group
Martello (TSXV: MTLO) is a technology company that provides user experience management solutions purpose-built for Microsoft Teams and Mitel unified communications. The Company's Vantage DX solution enables IT teams to deliver a frictionless Microsoft Teams experience to their users. With Vantage DX, IT can move from reactive to proactive by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes. This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region. Learn more at http://www.martellotech.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including the aim to increase Vantage DX revenue growth, the intention that targeted investments in H1 FY25 will accelerate Vantage DX growth through the partner channel, and management's aim to execute a strategy that will reduce hosting costs.
Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:
Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE Martello Technologies Group Inc.