Martello Reports Financial Results /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./
Renewed discipline on business priorities and operational excellence focused on driving revenue growth, positive cash flows and earnings. Disciplined management of operating expenses and working capital have created a stable foundation for investment in growth.
- Technology leader Paul Butcher joins Martello's Board of Directors, bringing a track record of driving innovation and catalyzing transformative business changes.
- Interim CEO Jim Clark to prioritize disciplined execution of Martello's strategic plan within revamped business management constructs.
- FY23 actions to reduce costs and Q2 FY24 re-engineering of long-term debt have improved Martello's adjusted EBITDA by 88% in Q2 FY24 and increased working capital.
- As partners leverage Vantage DX to expand their service offerings and revenue streams, Orange Business Services, a Microsoft partner, added Vantage DX to its managed service offering. The solution helps Orange Business Services proactively measure and manage their customer's experience of Microsoft Teams.
- The Mitel business line continues to provide a stable and profitable recurring revenue base with a 2% increase in Q2 FY24 to $1.76M. Martello is also demonstrating Vantage DX to interested Mitel partners in the United States and UK for the large number of Mitel users who also use Microsoft Teams. The recent acquisition of Unify by Mitel brings long-term upside potential.
- Chairman Terence Matthews demonstrated his continued confidence in Martello by providing USD$3M in additional debt financing through Wesley Clover International Corporation to repay the remaining Vistara debt in full, extending the maturity date to 2026.
OTTAWA, ON, Nov. 21, 2023 /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 months ended September 30, 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.
Martello Reports Financial Results for the Second Quarter of the 2024 Fiscal Year (newswire.ca)