Martello Technologies Group Inc V.MTLO

A Special Day

[Hertevald]

Five years ago today, December 18, 2017, Martello announced the signing of John Proctor as president and CEO. Happy Anniversary! In the announcement, Proctor is quoted, “It is an excellent chance for me to help scale further an already profitable business.."

So, how he has done? Since the company was still private in March 2018, I don`t know revenues and profits for that year. For the subsequent four fiscal years, the company had revenues of $10.3 million, $11.2 million, $16.8 million and $17.5 million and net losses of $5.4 million, $8.2 million, $6.3 million and $8.2 million. For the 6 months of FY2023, it had revenues of $8.0 million and a net loss of $3.4 million.

I wonder if that`s what Terry Matthews expected when he said, “Martello is primed for continued growth and is adding senior leadership experience to ensure they get there”?

[Mostlyserious]

So,, he inherited a $10m revenue business and then a $6m GSX during his rime as a CEO. The company turned in combined revenues just north of $60m and net losses of just north of  $30m.  Honestly, could anynoe have done worse?  At least if they were paid $100k instead of around $300k per year they would have reduced the losses by $1m. These two gentlemen clearly can see every day

[Mostlyserious]

"Martello Technologies is backed by Wesley Clover International, the investment management firm and holding company of Sir Terence Matthews. Through this relationship Martello is part of the Alacrity Global Ecosystem– enabling young business leaders to create world-beating new companies with the support of key local and international resources.These partnerships are key to Martello’s success.

[Mostlyserious]

From JP Linkedin: "Forward-looking and highly recognized IT leader who manages global teams that deliver services to multinational enterprise partners. Charismatic and dedicated professional, consistently meeting commitments. Build trusted relationships and collaborate well cross-functionally with internal and external stakeholders, achieving organizational objectives. Expertise