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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Martello Technologies Group Inc | TSXV:MTLO | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.005 | -25.00% | 0.015 | 0.015 | 0.02 | 0.015 | 0.015 | 0.015 | 2,000 | 15:26:52 |
Improvements to the sales and demand generation process reflect disciplined focus on operational excellence.
/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./
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 | 1,461 | 1,401 | ||
Gross Margin | 3,506 | 3,607 | 10,504 | 10,671 | ||
Gross Margin | % | 88.1 % | 89.0 % | 87.8 % | 88.4 % | |
Operating Expenses | 4,414 | 23,365 | 12,858 | 33,078 | ||
Loss from operations | (909) | (19,758) | (2,354) | (22,407) | ||
Other income/(expense) | (257) | (367) | (1,704) | (1,373) | ||
Loss before income tax | (1,166) | (20,125) | (4,058) | (23,780) | ||
Income tax recovery (expense) | (105) | (83) | 14 | (75) | ||
Net loss | (1,271) | (20,208) | (4,044) | (23,855) | ||
Total Comprehensive loss | $ | (1,101) | (18,614) | (3,910) | (23,218) | |
EBITDA (1) | $ | (267) | (18,838) | (913) | (21,428) | |
Adjusted EBITDA (1) | $ | (397) | (168) | (696) | (1,664) | |
(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.sedar.com, 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 Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions to optimize the modern workplace. The company's products provide actionable insight on the performance and user experience of cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end user experience monitoring and optimization. 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 execution of a strategy to reduce hosting costs, the aim to increase sales pipeline and revenue growth in FY25 with improvements to sales and demand generation processes, and the expectation that improvements to the sales and demand generation processes will drive growth in the Company's sales pipeline for Vantage DX, bringing sustainable shareholder value in the future. .
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.
Copyright 2024 Canada NewsWire
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