Martello Reports Financial Results for the Third Quarter of Fiscal 2022 – QNT Press Release

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Microsoft DEM is the leading recurring revenue stream as Vantage DX momentum grows.

  • Total revenue in Q3 FY22 was $4.46Mwith 97% recurring and gross margins of 90%.
  • Microsoft DEM revenue grew for the third consecutive quarter. This revenue stream increased by 4% sequentially from Q2 to Q3 FY22, reaching $2.14M and 48% of total revenue in Q3 FY22.
  • Demand for Vantage DX grew in Q3 FY22, with 500,000 users entering trials, customers representing more than 70,000 users purchasing the product, and new sales pipeline increasing by 70% (compared to Q2 FY22).
  • The addition of Vantage DX to the Microsoft Azure Marketplace creates a new sales channel with incentives for Microsoft sellers.

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OTTAWA, ON, Feb. 15, 2022 /CNW/ – Martello Technologies Group Inc.(“Martello” or the “Company”) (TSXV:MTLO), a leading developer of enterprise digital experience monitoring (“DEM”) solutions for thousands of customers around the world, today released financial results for the three months ended December 31, 2021. Martello software provides businesses with actionable insights on the performance and user experience of cloud services such as video conferencing and unified communications (UC), with a focus on Microsoft 365 and Microsoft Teams.

“Momentum continues to grow for our Vantage DX product, with more than half a million users trialing or having purchased the product, over half of which represent new potential customers for Martello which gives us confidence that Vantage DX meets market needs and is differentiated competitively” , said John ProctorPresident and CEO of Martello. “We are also working with Microsoft to identify the partners in their ecosystem best positioned to bring Vantage DX to enterprises, in order to optimize their Microsoft Teams user experience, lowering their total cost of ownership and improving productivity. Though Martello’s performance over the last year has been challenging amidst longer sales cycles related to COVID-19 and efforts on the new product offering, this significant increase in commercial activity since the launch of Vantage DX is very encouraging.”

Q3 FY22 Financial Highlights

Martello Technologies Group Inc.

Unaudited

(in Canadian dollars)

Financial Highlights

December 31,

2021

December 31,

2020

December 31,

2021

December 31,

2020

(in 000’s)

(Three months ended)

(Nine months ended)

Sales

$

4,455

4,633

13,269

12,355

Cost of Goods Sold

433

309

1,209

716

Gross Margin

4,021

4,324

12,059

11,639

Gross…

Full story available on Benzinga.com

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