ActivePort Group Ltd (“ActivePort” or “the Company”), (ASX:ATV) is pleased toreport $1.03M revenue for Octoberand accelerating software sales growth.
- Total revenue of $2.49M in Q1FY22 up 49% on previous corresponding period.
- Strong start to Q2FY22,with revenue of $1.03M in October.
- Ninenew SD-WAN partners signed in October, up from fivethe previous quarter.
- Deploying orchestration software to telecommunication companies in 14 countries.
ActivePort generates revenue from sales of software licensesand provision of technology services. High margin, recurring software license revenue growth is a key focus for the Company. Following a successful IPO in October, ActivePort is pleased to reportstrong revenue growth and an increasing contribution from software sales.
Total revenue is growing strongly from a base of $8.38M (pro forma) in FY21 to $2.49M in Q1 FY22 and a strong start to Q2 of $1.03M in October.
The revenues shown above for all but October FY22 are proforma and assume the consolidated group was in place during those periods. The effective date of consolidation was 27 September 2021. Q2 FY22 will be the first published results for the full ActivePort group.
Karim Nejaim, ActivePort CEO, commented:
“The number of customers for our software is increasing at pace as a result of the sales team’s hard work over the past four months. We’ve focussed on selling ActivePort to channel partners who on-sell it to their customers,and the success of that strategy is beginning to show.”
ActivePort’s technology is in demand globally and with ActivePort orchestration software being deployed attelecommunication operators in 14 countries, the Company is positioning itself to become an international leader in the network and cloud orchestration market.
ActivePort signed nine new partners in October, up 180% from the fivesigned in Q1FY22.Partners are now completing sales to their customers, which will drive accelerating software revenue growth over the coming months.
“Our partners are telecommunication companies, managed service providers (MSPs) and internet service providers (ISPs) that sell ActivePort software to their customers.As our partners rollout ActivePort,we expect our software revenue growth to accelerate.”
About ActivePort Group Ltd
ActivePort Group Ltd is an Australian software company that engineers, delivers and supports an SD-WAN 2.0 compliant data network and hybrid cloud orchestration product. ActivePort’s software lets customers manage alltheircloud hosting and networking technology end-to-end, from one single screen. Using ActivePort’s unique software, customers can create network connections, deliver cloud services, and manage their dataat a local, national or global scale. The result is simplicity, agility, speed, and lower costs.