Wednesday, August 28, 2019 7:27:45 AM
Q1 F2020 Highlights
•Revenue in the first quarter of FY2020 was $3.3 million , an increase of 72% over the same period in FY2019. Organic revenue from sales of unified communications (UC) performance analytics software to the Mitel channel grew 37% this quarter, compared to Q1 FY2019.
• Recurring revenue was 87% in the first quarter of fiscal 2020, which was higher than Q1 FY2019, due to strong recurring revenue from IT Operations analytics software and a higher proportion of recurring revenue from the SD-WAN and link balancing product line.
• Gross margin as a percentage of revenue was 92.7% for the first quarter of fiscal 2020, compared to 93.5% in Q1 FY2019.
• The loss from operations in Q1 FY2020 was $963,080 compared to a loss of $762,638 in Q1 FY2019. Q1 FY2020 includes non-cash amortization of $258,084 from the acquisitions of Elfiq and Savision, and acquisition related costs of $30,878 .
• Adjusted EBITDA, a non-IFRS financial measure which assesses operating performance before the impact of costs associated with acquisition activity and other non-cash costs, amounted to a loss of $498,414 for the three months ended June 30, 2019 compared to a loss of $249,042 for the three months ended June 30, 2018 .
• The increased loss from operations quarter over quarter and Adjusted EBITDA loss is due to investments in sales, sales operations, marketing and support services, as well as new systems, for the purpose of creating a strong platform for revenue growth. In addition, professional and other fees have increased as a result of public company reporting requirements and investor relations activities.
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM
Bemax Inc. Positions to Capitalize on Industry Growth with New Improved Quality of Mother's Touch® Disposable Diapers • BMXC • Jun 24, 2024 8:00 AM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM