Martello Reports Financial Results for the Third Quarter of the 2024 Fiscal Year

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Improvements to the sales and demand generation process reflect disciplined focus on operational excellence.   

  • Significant improvements to sales and demand generation processes implemented to increase sales pipeline and revenue growth in FY25.

  • Standardized Vantage DX Trial launched in FY24 results in new Vantage DX professional services revenue in Q3 FY24.

  • The Mitel business line continues to provide a stable recurring revenue base as the acquisition of Unify expands Martello's addressable market. Interest in the Vantage DX solution has grown, with Mitel and its partners in the United States and United Kingdom working closely with Martello to bring the solution to their customers.

  • Chairman Terence Matthews demonstrated his continued confidence in Martello by providing CAD$1.75M in an unbrokered private placement of Martello common shares in December 2023.

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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.

Martello Technologies Group logo (CNW Group/Martello Technologies Group Inc.)
Martello Technologies Group logo (CNW Group/Martello Technologies Group Inc.)

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."