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Martello Reaches $1.5M in Monthly Recurring Revenues and Positive Adjusted EBITDA in First Quarter of Fiscal 2021
Martello Reaches $1.5M in Monthly Recurring Revenues and Positive Adjusted EBITDA in First...
About this update from Martello Technologies Group, Inc.
[{"type":"text","content":"\n\n\n\nMartello Reaches $1.5M in Monthly Recurring Revenues and Positive Adjusted EBITDA in First Quarter of Fiscal 2021\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, ON, Aug. 27, 2020\n\n\n\nDemand for digital experience monitoring accelerates, while acquisition of GSX helps drive 59% increase in MRR year over year with 98% of revenues recurring. \nNOT 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.\n OTTAWA, ON, Aug. 27, 2020 /CNW/ - Martello Technologies Group Inc., (\"Martello\" or the \"Company\") (TSXV: MTLO), a developer of enterprise digital experience monitoring (\"DEM\") solutions that improve the user experience for cloud applications and services such as video conferencing and telephony for more than 5,000 customers around the world, today released financial results for the three months ended June 30, 2020. Note that Martello acquired GSX Participations SA (\"GSX\"), a provider of end-user experience monitoring solutions for Microsoft 365 on May 29, 2020, therefore these results include one month of GSX financial information.\n\n \n \n \n \n \n \n\n \n\"We're very pleased with the revenue growth reported in this quarter's results. After initial customer caution early in the fiscal quarter related to COVID-19, demand for remote cloud collaboration and productivity services accelerated throughout the remainder of the quarter, bringing Martello new DEM deals\", said John Proctor, President and CEO of Martello. \"With our growing technology advantage, Martello is well positioned to become the dominant player in the emerging DEM market as adoption of cloud applications and services grows. We will maximize this opportunity going forward, balancing profitability with key investments to expand high margin monthly recurring revenue, which we believe will maximize shareholder value\". \nQ1 FY2021 Highlights\nQ1 FY2021 was an active and transformative ...