Martello Technologies says its revenues declined five per cent in the first quarter of fiscal 2025 compared with a year earlier as it shifts its focus to products aimed at Microsoft users. The Kanata-based software company, which makes software that improves the performance of cloud-based business applications such as Microsoft Teams, posted revenues of $3.8 […]
Martello Technologies says its revenues declined five per cent in the first quarter of fiscal 2025 compared with a year earlier as it shifts its focus to products aimed at Microsoft users.
The Kanata-based software company, which makes software that improves the performance of cloud-based business applications such as Microsoft Teams, posted revenues of $3.8 million for the three-month period ended June 30.
That’s down from $4 million in the same quarter a year ago as the firm phases out legacy products in favour of its newer Vantage DX software for customers of Teams and other Microsoft 365 products.
While revenue from Vantage DX products rose 18 per cent year-over-year, Martello’s revenues from sunsetting legacy products fell 12 per cent.
The firm posted a net loss of $1 million in the first quarter, down from $1.2 million a year earlier. The company attributed the improvement in its bottom line mainly to a reduction in operating expenses, including lower labour costs.
CEO Jim Clark said Martello is “rapidly executing on significant change and improvement initiatives” to grow its Vantage DX business, adding it is “making targeted investments and repurposing resources” in an effort to boost market demand and add new sales channels for the software.
“Together with the management team and board of directors, I am monitoring the impact of these improvements closely to ensure they drive value for customers and shareholders,” Clark said in a statement.
“We continue to look deeply at every step of the value chain to find opportunities for improvement.”
Martello shares were trading at one and a half cents on the TSX Venture Exchange early Friday afternoon. 
