Martello Technologies’ revenues fell seven per cent in the third quarter compared with a year earlier as the company continues to focus on emerging products aimed at Microsoft users. The Kanata-based firm, which makes software that improves the performance of cloud-based business applications such as Microsoft Teams, posted revenues of $3.7 million for the three-month […]
Martello Technologies’ revenues fell seven per cent in the third quarter compared with a year earlier as the company continues to focus on emerging products aimed at Microsoft users.
The Kanata-based firm, which makes software that improves the performance of cloud-based business applications such as Microsoft Teams, posted revenues of $3.7 million for the three-month period ended Dec. 31, 2024.
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.
Monthly recurring revenue from Vantage DX products rose five per cent year-over-year. Meanwhile, Martello’s revenues from sunsetting legacy products declined by 13 per cent.
The company said the ongoing drop in revenues from legacy products is “proceeding as expected.”
The firm had a net loss of $1.8 million, up from $1.3 million in the same period last year, an increase the company attributed mainly to the decline in revenues.
Martello shares were trading at one cent on the TSX Venture Exchange early Friday afternoon. 
