Martello Technologies said Thursday its quarter revenues surged 30 per cent year-over-year as sales from its Microsoft customers surpassed its traditional Mitel channel for the first time.
The Kanata-based network troubleshooting software firm reported revenues of $4.4 million for the three-month period ending June 30, the first quarter of its 2022 fiscal year. That’s up from $3.3 million a year earlier, largely due to gains in Martello’s Microsoft sales channel after its 2020 acquisition of GSX Participations, which caters to Microsoft 365 users.
Still, Martello (TSX-V:MTLO) posted a loss of $2.17 million, up slightly from $2.08 million the previous year. The firm attributed the growing losses to an increase in operating expenses and higher interest expenses on a term loan.
(Sponsored)
DYMON and The Ottawa Mission celebrate record-breaking Giving Tuesday success
The Ottawa Mission is celebrating a historic Giving Tuesday after raising more than $1.1 million in support of people experiencing homelessness, hunger, and poverty — the most successful Giving Tuesday
Family-owned Coke Canada Bottling investing to grow in Ottawa-Gatineau
Have you ever wondered where your favourite Coca-Cola products come from? Few people in know that over 300 popular beverages products, like Coca-Cola, Coke Zero, Fuze, Fanta, Monster Energy, A&W
Martello, which helps customers detect and repair problems in their high-speed communications networks, now gets its income from two main sources: performance-analytics software aimed at Mitel customers and analytics and network-monitoring platforms for Teams and other Microsoft products.
About 2.8 million Microsoft users are on Martello’s platform. The company says that’s on track to rise to 3.5 million by the end of the 2022 fiscal year.
