VN8 Announced Its Q2 FY2019 Results And Achievement Of 26,000 PBX Users

VN8 Announced Its Q2 FY2019 Results And Achievement Of 26,000 PBX Users

On 31 January 2019, Vonex Limited (ASX: VN8), a company which belongs to telecommunication services sector and is into the business of providing innovative VOIP solutions through its software development, announced its quarterly updates for the period ended 31 December 2018.

By the end of December quarter 2018, the company has reported a fall in the number of complaints which is an indication of strong customer satisfaction during the period. The monthly billing was above $740,000 in Q2 FY2019. VN8 launched Vonex Phone software for iOS, Android, Windows, and Mac. The software has helped in increasing the number of registered PBX users during the period.

During March 2019, the company has planned to release its Oper8tor Conferencing mobile app. The company also reported growth in the Channel partnerships where till date 38 new channel partners are added since the commencement of FY2019. The company also expects that the channel partners will reach 100 by the end of 30 June 2019.

VN8 will also be offering a discounted telco services to its shareholders in early 2019.

By the end of December quarter which ended on 31 December 2018, the company was successful in achieving $2.16 million in the form of unaudited revenue which represents a 7.5% growth year-on-year basis.

There was net cash outflow of A$0.319 million from the operating activities of the company. Here, the significant cash inflow was in the form of receipts from the customers. However, the company made payments in the form of costs of goods sold, advertising and marketing, leased assets, staff costs as well as the administration and corporate costs.

Sponsored ad by Kalkine

The company made payments to acquire property, plant, and equipment during the Q2 FY2019. As a result, the net cash outflow through the investing activities was A$0.078 million.

By the end of the Q2 FY2019, the net cash and cash equivalent with VN8 was A$3.837 million.

On 29 January 2019, VN8 announced that it has successfully achieved 26,000 registered active Private Branch Exchange (PBX) users as at 25 January 2019. The key indicator of VN8’s business development progress was the growth in cloud-based PBX registrations. The other reason which led to the business development progress was the entry of the company into the multibillion-dollar Australian market for the telco services to small and medium enterprises.

The 12 months report from the company stated that there was a growth in the PBX userbase by approximately 22%. The increase in the customer and user was driven by the constant rollout of NBN in the metropolitan areas.

Through these channel partners, VN8 will be receiving support in accelerating the growth in its business by selling the proprietary technologies which include the cloud-based PBX and Vonex-branded traditional mobile, internet and business phone systems. There is also a monthly increase in the number of registered PBX users to 500 members.

During the past six months, the stock has generated a negative performance of 41.48%. However, the stock has provided a negative YTD return of 10.23%.

The shares of VN8 traded last on 30 January 2019, where the closing price of the stock was A$0.079 with the market capitalization of A$11.76 million and 148.89 million outstanding shares.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report


Please enter your comment!
Please enter your name here