Skyfii Signed Yet Another Deal With QSR Player Nando’s, 780 Restaurants Now running IO Platform!

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Skyfii Signed Yet Another Deal With QSR Player Nando’s, 780 Restaurants Now running IO Platform!

Skyfii Ltd (ASX: SKF) is the company engaged in the business of helping physical venues measure, predict, and influence customer behaviour. Today it has announced, the signing of a two-year contract, with Quick Service Restaurants (QSR) operated Nando’s.

The company highlighted that it would deploy Skyfii’s Software-as-a-Service (SaaS) recurring revenue ‘IO Platform’, in more than 260 Nando’s restaurants across South Africa.

 It is to be noted that, SKF last year had won Nando’s Australian, and Euro contract.  At present, across 520 Nando’s restaurants, Skyfii’s IO Platform has been deployed. With today’s announcement, the total number of Nando’s restaurants globally running the SaaS recurring revenue IO platform stands at 780. 

The company, in its press release, informed that this contract would get deployed in partnership with Infoprotect, a Skyfii authorised South African reseller. This reseller is a major ICT solution provider, offering managed solutions across five pillars.

The Chief Executive Officer of Infoprotect, Brad Fraser believes that this partnership with Skyfii would allow Nando’s to grow its customer base, engage directly and collect valuable customer data, thanks to its single easy to use platform.

The press release highlighted, the value delivered by Skyfii to Nando’s. The IO Connect solution would provide Nando’s South Africa a seamless guest WiFi captive portal experience, enriching the customer database, and deliver personalised content. Nando’s would be able to optimise customer engagement and enhance in-venue performance.

Wayne Arthur, the Chief Executive Officer of Skyfii, highlighted the traction SKF is witnessing post-Nando’s Australia, and other Nando’s international chain contracts. He believes that post 780 restaurants globally, Skyfiis solutions is a valued component of the Quick Service Restaurant industry.

Today’s announcement comes, on the back of Skyfii’s 5 March 2019, announcement of a three-year Master Services Agreement, with the North American retail chain group Cafaro. More on this could be read here.

Also, SKF on 26th February 2019, announced its first museum client within the United States of America. The company had signed a twelve-month contract, with the San Francisco Museum of Modern Art. The San Francisco Museum hosts more than one million visitors annually. This deal was a part of SKF’s cultural centre vertical. This vertical had announced, a partnership with the National Museum of Australia, in July 2017.

SKF’s Q2 FY19 results details could be read here.

The company posted a good set of 1H FY 2019 results. The group generated operating revenue of $4,666,345 in 1HFY19 vs. $2,677,161 in 1HFY18 a jump of 74.3 on previous corresponding period (pcp). The revenue growth was backed by a 51.7% increase in recurring revenues on pcp basis. The group reported an EBITDA turn-around by posting EBITDA of $291,979 vs. an EBITDA loss of $303,454 in 1HFY18. However, the company reported a net loss after tax of $1,233,754 for 1HFY19. The company did not declare any dividend for the period.

Stock Information:

The stock has been in an uptrend in the recent past. It has moved up by 6.45%, and 10.00%, in the past three months, and one month respectively.

By the closure of the trading session, the shares of SKF stood at A$0.165 on ASX (As on 07 March 2019).

Skyfii’s Ltd (ASX: SKF) market capitalization stands at circa A$51.51 million. The Stock has noted the 52-week high price of A$0.230 and 52-week low price of A$0.125. As per the latest ASX declaration the, company EPS stood at -0.007 AUD.


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