The Perth-based Vonex Limited (ASX: VN8
) is a telecommunications service provider offering traditional fixed lines, mobile internet, and under the Vonex brand, it hosts PBX and VoIP services to the small and medium enterprise customers.
Currently, it is progressing with the development of Oper8tor, a multi-platform real-time voice, messaging and social media app.
On March 28th, 2019, Vonex released an update on the advancement in the launch of the Oper8tor app, as well as other operational highlights.
Significant headways have been achieved concerning the Oper8tor messaging functionality with successful chat testing conducted by connecting two major social media platforms through the test Oper8tor messaging platform, with a third imminent. Besides, the screen designs for the user interface are currently being refined for the commercial launch.
The recent changes to social media users’ account security have created a wider scope of work for Vonex’s development team working on the app. Therefore, the launch of the Oper8tor app in Australia which was initially planned for the end of March has not now been postponed to the June quarter to incorporate the new changes to work across platforms.
The company’s Managing Director, Matt Fahey stated that the additional time input into developing the app would ensure a better experience for the users after its launch. He believes that the most exciting element which would aid the app scale is that their product is agnostic and can target many communication platforms. He believes that before the launch of the app, the company should focus on the integration of social media, on the back of the recent announcement made by Facebook on its security changes.
Recently, Vonex achieved a major milestone by making Oper8tor conference ready for white labelling to businesses, and the management believes that this would enable Vonex business customers to brand Oper8tor conference. Vonex is also working on integrating technology from Oper8tor conference into Oper8tor app and has plans to deploy the app into a larger market of Europe post the finalisation of the Australian launch. The company anticipates launching in Europe in early F20.
The MD highlighted that the company witnessed record month in February with twenty-seven thousand active registered users of the company’s Private Branch Exchange system during February. New customer order value was up 34 percent y-o-y. Vonex reportedly added 55 new Channel Partners in FY19 to date.
VN8 had announced its Q2 FY2019 results on 1 February 2019, more on this could be read here.
The stock has delivered a YTD return of 13.64%. However, the stock has been volatile in trade for the past few months, and it has delivered returns of -23.08%, 25%, and -4.76% in the past six months, three months and one month respectively.
The shares of VN8 closed at A$0.105 on ASX (As on 28 March 2019) up by 5% as compared to its previous day’s close.
VN8’s market capitalization is $14.89 million. The ASX reported average trading volume is 143,450. The company’s EPS stood at -0.011 AUD, as per the latest ASX update.
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