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Dubber Corporation Limited (ASX:DUB) is a call recording service provider company whose Software as a Service offering removes the need for hardware, productization or capital expenditure. In November 2018, the company reported record revenue of $517k an increase from $300k reported for September. Recently, the company has announced key developments and relationships with BroadCloud Carrier, IBM and growing telecommunications service provider agreements which have contributed to the increased revenues. At the end of November, the Company completed a $5 million capital raising event through a placement and also received capital of $1.7 million relating to the Ausindustry Research and Development Grant.
In the US, the company has opened an office in Dallas, Texas, which sees Co-Founder and General Manager, Channels, Adrian Di Pietrantonio moving from Australia to oversee the companyâs Unified Communications relationships.
In the September quarter, the companyâs active user numbers increased by 51% to 44,420 from 29,405 in the previous quarter. In October 2018, the company had signed an agreement with IBM for delivery of a Cognitive Call Listening and Recording service which combines proprietary technologies of IBM and Dubber for distribution by IBMâs global sales channels and Dubberâs network of Service Providers.
The company is currently headed by Mr. Steve McGovern who is the Managing Director of the company. During FY 2018, the company paid a total remuneration of $669,142 to its Managing Director which is $333,326 or 99.26% higher than the remuneration paid in FY 2017. The remuneration of Mr. Steve McGovern includes Salary and Fees of $240,000, Cash Bonus of $150,000, Long Term Benefits of $11,982, Superannuation of $22,800 and Share-Based Payments of $244,360. In FY 2018 Mr. Steve McGovern received 100% of his bonus. The company paid a total of $2,233,257 in Remuneration of all the Executive Directors, Non-executive Directors.
In FY 2018, the company earned a revenue of $3.188 million which was 62% higher than the prior period. The company incurred a loss of $11.319 million which was 15 percent higher than the previous year. During the year, the company signed agreements with some of the worldâs leading telecommunications carriers for the provision of the Dubber platform as part of their core network infrastructure. As at 30 June 2018, the Group had net assets of $10.9 million (2017: $7.35 million) and cash reserves of $5.67 million.
As per Mr. Steve McGovern, the company is in a dominant position in the telecommunications service provider sector as those providers move increasingly towards the adoption of cloud services as part of their core infrastructure offerings. The company is currently focusing on increasing the number of active users of the service and increasing revenue from users of the Dubber Platform.
In the last six months, the share price of the company decreased by 8.89 percent as on 18 January 2019. DUBâs shares traded at $0.400 (-2.439% intraday) with the market capitalization of circa $62.42 million as on 21 January 2019 (AEST 4:00 PM).
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