Yojee Limited Released Quarterly Activity Report For Q2 FY19

Yojee Limited (ASX:YOJ) recorded cash receipts of $136k for the quarter ended 31 December 2018, up 15% quarter-on-quarter. Its recognized revenue for December 2018 quarter was A$153k as it continues to focus on growing its SaaS recurring revenue streams over bespoke projects.

On Thursday, the company released its December 2018 quarterly activity report confirming the strong operational performance through the development and release of new capabilities, features and optimization tools.

The company’s recent developments include the release of its new 2.0 infrastructure and the release of the third version of its dispatcher platform ‘Kairos’. Yojee believes these advancements, which it continues to enhance, together with the growing client base, will position it for a strong 2019.Â

Yojee Managing Director Ed Clarke stated, “The December quarter was a great momentum building period in Yojee’s short history, in which the company achieved a strong uptick in new software customers, strong growth out of the freight business while achieving an 18.5% reduction in total operating spend.”

Software as a Service provider Yojee Limited inked nine new Software customer contracts during the quarter, including the 2 National Leaders and seven SMEs across three countries and a major contract upgrade out of Malaysia.

The four downstream partners were also added to the company during the reporting period. Yojee stated that the growth in downstream partner adoption underscores the value and scalability of the software partner network capability.

The company utilizes Artificial Intelligence and blockchain technology in the logistics business. It has recently penetrated the Finance logistics industry through its commercial partnership with Aero Line. The company told that this deal has created transactional growth in Malaysia and represents the movement of product documents to branches, legal partners, vendors, and sorting houses that makeup Kuala Lumpur’s finance logistics industry.

Also, the company’s SendYojee division continued to attract clients seeking a viable solution to cater for increased freight network volumes during this period. The company reported 28% of network volume contribution in the final month of the quarter through its ongoing partnership with one of the world’s largest parcel delivery companies, proving scalability of network and applicability to companies of all sizes.

SendYojee has reportedly realized a record quarter with 8,793 deliveries being logged in Singapore between Yojee and their downstream partners compared to 6,200 in the previous quarter. The company stated that key partnerships such as those with world-leading parcel delivery companies have contributed to this growth, in particular during the high volume period that encompasses Black Friday, Singles Day, Christmas and other dates significant to the eCommerce and thus logistics industries.

As announced on 29 January 2019, Yojee launched an Advisory Board through the appointment of Peter J F McLean and Christopher Logan. The founding advisory board members have world-class global experience with USD 4 billion-plus annual revenue businesses at board level with expertise in supply chain and logistics along with technology, sales, and marketing.

In today’s trading session, Yojee stock price surged up by 1.695% to last trade at $0.060 on 31 January 2019. YOJ has witnessed a negative performance change of 77.74% over the past 12 months.

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