viewVonex Ltd

Vonex hits record 27,000 registered users as growth accelerates

The company has recruited and approved 45 new channel partners in the 2019 financial year to date and remains on track to add 100 for the full year.

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The company's share price was up almost 15% intra-day to 12 cents

Vonex Ltd (ASX:VN8) continues to grow cloud-based private bank exchange (PBX) registrations with 27,000 registered users at February 21, 2019.

The growth in registrations is a key indicator that Vonex’s business development progresses as the company deepens its penetration of the multi-billion-dollar Australian market for telco services to small and medium enterprises.

This graph shows the consistent growth the company has delivered over the past two years and reflects the net addition of more than 1,000 new active users in less than one month.

The company has also delivered a January record for new customer orders, up 28% from the same month last year.

Factors driving this customer and user growth include:

- Implementation of the company’s channel partner-focused sales software, Sign on Glass (SOG), which has accelerated average deployment time for a hosted PBX customer to 48 hours;

- The continued rollout of the National Broadband Network (NBN) in metropolitan areas;

- The beginning of the company’s targeted online marketing across all states after successful completion of pilot marketing testing; and

- Improved engagement with new and existing channel partners.

READ: Vonex on track for disruptive Oper8tor app to be available in March

The company’s channel partners are helping accelerate growth in the business by selling Vonex’s proprietary technologies, including its cloud-based PBX and Vonex-branded traditional mobile, internet and business phone systems.

The company expects to deliver continued strong growth in registered PBX users as its marketing program gains traction with SME customers across the capital cities of Australia.

- Jessica Cummins

Quick facts: Vonex Ltd

Price: 0.115 AUD

Market: ASX
Market Cap: $19.66 m

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