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Customers with a total of more than 70,000 users have purchased Vantage DX, with growth in sales pipeline generated year to date and more than 20 customers engaged in trials.
OTTAWA, ON, Jan. 19, 2022 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a leading developer of enterprise digital experience monitoring ("DEM") solutions, today provided a progress report on its recently launched Vantage DX single platform DEM solution for Microsoft 365 and Microsoft Teams. Note that Martello's fiscal year ends on March 31st.
In the Fall of 2021 Martello launched Vantage DX, in response to emerging post-pandemic hybrid workplace requirements. Since the launch, the Company has seen strong interest in Vantage DX:
Customers with a total of more than 70,000 users have purchased Vantage DX. This includes new customers as well as existing customers upgrading to Vantage DX.
More than 20 Vantage DX enterprise pre- and post-sales trials are in progress, with over 500,000 users in various stages of the trial cycle, from preparation to active deployment. Note that some users represent upgrades for existing customers, and these will not increase Martello's Microsoft user count should they convert to paid Vantage DX customers.
Martello generated approximately 70% more Microsoft DEM sales pipeline in Q3 FY22 than the previous quarter (Q2 FY22). Note that sales in FY23 will be driven by pipeline created in the second half of FY22.
With many businesses worldwide having rapidly deployed Microsoft Teams in 2020 to keep employees productive while working from home, monthly active Microsoft Teams users climbed to 250 million (Microsoft Q4FY21 Financial Results, July 27, 2021). With these businesses now bringing employees back to the office in a hybrid model, IT teams are turning to Vantage DX to identify and resolve performance issues such as network bandwidth or ISP limitations that impact the user experience in today's digital workplace.
A recent report produced by EMA Research illustrates how critical Microsoft 365 and Microsoft Teams are to the productivity of today's businesses. In a survey of 128 IT leaders, 81% said that Microsoft 365 is strategic or widely used across most functions of their business, yet only 10% of respondents have deployed proactive end-user monitoring, and Martello's Vantage DX addresses this gap.
Read the Report: The State of Microsoft 365 Performance Management
"We want to provide our internal end users with a seamless and stable Microsoft cloud service experience," said David Wenger, Product Owner Digital Workplace for Baloise Group. "With Vantage DX we are able to monitor all Microsoft's cloud services and proactively detect any potential or actual issues in all of our locations, so we can analyze and solve those issues before the end user even notices. Furthermore, we get the possibility to detect any bottlenecks and service performance issues. Last but not least, with Vantage DX we can also check the overall service availability that we promise our end users in terms of service level agreements."
In Q4 FY22, Martello is focused on expanding sales channels for Vantage DX, generating sales pipeline and converting trials into customers and monthly recurring revenue. To expand sales channels, the Company is actively working with Microsoft to identify those partners in their ecosystem that are uniquely positioned to accelerate Teams adoption and optimization. These partners (global systems integrators, telcos, managed service providers and cloud service providers) recognize the value Vantage DX can bring to their customers who are managing a UCaaS and Microsoft Teams environment in hybrid workplaces. After joining the Microsoft Global Solutions Alliance program in Q2 FY22, Martello continues to engage with Microsoft to bring its solutions to more of Microsoft's partners and customers, and to improve access to Vantage DX for Microsoft sellers.
"I'm pleased with the level of business activity our team has generated as a result of the Vantage DX launch", said John Proctor, President and Chief Executive Officer of Martello. "With demand growing, our focus is on shortening sales cycles and increasing bookings, as well as advancing key partnerships supported by our relationship with Microsoft. While we've seen a very promising response to the launch of Vantage DX, we have a process to move this interest to revenue and that remains ahead of us. We will continue to update the market as this progresses."
This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions focused on the Microsoft market. The company's products provide actionable insight on the performance and user experience of cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include Vantage DX, which provides Microsoft 365 and Microsoft Teams end user experience monitoring and optimization. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region. Learn more at http://www.martellotech.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including the outcome of pre-sales trials, the conversion of sales pipeline to increase bookings and revenue, the shortening of sales cycles, the outcome of partner activities, and the outcome of activities with Microsoft.
Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking information relates to the future, such statements are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:
Continued volatility in the capital or credit markets and the uncertainty of additional financing.
Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.
Changes in customer demand.
Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.
Delayed purchase timelines and disruptions to customer budgets, as well as Martello's ability to maintain business continuity as a result of COVID-19.
and other risks disclosed in the Company's filings with Canadian Securities Regulators, including the Company's annual information form for the year ended March 31, 2021 dated January 7, 2022, which is available on the Company's profile on SEDAR at www.sedar.com.
Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking information, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE Martello Technologies Group Inc.
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