- Martello (MTLO) has announced cost optimization measures to accelerate cash flow and profitability
- It identified and eliminated approximately 20 per cent or C$4M of annualized run rate costs
- The reduced expenses will be fully realized in Q3 FY23
- The company will also seek to increase recurring revenue from Vantage DX, its flagship SaaS solution, through streamlining the sales process and a renewed focus on core KPIs and key partnerships
- Martello is a technology company that provides digital experience monitoring solutions to optimize the modern workplace
- Martello Technologies Group (MTLO) is unchanged trading at $0.03 per share
Martello (MTLO) has announced cost optimization measures to accelerate cash flow and profitability.
The strategy is driven by the consolidation of its products into a single offering, Vantage DX, its flagship SaaS software to optimize the Microsoft Teams and Microsoft 365 user experience.
The company identified and eliminated approximately 20 per cent or C$4M of annualized run rate costs, including headcount reductions and reduced vendor, lease and consulting spend. The decreased costs will be fully realized in Q3 FY23.
Martello will also seek to increase recurring revenue from Vantage DX by streamlining the sales and trial process, disciplined management of core KPIs, and operational focus on Microsoft and other key partnerships.
“Demand for the Vantage DX product, launched in late 2021, is strong within the Microsoft ecosystem. Management and Martello’s Board of Directors are confident that Vantage DX has a significant market opportunity which will drive profitable growth,” said John Proctor, Martello’s President and CEO.
Martello is a technology company that provides digital experience monitoring solutions to optimize the modern workplace.
Martello Technologies Group (MTLO) is unchanged trading at $0.03 per share as of 1:21 pm EST.
