Martello Technologies (CVE-MTLO) Stock Falls 39% Since RTO

Martello Technologies (CVE-MTLO)
Martello Technologies Group, Inc. (CVE:MTLO) stock has tumbled over...
Stay Ahead of the
Stock Market Game!
Subscribe to Small Cap
Exclusive for more


Why Pharmacyte Biotech Inc (OTCMKTS:PMCB) Shares Fel...
Ronin Capital, Llc is Buying Peregrine Pharmaceutica...
Feinberg Larry N is Buying Biolase Inc. (NASDAQ:BIOL...

Martello Technologies Group, Inc. (CVE:MTLO) stock has tumbled over 39% on the CSE since its reverse takeover transaction (RTO) on September 12, 2018. The stock fallen from $0.44 to $0.27.

Martello Technologies Group Inc. delivered impressive financial results for Q3 FY2019 helped by customer growth across all business lines. Expansion into high growth markets as well as the successful integration of acquisitions helped the company post a 44% increase in sales.

Q3 Financial Results

Revenue in the quarter totaled $3.1 million, representing a 136% year over year increase and 57% improvement from second quarter levels. Revenue for the first nine months of FY2019 totaled $7 million, representing a 105% increase.

Gross margin for the first nine months of the year totaled 93.7%, a 1% drop from 94.7% for the corresponding period last year. Amidst the robust revenue growth and solid gross margin, Martello plunged into a net operating loss of -$1.3 million compared to a net loss of -$18,961 as of the third quarter last year.

[thrive_leads id=’8276′]

Chief Executive Officer, John Proctor, has quashed concerns about the wider than expected net loss reiterating that investments made throughout the year have positioned the company for robust growth going forward.

Martello Outlook

During the year, the company achieved significant milestones expected to expand the addressable market, ideal for supporting revenue growth going forward. For instance, the company inked a strategic partnership with Paessler expected to make the company’s products available in the German market. Close ties with Mitel also continues to blossom depicted by the launch of Mitel Performance Analytics developed by Martello

An aggressive expansion drive has resulted in the deployment of Martello’s IT solutions in over 150 countries, creating a reliable stream of revenues. In addition, the company has diversified its revenue base on accruing a customer base made up of more than 5,000 customers.

The Company’s IT solutions and infrastructure continues to elicit strong demand from national as well as central bank institutions and hotels. Martello also continues to see an uptick in orders from large organizations such as the United Nations, KPMG, and United Postal Office.

Martello is also increasingly developing products to cater to the ongoing migration into the Cloud. The Company’s long-term vision is to become a leading provider of solutions for managing the performance of services in public, private, and hybrid cloud environments.

Stay in the lopp :

Welltower Inc. Picked Up Genesis Healthcare I...
In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Genesis Healthcare Inc. (NYSE:GEN) reported that Welltower Inc. has picked
88 Energy Limited (EEENF) Stock Is In Focus A...

Oil and gas company 88 Energy Limited (OTCMKTS:EEENF) had seen its stock collapse last month following an announcement with regards to an outage.

Regen Biopharma (OTCMKTS:RGBP) Stock Resumes ...

The Regen Biopharma (OTCMKTS:RGBP) stock seems to have come into favor among many investors this week. Over the course of the past week,

related post

Skip to content