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Deals add more than 110,000 new Microsoft
users to Martello DEM platform in Q4 and bring a leading European
retailer as a client.
OTTAWA, ON, March 23, 2021 /CNW/ - Martello Technologies
Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a developer
of enterprise Digital Experience Monitoring ("DEM") solutions is
providing an update today on its sales progress to date in the
Company's final quarter of fiscal 2021. Sales highlighted in this
press release demonstrate growth in Microsoft DEM users and
contribute to monthly recurring revenue ("MRR") in the future,
consistent with the growth plan communicated by the Company on
January 20, 2021. Note that Microsoft
DEM user count trends may not always directly align with trends in
revenue, due to timing of subscription renewals and the lag between
bookings and revenue.
In the 2022 fiscal year, Martello aims to increase the number of
Microsoft users on its DEM platform by 60% (from a base of
2M users in Q2 FY21). To achieve this
growth, the Company will focus on expanding indirect sales
channels, launching key DEM product innovations and pursuing direct
sales to large enterprises.
Martello is focused on accelerating MRR through the growth of
its DEM solutions, and in particular those targeted at businesses
using Microsoft 365. The Company's Microsoft DEM solution suite,
which provides digital user experience monitoring and analytics to
enterprises, includes the Gizmo and iQ products. Martello sells
these products to enterprises through both direct and indirect
channels.
Martello highlights the following strategic sales deals
completed in Q4 to date:
- A retailer, among the top 10 European retailers by revenue, is
a new client for Martello this quarter, having chosen Gizmo to
monitor their Microsoft 365 user experience. The customer made an
initial purchase of licenses for 45,000 users in a 3-year
subscription.
- Having chosen Gizmo earlier in FY21, one of the world's largest
Microsoft partners added more than 65,000 new users to Martello's
platform in January and February, as part of a continuing monthly
rollout plan. This increases Martello's recurring revenue from this
partner. The Company plans to replicate the success of this model
by onboarding new Microsoft managed service providers ("MSP")
through an expanded Microsoft DEM indirect sales program launching
in FY22.
- After a paid proof of value that added 14,000 Microsoft users
to Martello's DEM platform in Q3 FY21, a South American engineering
firm chose in Q4 FY21 to purchase a 12-month Gizmo contract, which
increases Martello's base of subscription revenue from this client
going forward.
- Two large Martello customers, a global telecommunications
company and one of the world's largest banks renewed their
subscriptions for Microsoft 365 monitoring this quarter, securing
more than 275,000 users for an additional twelve months.
- Martello's OEM relationship with Paessler continues to generate
steady iQ business, bringing new deals in Q4 FY21, including an
existing Fortune 50 Gizmo customer who added iQ to their DEM
technology stack with the PRTG monitoring solution. This reinforces
the value proposition of correlating and analyzing monitoring and
service delivery data to bring actionable insights to large
enterprises.
Martello continues to focus on its growth strategy, including
preparing to launch its DEM MSP Program and completing the
development of new solutions addressing the 'work from anywhere'
digital workforce. By adding real user monitoring and advanced
network path monitoring capabilities to its DEM platform in 2021,
Martello will increase competitive differentiation and enable IT
teams to quickly pinpoint whether problems are related to the cloud
provider, ISP, or the user's network, for better support of remote
workers. Martello is actively working with prospects and customers
to complete beta trials and offer early access to these
capabilities when they become generally available.
About Martello Technologies Group
Martello
Technologies Group Inc. (TSXV: MTLO) is a technology company that
provides digital experience monitoring (DEM) solutions. The
company's products provide monitoring and analytics on the
performance and user experience of critical cloud business
applications, while giving IT teams and service providers control
and visibility of their entire IT infrastructure. Martello's
software products include unified communications performance
analytics, Microsoft 365 end user experience monitoring and IT
service monitoring and analytics. 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
Any financial outlooks provided in this news release are
preliminary and investors are cautioned not to place undue reliance
on the foregoing information. Any financial outlooks provided in
this news release constitute "forward-looking information" within
the meaning of applicable Canadian securities laws, are based on
several assumptions and are subject to a number of risks and
uncertainties. Actual results may differ materially. See
"Cautionary Note Regarding Forward-Looking Information".
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.
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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 securities laws. 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. Examples of
forward-looking information contained in this news release include,
among others, statements with respect to the aim to increase the
number of Microsoft users by over 60% by the end of the 2022 fiscal
year; plans to add real user monitoring and advanced network
path monitoring capabilities to its DEM platform in
2021; the expansion of the Company's work from
anywhere Microsoft 365 DEM solution
in fiscal year 2022; the conducting of beta trials in fiscal year
2022; and the launch of the DEM MSP program in fiscal
2022.
Forward-looking information is neither historical fact nor
assurance of future performance. Instead, they are 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, they 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
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;
- 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, 2020 dated December 24,
2020, which is available on the Company's profile on SEDAR
at www.sedar.com.
Any forward-looking information in this news release is based
only on information currently available to us 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.
Financial Outlooks and Future-Oriented Financial
Information
To the extent any forward looking information in this press
release constitute "financial outlooks" within the meaning of
applicable Canadian securities legislation, such information is
being provided as certain estimated financial metrics and the
reader is cautioned that this information may not be appropriate
for any other purpose and the reader should not place undue
reliance on such financial outlooks. Financial outlooks, as with
forward looking information generally, are, without limitation,
based on the assumptions and subject to various risks and
uncertainties as set out herein. The Company believes there is a
reasonable basis for the expectations reflected in the financial
outlooks, however these expectations may not prove to be correct
and the Company's actual financial position and results of
operations may differ materially from management's current
expectations and the information provided in this press
release.
SOURCE Martello Technologies Group