Quarterly Activities Report and Appendix 4C
Perth, July 25, 2016 AEST (ABN Newswire) - Flexiroam Limited (
ASX:FRX) ("the Company") responds to the increasing needs for data with the launch of its new innovative Flexiroam X, a product which keeps travellers online at affordable rates.
Key Performance Highlights
- Flexiroam is pleased to announce that its overall subscriber base has shown a steady increase to 822,584 subscribers as at 30 June 2016.
- Sales revenues showed promising increases in the June 2016 quarter evidencing traction gained from the launch campaign of FLEXIROAM X.
Advertising & Marketing
- During the quarter ended 30 June 2016, the Company's focus was on rolling out FLEXIROAM X.
- In a generally more competitive data market environment, the Company spent A$987,249 in the current period on advertising and promotion to attract new subscribers with the launch of FLEXIROAM X, to capture data roaming market share.
- Promotion Codes which allow subscribers to collect up to 100GB free data were distributed in large quantities to facilitate the Company's aggressive customer acquisition strategy.
- Strategic partnerships were forged with travel related entities to increase the Company's subscriber base and expand its geographical reach, by providing free Promotion Codes to partners' customers.
- The X Agent Campaign is the Company's latest partnership platform which recruits freelancers to promote and distribute FLEXIROAM X.
- X Agents' sales contributed over 40% to total sales and user conversions of FLEXIROAM X.
- The Company launched its digital marketing campaign to reach out to over 10 million prospective subscribers and this includes social media video advertisement, digital remarketing, travel media advertising & sponsorships.
Research & Development
- The Company continued its commitment to research and development by increasing its spending in this endeavour by 293% in the current quarter compared to the previous quarter, an effort that led to the launch of FLEXIROAM X.
- Within a month after its launch, the Company recorded the following results for FLEXIROAM X:
-- Over 10% of registered users have converted to paying customers;
-- facilitated more than 30,000 GB of internet data;
-- 98% of subscribers opted for yearly renewal; and
-- Australia recorded the highest conversion rate from free to paid subscribers with 40% of the app users signed up for the yearly membership.
Cash Position
- The Company ended the June 2016 quarter with cash reserves of A$5.8 Million.
- The Company will continue to invest in marketing campaigns and research and development on FLEXIROAM X with a view to increasing revenues in a market with an expected high demand for roaming data.
To view the report, please visit:
http://abnnewswire.net/lnk/938B6323
About Flexiroam Ltd
FLEXIROAM Limited (ASX:FRX) is a leading telecommunications company offering universal voice and data services for mobile users globally. Its flagship data roaming product, FLEXIROAM X has coverage in over 100 countries with 4G speed in over 56 countries. FLEXIROAM is an asset light telecommunications company that does not own physical infrastructure yet is able to connect to around 580 network operators globally. FLEXIROAM aspires to be a household name in borderless mobile broadband service in Asia and beyond. Please visit https://www.flexiroam.com
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