OtherLevels execution in H1 FY17
Growth in focus sectors
- 101% to prior period but 111% in constant currency adjusted for UKP depreciation
- 4 new customers in H1, with 2 more since January 1, 2017
- Strong revenue growth from large customers, eg. GBP107,000 additional order in Q2 to an earlier GBP90,000 order in Jan 2016
Progress to Positive Operating Cash Flow
- Restructured US operations, with partner led sales model
- Quarterly cash burn < A$1m in Q2 FY17
Investment in platform
- Launch of Web Push and Action Engine with resulting sales
- Recognition in Forrester report as an emerging competitor alongside heavyweights Oracle, Salesforce, Adobe and IBM
Our strategy to provide the leading enterprise marketing automation platform remains unchanged. We are focused on the continued shift in enterprise marketing spend to digital and the growth of mobile devices.
Highlights - H1 FY17
- 101% H1 revenue of comparable period in FY16
o 11% growth over the corresponding period in constant currency, when adjusted for UKP depreciation
o 4 new customers signed in H1, and 2 already in H2
o Higher revenues from large existing customers - seeing strong growth from large customers
- High level of cash and cost management focus in H1 FY17
o Strong cash receipts from Q2 of A$1.2m, and $1.6m for H1 period
o Significant reduction in net cash burn to less than $1m in Q2 FY17
- Restructured US operations, with resulting cost savings and secured revenue base for FY17
- Managed the impact of decreased US games customer revenue, as rotation from sector concluded
- Featured (again) in November 2016 Forrester Report "Vendor Landscape: Mobile Engagement Automation Solutions" alongside industry heavyweights such as Oracle (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE) and IBM (NYSE:IBM)
- Strong and growing network of strategic partners to be leveraged to expand market share
- Focused on goal of positive operating cash flow in second half of calendar 2017
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About Otherlevels Holdings Ltd
OtherLevels Holdings Ltd (ASX:OLV) is a leading second-generation digital marketing platform with offices in San Francisco, London, Brisbane and Melbourne. OtherLevels is at the forefront of the enterprise marketing transformation being driven by the massive shift to mobile.
The OtherLevels digital marketing platform enables marketers to engage and retain their audience across desktop, mobile web and apps.
Otherlevels Holdings Ltd
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