Key Performance Highlights
- Flexiroam Limited ("the Company") reports a 52% increase in total sales revenue over the December 2016 quarter, with corporate sales the key contributor, having increased by 185%. Sales generated from retail business increased by a more modest 27% for the quarter.
- Research and development costs were maintained at a level similar to the previous quarter.
- The cash outlay for product manufacturing and operating costs rose significantly in the March 2017 quarter due mainly to the payment of accrued network costs.
- Capital expenditure in the quarter rose on the back of a bulk acquisition of X-Microchips in anticipation of higher sales ahead.
- In January 2017 Flexiroam entered into a partnership agreement with Chan Brothers, one of Singapore's largest travel agencies and tour operators with over 50 years' experience in the travel industry. Under the agreement, Chan Brothers will purchase FLEXIROAM X and advertise Flexiroam's products and services on all of their marketing channels, including Facebook posts, newspapers and website banners.
- In February 2017 Flexiroam entered into a partnership agreement with Triip Pte Ltd to target Vietnamese outbound travellers. Triip is an impact travel company that operates a global sharing-economy platform with over 6,000 tours in 100 countries around the world and is very strong in its base market Vietnam.
- In March 2017 Flexiroam launched an updated version of the FLEXIROAM X app. The updated app boasts a completely revamped design and contains exciting new features that enhance the user experience.
- In March 2017 Flexiroam signed a partnership agreement with Grab, Southeast Asia's leading ride-hailing platform, as a partner in the GrabRewards Loyalty Program. GrabRewards is Southeast Asia's first regional loyalty program for ride-hailing passengers. The partnership sees Flexiroam featured in Grab's marketing channels such as their app, press release and blog, gaining exposure to over 33 million Grab customers.
- In March 2017 Flexiroam entered a partnership with Smart Malaysia Apps Sdn Bhd who developed the Smart-I Go Malaysia mobile app designed specifically for tourists visiting Malaysia. The partnership is tailored to meet the needs of tourists in Malaysia by enhancing their overall travel experience. Smart-I users are able to view and purchase FLEXIROAM X starter packs and get free data via the app.
- In March 2017 Flexiroam signed a partnership agreement with GO-JEK, a leading on-demand mobile platform in Indonesia, to collaborate in a customer loyalty program promotion where GO-JEK customers can exchange their points for Flexiroam vouchers to redeem data via the FLEXIROAM X app. GO-JEK runs promotional campaigns featuring Flexiroam across 5 channels of communication; Facebook, Twitter, Line, GO-JEK newsletters and Instagram. The partnership provides Flexiroam with a solid entry point to the substantial Indonesian market
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About Flexiroam Ltd
FLEXIROAM Limited (ASX:FRX) is a new breed telecommunications company that enables travellers to bypass roaming charges around the world. The Company unveiled its flagship data roaming product, FLEXIROAM X which allows users to earn up to 100GB data to be used in over 100 countries with plans which last up to 1 year.
FLEXIROAM is a telecommunication company that does not own physical infrastructure but connects its users to 580 network operations around the globe making its services available in over 100 countries and territories. The Company was listed on the Australian Securities Exchange (“ASX”) in June 2015 under the code FRX, and is today one of the fastest growing global virtual mobile operator in Asia Pacific.