Vonex hits record high with 25,000 registered active users

By Justin Ware. Published at Nov 13, 2018, in Technology

Telecommunications innovator, Vonex (ASX:VN8), has reached a record 25,000 registered Private Branche Exchange (PBX) users, as of October 31.

According to VN8, registered PBX users continue to grow at a rate of approximately 500 users per month, and are expected to accelerate as the company enters stage two of its marketing campaign.

This encouraging growth represents a 25% year on year gain in PBX users, up from 20,000 users this time last year:

Source: Vonex

VN8 Managing Director, Matthew Fahey, commented on the promising development: “Management is extremely pleased with the continued growth in registered users over the past year and is especially with the progress made across the business since our listing."

“The marketing rollout and Channel Partner recruitment drive, coupled with new product initiatives like Vonex Phone, will accelerate growth as evidenced by continual increase in registered PBX users,” Fahey said.

With national marketing in capital cities now underway, the focus continues on the recruitment of new Channel Partners across the country to support anticipated growth underpinned by the NBN rollout.

VN8 has already built a nation-wide footprint of Channel Partners that have been strongly supportive in meeting the telco service requirements of its growing base of SME customers.

Under the Channel Partner model, the company continues to operate with minimal customer loss (less than 1% churn).

This year, VN8 has already added an additional 27 partners, and remains on track for 100 new Channel Partners in FY2019.

The recent launch of Vonex Phone will enable the telco to target new users in addition to its 25,000 existing users, with the app enabling the continued growth of its user-base.

tags

NBN

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X