Latest news with #Martello
Cision Canada
5 days ago
- Business
- Cision Canada
Martello Reports Financial Results for the First Quarter of the 2026 Fiscal Year
Continued focus on enabling managed service providers as new research reveals the potential of proactive monitoring to reduce their operational costs. As Martello continues to develop its managed service provider (MSP) channel, new research commissioned by Martello from EnableUC shows that MSPs could achieve up to a 50% reduction in labour required for incident management when using proactive monitoring and advanced diagnostics tools such as Vantage DX. In FY26 the Company is focused on enabling the success of MSPs by streamlining the onboarding process and delivering a seamless experience for partners and their customers. Martello's partnership with Mitel and its channel partner network continues to strengthen, with enhancements to Mitel Performance Analytics (MPA) and advancing go-to-market strategies for Vantage DX delivering industry-leading collaboration monitoring solutions to Mitel's partners and customers. The Company completed an amendment to its loan agreement with Wesley Clover International, extending the maturity date by two years and replacing the interest rate of US Prime plus 8.75% to a fixed rate of 12%. /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./ OTTAWA, ON, Aug. 14, 2025 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of user experience monitoring solutions for cloud communication and collaboration systems such as Microsoft Teams and Microsoft 365, today released financial results for the three months ended June 30, 2025. Martello's software proactively detects performance issues before they impact users of these systems. Terence Matthews, Chairman of Martello highlighted the number of initiatives the Company is pursuing to bring Vantage DX to managed service providers: "MSPs face pressure to do more with existing resources and Martello continues to develop Vantage DX to simplify the management of even the most complex hybrid collaboration environments," said Mr. Matthews. "As the Company works to increase momentum in the partner channel, I'm pleased to have amended the Wesley Clover loan agreement to provide Martello with greater flexibility and predictability." "I'm pleased with our momentum, particularly in the channel, where partners like LDI and Tollring are working closely with Martello to launch Vantage DX as part of their offerings. At the same time, our maturing go to market efforts with partners like Orange Business and Yorktel are helping to solidify Vantage DX's position within their growing pipeline of sales opportunities", said Jim Clark, Chief Executive Officer of Martello. "Having built the foundation to successfully onboard new partners in FY25, I look forward to the continued activation of these partners as we drive more revenue from the channel." Q1 FY26 Financial Highlights Financial Highlights June 30, June 30, (in 000's) 2025 2024 (Three months ended) Sales $ 3,088 3,797 Cost of Goods Sold 461 496 Gross Margin 2,627 3,301 Gross Margin % 85.1 % 86.9 % Operating Expenses 4,529 4,047 Loss from operations (1,902) (746) Other income/(expense) (230) (407) Loss before income tax (2,132) (1,154) Income tax recovery - 115 Net loss (2,132) (1,038) Total Comprehensive loss $ (1,932) (1,093) EBITDA (1) $ (1,155) (268) Adjusted EBITDA (1) $ (1,194) (791) Revenue of $3.09M was 19% lower than the same quarter of the prior year, primarily due to lower renewal rates on sunsetting legacy product offerings. Vantage DX monthly recurring revenue decreased by 9% in Q1 FY26 compared to Q1 FY25. The decrease was primarily due to customer churn within our direct sales channel, partially offset by the acquisition of new customers and ongoing efforts to migrate legacy product customers to the Vantage DX platform. Martello's strategy to develop its MSP channel aims to strengthen monthly recurring revenue stability and scalability with greater sales channel diversity. Sunsetting legacy product revenue declined by 29% or $0.44M in Q1 FY26 compared to Q1 FY25. The ongoing decline of legacy product revenue is proceeding as expected. Revenue from the Mitel business segment decreased by 12% in Q1 FY26 compared to the same period in the prior year. This decrease is attributable to a continued shift in the revenue mix from various MPA offerings. The Mitel business represents a growth opportunity as it continues to be a large source of revenue and gross margin, representing 49% of total revenues in Q1 FY26 (compared to 45% in Q1 FY25). Martello works closely with Mitel to ensure that MPA remains well-positioned to support both emerging and established market segments, with an emphasis on high-growth opportunities. 99% of total revenues were recurring in Q1 FY26 compared to 98% in Q1 FY25. Gross margin was 85% in Q1 FY26 compared to 87% in Q1 FY25. The decrease in gross margin reflects a proportionally larger decline in revenue relative to the reduction in cost of sales. This was primarily due to higher hosting, installation, and delivery costs incurred in Q1 FY26 compared to the same period in the prior year. Monthly recurring revenue ("MRR") decreased by 18% to $1.02M in Q1 FY26 compared to $1.24M in the prior year. The decrease is primarily attributable to expected declines in sunsetting legacy product renewal revenue and changes in the mix of users subscribed to certain Mitel offerings. Operating expenses increased by 12% to $4.52M in Q1 FY26 compared to $4M in Q1 FY25. The increase was primarily driven by higher severance and salary and benefit costs and an increase in the value of Deferred Share Units (DSUs). Loss from operations was $1.90M in Q1 FY26 compared to $0.75M in Q1 FY25. The increase in loss from operations is attributable to decreased revenue and an increase in operating expenses as described above. Adjusted EBITDA (a non-IFRS measure) was a loss of $1.19M in Q1 FY26 compared to a loss of $0.79M in Q1 FY25, attributable to the items described above. The Company's cash and short-term investments balance was $4.50M as of June 30, 2025 (compared to $6.69M at March 31, 2025). The financial statements, notes and Management Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ at and on Martello's website at The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars. MRR is a non-IFRS measure, representing average monthly recurring revenues earned in a fiscal quarter. 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. About Martello Technologies Group Martello (TSXV: MTLO) is a technology company that provides experience monitoring solutions for enterprise collaboration platforms such as Microsoft Teams and Mitel unified communications. The Company's Vantage DX solution enables IT teams and managed service providers (MSPs) to deliver a frictionless user experience. With Vantage DX, they can move from reactive to proactive support by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes. This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of their collaboration platforms. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, the United States and the Asia Pacific region. Learn more at Neither the TSXV nor its Regulation Services Provider (as 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 Canadian securities legislation. 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 and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including the aim to drive more revenue from the channel through the continued activation of partners, and the aim to strengthen monthly recurring revenue stability and scalability with greater sales channel diversity. Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is 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, such statements 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 of the 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 and the uncertainty of additional financing. 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. and other risks disclosed in the Company's filings with Canadian Securities Regulators, which are available on the Company's profile on SEDAR+ at Any forward-looking information provided by the Company in this news release is based only on information currently available 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. SOURCE Martello Technologies Group Inc.
Malaysian Reserve
7 days ago
- Health
- Malaysian Reserve
EasyPA Unleashes Physician-Built AI to Solve $500B Healthcare Bottleneck Ahead of 2026 CMS Deadline
Founded by a team of physicians and AI experts, EasyPA launched the nation's first fully operational prior authorization (PA) platform designed to meet CMS standards two years ahead of the regulatory deadline. The platform directly addresses rising concerns over patient harm, physician burnout, and administrative waste caused by outdated PA systems — delivering real-time, AI-powered approvals and built-in compliance. TAMPA, Fla., Aug. 12, 2025 /PRNewswire/ — Anyone who has experienced delays in care due to the burdensome prior authorization (PA) process from insurers will find relief in EasyPA. Founded by a team of experienced physicians and technologists, this innovative startup is tackling the inefficiencies of healthcare data exchange head-on. EasyPA has launched a fully developed, market-ready solution that streamlines the PA process—well ahead of the deadlines set by Center for Medicare and Medicaid Services' Interoperability and Prior Authorization Rule (CMS0057F), which aims to modernize and reform the U.S. healthcare system and rein in bloat that cost providers an estimated $528 million in 2019. (1) EasyPA was co-founded by three healthcare powerhouses: Dr. Paola Ballester, who is CEO and Medical Director of Utilization Management at a leading children's hospital recognized for evidence-based pediatric care and academic excellence; Alex Vega, a CTO and senior AI engineer with deep expertise in electronic health record integrations and HIPAA-compliant infrastructure; and Dr. Ralph Martello, CPO/COO, a board-certified pediatric hospitalist and expert in clinical workflow automation. Together, they designed an AI-powered prior authorization platform designed by doctors — for doctors. 'The PA process is not just an annoying inefficiency—it's life-threatening,' said Dr. Martello. 'We're watching patients suffer while providers chase outdated faxes and paperwork. We built EasyPA so they don't have to wait another two years for relief.' A Life-Threatening Problem According to the American Medical Association and Medical Society of the State of New York: 94% of physicians report care delays due to PAs; 78% of patients abandon treatment altogether because of those delays; 89% of physicians report burnout from spending at least 12 hours a week managing the red tape of PAs. In some cases, the delay isn't just costly, it's deadly. Denials and holdups have resulted in patient hospitalization, permanent harm, and even death. (2) 'The PA process is not just an annoying inefficiency—it's life-threatening,' said Dr. Martello. 'We're watching patients suffer while providers chase outdated faxes and paperwork. We built EasyPA so they don't have to wait another two years for relief.' Regulatory Push Meets Real-World Action Finalized in January 2024, CMS0057F requires Medicare Advantage, Medicaid, and Affordable Care Act (ACA) members to implement Fast Healthcare Interoperability Resources (FHIR) APIs by March 2026. These interfaces enable different healthcare systems to exchange data using a standardized, web-based approach, shorten decision timelines, and publicly report PA metrics. (3) Yet, many insurers are just beginning to react. In July, for instance, Humana announced plans to eliminate one-third of its PA requirements in response to public pressure. (4) Industry-wide, progress remains slow. 'We have what CMS is calling for, and we have it now,' said Dr. Ballester. 'We've seen policy shifts and insurer promises, but our system can help insurers actually fulfill their promises.' With their inside perspective, the physicians developed technology for real-world use aimed at truly streamlining the approval processes. Their innovation creates efficiencies, breaks down barriers that delay care, and leaves more time for their real priority: Helping the patients. EasyPA is the Antidote to the Delay-and-Denial Cycle Unlike some insurer-built AI tools now under fire for auto-denying care, EasyPA technology is designed to support — not override — physician judgment with a cloud-based platform that includes: AI-generated PA forms aligned to payer documentation policies. Real-time clinical validation and policy matching. One-click appeal creation based on payer-specific criteria. HIPAA-secure, FHIR-ready, plug-and-play design with no IT dependency. 'We're not here to automate denials,' CTO Alex Vega said. 'We're here to automate transparency, speed, and fairness.' Administrative bloat from processing PAs costs the U.S. healthcare system billions each year. Doctors, practitioners, and medical practice offices are forced to hire staff just to chase approvals, creating costly inefficiencies that delay care. (5) EasyPA co-founders believe that delays shouldn't be the default. 'This platform gives time back to providers and puts the patient back in focus, where they should be,' Dr. Ballester said. About EasyPA EasyPA was founded by three visionaries — a pediatric hospitalist, a utilization management director, and an AI engineer — who were tired of watching patients suffer because of bureaucratic red tape of an outdated, manual PA process. So, they built the fix. EasyPA is the first AI-powered platform designed by physicians to eliminate prior authorization bottlenecks — automating approvals, accelerating appeals, and cutting time-to-treatment by more than ten times. HIPAA-secure and CMS compliant out of the box, EasyPA is built on modern infrastructure, ready for FHIR, and seamlessly integrates into provider workflows — no IT department required. EasyPA puts control back in the hands of providers and brings compassion and clarity to the most broken part of healthcare. Fix the system. Keep the care. That's EasyPA. Learn more at Sources: Daly, Rich. 'PriorAuthorization Cost and Time Burdens Increase for Providers, Report Finds.' Healthcare Financial Management Association, 22 Jan. 2020, HFMA, planpaymentandreimbursement/priorauthorizationcostandtimeburdensincreaseforproviders/. American Medical Association. 2023 AMA Prior Authorization (PA) Physician Survey. American Medical Association, Dec. 2023. Centers for Medicare & Medicaid Services. CMS Interoperability and Prior Authorization Final Rule (CMS0057F). 17 Jan. 2024. Rechtin, Jim. 'Humana to Reduce About OneThird of Prior Authorization Requirements.' Reuters, 22 July 2025. Chris Mazzolini, Medical Economics, 2025, 24 Apr. 'Prior Authorization Reform: How It Evolved, Why It Burdens Physicians and Patients, and the Promise of AI.' Media Inquiries: Karla Jo Helms JOTO PR™ 727-777-4629
Cision Canada
23-07-2025
- Business
- Cision Canada
Martello and Wesley Clover International Amend Loan Agreement
Amendment extends the loan's maturity date to 2028 at a fixed interest rate of 12%. /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./ OTTAWA, ON, July 23, 2025 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of experience management solutions for enterprise collaboration, announced today an amendment to the amended and restated loan agreement with Wesley Clover International signed on August 28, 2023 (the "Wesley Clover Loan"). Wesley Clover International is the investment firm controlled by Martello Chairman Terence Matthews. The amendment extends the maturity date of the loan by two years to August 28, 2028 and adjusts the interest rate from US Prime plus 8.75% per annum to a fixed rate of 12% per annum. Interest accrues during the term of the loan and is to be paid at loan maturity. The amendment described above constitutes a "related party transaction" within the meaning of Multilateral Instrument 61–101 Protection of Minority Security Holders in Special Transactions ("MI 61–101"). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61–101 contained in sections 5.5(b) and 5.7(1)(f) of MI 61–101 in respect of the amendment described above. About Martello Technologies Group Martello (TSXV: MTLO) is a technology company that provides experience management solutions for enterprise collaboration tools such as Microsoft Teams and Mitel unified communications. The Company's Vantage DX solution enables IT teams and managed service providers (MSPs) to deliver a frictionless Microsoft Teams user experience. With Vantage DX, they can move from reactive to proactive support by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes. This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, the United States and the Asia Pacific region. Learn more at 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. Neither the TSXV nor its Regulation Services Provider (as 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 Canadian securities legislation. 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 and includes, but is not limited to, information, statements and expectations regarding: the expected use of proceeds of the Private Placement; and other activities, events or developments that the Company expects or anticipates will or may occur in the future. Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is 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, such statements 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 of the 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 and the uncertainty of additional financing. 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. and other risks disclosed in the Company's filings with Canadian Securities Regulators, available on the Company's profile on SEDAR+ at Any forward-looking information provided by the Company in this news release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Company undertakes 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. SOURCE Martello Technologies Group Inc.
Cision Canada
11-06-2025
- Business
- Cision Canada
Martello Reports Financial Results for the Fourth Quarter and 2025 Fiscal Year
With a continued focus on managed service providers (MSPs), Martello introduced new innovations designed to give partners a competitive edge. As a growing number of Microsoft Teams customers now buy Premium, Phone or Teams Rooms, Martello was first to market with a proactive monitoring solution for Microsoft Teams Phone, allowing MSPs to differentiate themselves with unique service delivery capabilities targeted towards Teams Phone. For businesses that use both Microsoft Teams and Zoom, the Company launched unified experience management for hybrid environments, making IT teams and MSPs more efficient and effective. Martello continues to invest in its Mitel business, working closely with Mitel and its channel partners to offer experience management solutions for Mitel, Microsoft Teams and Zoom environments and extend its capabilities into Unify. Chairman Terry Matthews demonstrated continued support and confidence in Martello by investing CAD $2M in a private placement completed in Q4 FY25. OTTAWA, ON, June 11, 2025 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of user experience management solutions for cloud communication and collaboration systems such as Microsoft Teams and Microsoft 365, today released financial results for the three and twelve months ended March 31, 2025. Martello's software proactively detects performance issues before they impact users of these systems. Terence Matthews, Chairman of Martello noted growing interest in the Company's technology by partners: "As businesses expand their collaboration toolsets to drive productivity, MSPs are increasingly expected to manage service delivery in complex hybrid collaboration environments leveraging premium tools such as Microsoft Teams Phone," said Mr. Matthews. "I'm pleased that Martello continues to lead the industry with innovations that give these MSPs a competitive edge in this dynamic and rapidly evolving market." "In FY25 in addition to considerable innovation, Martello laid the foundation to efficiently onboard MSPs, investing in automation of partner enablement and training", said Jim Clark, Chief Executive Officer of Martello. "Working with MSPs including Orange Business Services, Yorktel and many Mitel partners, we continue to execute joint go-to-market strategies designed to drive revenue growth with these partners." Q4 and FY25 Financial Highlights Financial Highlights March 31, March 31, March 31, March 31, (in 000's) 2025 2024 2025 2024 (Three months ended) (Twelve months ended) Sales $ 3,376 3,808 14,531 15,773 Cost of Goods Sold 468 482 2,000 1,943 Gross Margin 2,908 3,326 12,530 13,830 Gross Margin % 86.1 % 87.3 % 86.2 % 87.7 % Operating Expenses 4,249 4,567 16,669 17,425 Loss from operations (1,341) (1,242) (4,138) (3,595) Other income/(expense) (361) (459) (1,686) (2,163) Loss before income tax (1,701) (1,700) (5,824) (5,759) Income tax recovery 94 - 128 15 Net loss (1,607) (1,700) (5,696) (5,744) Total Comprehensive loss $ (1,580) (1,770) (5,877) (5,680) EBITDA (1) $ (734) (886) (2,193) (1,799) Adjusted EBITDA (1) $ (820) (791) (2,022) (1,487) (1) Non-IFRS measure. See "Non-IFRS Financial Measures". Revenue was $14.5M in FY25 and $3.38M in Q4 FY25, representing an 8% and 11% decrease, respectively, compared to the prior period. The decline in revenue was due to expected declines in legacy products and related support and maintenance revenue. Vantage DX contributed $2.55M in revenue in FY25, a 6% increase compared to FY24. Vantage DX monthly recurring revenue ("MRR") decreased by 6% in Q4 FY25 compared to Q4 FY24. Sunsetting legacy product revenue declined by 25% or $0.38M in Q4 FY25 compared to Q4 FY24, and 15% or $0.97M in FY25 compared to FY24. The ongoing decline of legacy product revenue is proceeding as expected. Revenue from the Mitel business segment decreased slightly by 3% in Q4 FY25 compared to the same period in the prior year and decreased by 6% in FY25 compared to FY24. This decrease is attributable to a revenue mix change from various Mitel Performance Analytics offerings. The Mitel business represents a growth opportunity as it continues to be a large source of revenue and gross margin, representing 45% of total revenues in FY25 (compared to 44% in FY24) and 97% gross margin as a percentage of segment revenue. 98% of total revenues were recurring in FY25 and the comparative period, with 97% of revenues recurring in Q4 FY25 compared to 98% in Q4 FY24. Gross margin was 86% in Q4 FY25 and in FY25, compared to 88% in Q4 FY24 and FY24. The decrease is attributable to lower revenue and an increase in installation, delivery and hosting costs. Management continues to execute a strategy to reduce hosting costs. Monthly recurring revenue ("MRR") decreased by 13% to $1.09M in Q4 FY25 compared to $1.25M in the prior year. The decrease is primarily attributable to expected declines in sunsetting legacy product renewal revenue and changes in the mix of users subscribed to certain Mitel offerings. Operating expenses decreased by 7% to $4.25M in Q4 FY25 and by 4% to $16.67M in FY25, compared to $4.57M in Q4 FY24, and $17.43M in FY24. The decrease is attributed to higher government grants and lower headcount costs, partially offset by an increase in marketing spend, professional fees and software subscriptions. The Company continues to invest in Vantage DX revenue growth as management monitors value for spend in all functions of the value chain. Loss from operations was $1.34M in Q4 FY25 and $4.14M in FY25, compared to $1.24M and $3.60M, respectively. The increase in loss from operations is attributable to the decrease in revenue as described above, partially offset by lower operating expenses. Adjusted EBITDA (a non-IFRS measure) was a loss of $0.82M in Q4 FY25 and $2.02M in FY25 compared to $0.79M in Q4 FY24 and $1.49M in FY24, attributable to the items described above. The Company's cash and short-term investments balance was $6.69M as of March 31, 2025 (compared to $7.72M at March 31, 2024). The financial statements, notes and Management Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ at and on Martello's website at The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars. MRR is a non-IFRS measure, representing average monthly recurring revenues earned in a fiscal quarter. 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. About Martello Technologies Group Martello (TSXV: MTLO) is a technology company that provides experience management solutions for enterprise collaboration tools such as Microsoft Teams and Mitel unified communications. The Company's Vantage DX solution enables IT teams and managed service providers (MSPs) to deliver a frictionless Microsoft Teams user experience. With Vantage DX, they can move from reactive to proactive support by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes. This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, the United States and the Asia Pacific region. Learn more at Neither the TSXV nor its Regulation Services Provider (as 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 Canadian securities legislation. 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 and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including management's aim to reduce hosting costs, the aim to expand Martello's capabilities into Unify, and the aim to drive revenue growth with partners. Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is 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, such statements 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 of the 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 and the uncertainty of additional financing. 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, which are available on the Company's profile on SEDAR+ at Any forward-looking information provided by the Company in this news release is based only on information currently available 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. SOURCE Martello Technologies Group Inc.
Yahoo
11-06-2025
- Business
- Yahoo
Martello Reports Financial Results for the Fourth Quarter and 2025 Fiscal Year
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./ With a continued focus on managed service providers (MSPs), Martello introduced new innovations designed to give partners a competitive edge. As a growing number of Microsoft Teams customers now buy Premium, Phone or Teams Rooms, Martello was first to market with a proactive monitoring solution for Microsoft Teams Phone, allowing MSPs to differentiate themselves with unique service delivery capabilities targeted towards Teams Phone. For businesses that use both Microsoft Teams and Zoom, the Company launched unified experience management for hybrid environments, making IT teams and MSPs more efficient and effective. Martello continues to invest in its Mitel business, working closely with Mitel and its channel partners to offer experience management solutions for Mitel, Microsoft Teams and Zoom environments and extend its capabilities into Unify. Chairman Terry Matthews demonstrated continued support and confidence in Martello by investing CAD $2M in a private placement completed in Q4 FY25. OTTAWA, ON, June 11, 2025 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of user experience management solutions for cloud communication and collaboration systems such as Microsoft Teams and Microsoft 365, today released financial results for the three and twelve months ended March 31, 2025. Martello's software proactively detects performance issues before they impact users of these systems. Terence Matthews, Chairman of Martello noted growing interest in the Company's technology by partners: "As businesses expand their collaboration toolsets to drive productivity, MSPs are increasingly expected to manage service delivery in complex hybrid collaboration environments leveraging premium tools such as Microsoft Teams Phone," said Mr. Matthews. "I'm pleased that Martello continues to lead the industry with innovations that give these MSPs a competitive edge in this dynamic and rapidly evolving market." "In FY25 in addition to considerable innovation, Martello laid the foundation to efficiently onboard MSPs, investing in automation of partner enablement and training", said Jim Clark, Chief Executive Officer of Martello. "Working with MSPs including Orange Business Services, Yorktel and many Mitel partners, we continue to execute joint go-to-market strategies designed to drive revenue growth with these partners." Q4 and FY25 Financial Highlights Financial HighlightsMarch 31,March 31,March 31,March 31, (in 000's)2025202420252024(Three months ended)(Twelve months ended) Sales$ 3,3763,80814,53115,773 Cost of Goods Sold4684822,0001,943 Gross Margin2,9083,32612,53013,830 Gross Margin % 86.1 %87.3 %86.2 %87.7 % Operating Expenses4,2494,56716,66917,425 Loss from operations(1,341)(1,242)(4,138)(3,595) Other income/(expense)(361)(459)(1,686)(2,163) Loss before income tax(1,701)(1,700)(5,824)(5,759) Income tax recovery94-12815 Net loss (1,607)(1,700)(5,696)(5,744) Total Comprehensive loss $ (1,580)(1,770)(5,877)(5,680) EBITDA (1)$ (734)(886)(2,193)(1,799) Adjusted EBITDA (1) $ (820)(791)(2,022)(1,487) (1) Non-IFRS measure. See "Non-IFRS Financial Measures". Revenue was $14.5M in FY25 and $3.38M in Q4 FY25, representing an 8% and 11% decrease, respectively, compared to the prior period. The decline in revenue was due to expected declines in legacy products and related support and maintenance revenue. Vantage DX contributed $2.55M in revenue in FY25, a 6% increase compared to FY24. Vantage DX monthly recurring revenue ("MRR") decreased by 6% in Q4 FY25 compared to Q4 FY24. Sunsetting legacy product revenue declined by 25% or $0.38M in Q4 FY25 compared to Q4 FY24, and 15% or $0.97M in FY25 compared to FY24. The ongoing decline of legacy product revenue is proceeding as expected. Revenue from the Mitel business segment decreased slightly by 3% in Q4 FY25 compared to the same period in the prior year and decreased by 6% in FY25 compared to FY24. This decrease is attributable to a revenue mix change from various Mitel Performance Analytics offerings. The Mitel business represents a growth opportunity as it continues to be a large source of revenue and gross margin, representing 45% of total revenues in FY25 (compared to 44% in FY24) and 97% gross margin as a percentage of segment revenue. 98% of total revenues were recurring in FY25 and the comparative period, with 97% of revenues recurring in Q4 FY25 compared to 98% in Q4 FY24. Gross margin was 86% in Q4 FY25 and in FY25, compared to 88% in Q4 FY24 and FY24. The decrease is attributable to lower revenue and an increase in installation, delivery and hosting costs. Management continues to execute a strategy to reduce hosting costs. Monthly recurring revenue ("MRR") decreased by 13% to $1.09M in Q4 FY25 compared to $1.25M in the prior year. The decrease is primarily attributable to expected declines in sunsetting legacy product renewal revenue and changes in the mix of users subscribed to certain Mitel offerings. Operating expenses decreased by 7% to $4.25M in Q4 FY25 and by 4% to $16.67M in FY25, compared to $4.57M in Q4 FY24, and $17.43M in FY24. The decrease is attributed to higher government grants and lower headcount costs, partially offset by an increase in marketing spend, professional fees and software subscriptions. The Company continues to invest in Vantage DX revenue growth as management monitors value for spend in all functions of the value chain. Loss from operations was $1.34M in Q4 FY25 and $4.14M in FY25, compared to $1.24M and $3.60M, respectively. The increase in loss from operations is attributable to the decrease in revenue as described above, partially offset by lower operating expenses. Adjusted EBITDA (a non-IFRS measure) was a loss of $0.82M in Q4 FY25 and $2.02M in FY25 compared to $0.79M in Q4 FY24 and $1.49M in FY24, attributable to the items described above. The Company's cash and short-term investments balance was $6.69M as of March 31, 2025 (compared to $7.72M at March 31, 2024). The financial statements, notes and Management Discussion and Analysis ("MD&A") are available under the Company's profile on SEDAR+ at and on Martello's website at The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars. MRR is a non-IFRS measure, representing average monthly recurring revenues earned in a fiscal quarter. 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. About Martello Technologies Group Martello (TSXV: MTLO) is a technology company that provides experience management solutions for enterprise collaboration tools such as Microsoft Teams and Mitel unified communications. The Company's Vantage DX solution enables IT teams and managed service providers (MSPs) to deliver a frictionless Microsoft Teams user experience. With Vantage DX, they can move from reactive to proactive support by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes. This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, the United States and the Asia Pacific region. Learn more at Neither the TSXV nor its Regulation Services Provider (as 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 Canadian securities legislation. 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 and " includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including management's aim to reduce hosting costs, the aim to expand Martello's capabilities into Unify, and the aim to drive revenue growth with partners. Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is 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, such statements 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 of the 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 and the uncertainty of additional financing. 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, which are available on the Company's profile on SEDAR+ at Any forward-looking information provided by the Company in this news release is based only on information currently available 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. 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