Story image

VMob delays planned ASX listing despite reported sales momentum

04 Aug 2015

VMob, the NZAX-listed mobile technology company, says it has delayed a planned listing on the ASX because of on-going commercial negotiations and so management can focus on current sales momentum.

The company, whose mobile marketing platform delivers personalised, location-based promotional offers to mobile phone users on behalf of major brands, will update the market when the board has confirmed the timing of the ASX listing, it said in a statement. It had previously said it hoped to have a dual-listing in place by the end of last year.

VMob said annualised committed monthly revenue (ACMR) rose to $4.5 million as at July 31, a 41 percent increase on the $3.2 million it reported for the March period. ACMR is a common measure of business growth in the software-as-a-service industry and represents contracted monthly recurring revenue recognised in the month of July and multiplied by 12.

The company said growth in ACMR continues what has already been a strong year including a number of key customer wins such as the addition of 7-Eleven in Australia, IKEA in Sweden, McDonald’s Korea, McDonald’s USA and a global agreement with McDonald’s Corporation.

VMob reported a 474 percent increase in annual revenue to $2.94 million for the year ended March 31, while its net loss widened to $4.39 million.

The NZAX-listed shares rose 2.9 percent to 36 cents. Snakk Trustee, owned by Michael John Sorenson, reduced its shareholding in the company last month, dropping from 12.34 percent to 4.81 percent. 

By Fiona Rotherham

Universal Robots aims for A/NZ growth with new hire
Peter Hern takes on the role of leading customer support, sales and partner development for Universal Robots in Australia and New Zealand.
Microsoft urges organisations to tackle data blindspots
Despite significant focus placed on CX transformation, over a third of Australian organisations claimed that more than one in five of their projects failed.
Raising the stakes: McAfee’s predictions for cybersecurity
Security teams and solutions will have to contend with synergistic threats, increasingly backed by artificial intelligence to avoid detection.
How big data can revolutionise NZ’s hospitals
Miya Precision is being used across 17 wards and the emergency department at Palmerston North Hospital.
Exclusive: Ping Identity on security risk mitigation
“Effective security controls are measured and defined by the direct mitigation of inherent and residual risk.”
CylancePROTECT now available on AWS Marketplace
Customers now have access to CylancePROTECT for AI-driven protection across all Windows, Mac, and Linux (including Amazon Linux) instances.
Time's up, tax dodgers: Multinational tech firms may soon pay their dues
Multinational tech and digital services firms may no longer have a free tax pass to operate in New Zealand. 
Gartner’s top 10 data and analytics trends for 2019
Data is the fuel for the modern world, and analytics the engine. Gartner has compiled the top 10 trends to watch this year.