Vantage DX revenue grows as the Company focuses on product innovation, generating demand and developing partner channel sales, including new opportunities in the Mitel channel. Vantage DX achieved 18% year-over-year revenue growth and a 15% increase in monthly recurring revenue (MRR). Martello launched user experience management for Copilot for Microsoft 365 in June 2024, as part of a drive to help businesses safeguard their investment in costly premium Microsoft services such as Teams Rooms and Teams Phone. The Company is investing in H1 FY25 to increase market demand for Vantage DX and acquire, onboard and activate channel partners. Mitel channel is a stable source of recurring revenue with upside from Mitel's acquisition of Unify and growing interest in Vantage DX from Mitel and Mitel partners. Legacy products are sunsetting as planned. /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. 15, 2024 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV:MTLO), a provider of user experience management solutions purpose-built for Microsoft Teams and Mitel unified communications, today released financial results for the three months ended June 30, 2024. Martello software provides businesses with actionable insights on the performance and user experience of cloud services such as video conferencing and voice calls, with a focus on Microsoft 365, Microsoft Teams and Mitel unified communications. Terence Matthews, Chairman of Martello is pleased with the pace of Vantage DX product innovation and its potential to create opportunities in the Mitel ecosystem: "Businesses are investing significantly in premium Microsoft services such as Copilot, Teams Rooms and Teams Phone. It's absolutely critical that they provide an exceptional experience and high uptime for users," said Mr. Matthews. "Partners have an increasingly important role to play in providing these services to customers, and I'm pleased that many have turned to Martello, already a trusted partner, for their experience management solution." "Martello is rapidly executing on significant change and improvement initiatives to drive Vantage DX growth", said Jim Clark, Chief Executive Officer of Martello. "Together with the management team and board of directors, I am monitoring the impact of these improvements closely to ensure they drive value for customers and shareholders. We continue to look deeply at every step of the value chain to find opportunities for improvement. We are making targeted investments and repurposing resources in H1 FY25 to develop our channel business and to increase market demand, which we believe will have the most meaningful impact on Vantage DX revenue growth". Q1 FY25 Financial Highlights Financial Highlights June 30, June 30, (in 000's) 2024 2023 (Three months ended) Sales $ 3,797 4,004 Cost of Goods Sold 496 481