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Research

Disclaimer: All information on this section is of a general nature.
Before making any investment decision, you should consult your adviser.

Vonex Limited (ASX:VN8); Approaching Inflection Point

 

Vonex’s registered private branch exchange (PBX)users have increased from 24,000 at the end of July 2018, to 25,000 at the endof October 2018, and to a record 26,000 as at 25 January 2019 (VN8 announcement,29 January 2019). Growth in cloud-based PBX registrations is a key indicator ofthe group’s business development progress. Based on the new user growthprofile, we calculate that registrations have increased by, on average, 333 usersper month.

With the Dec/Jan holiday season now over, we forecastthat the growth rate in VN8’s registered PBX user base will acceleratesignificantly. We forecast new users increasing by 500 in February, 1,000 inMarch, 1,500 in April, 1,750 in May, and 2,250 in June. Factors driving thiscustomer and user growth include an increased marketing drive (in December 2018,VN8 commenced online marketing to all States and Territories), improvedengagement with new and existing channel partners (VN8 has added 38 new channelpartners to date and is targeting to reach 100 new channel partners by 30 June2019), and VN8’s marketing and partnering agreement with technology partner CounterPathgaining traction.
 
8/02/2019 12:00:00 PM

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