Datasquirt reports strong revenue growth

Bottom-line loss for year reported as $3.85 million

ASX-listed Kiwi contact centre software developer Datasquirt has announced strong revenue growth from its CONTACT software in its first full- year report since listing.

For the year ending 31 March, revenues from Datasquirt’s core business of CONTACT licence and hosting fees grew 109% to $1.48 million. The company posted a net loss for the year of $3.85 million.

Cash and bank balances stand at $5,133,000.

Datasquirt chairman Lindsay Phillips said the results were broadly according to plan and consistent with expectations expressed in the company’s ASX listing prospectus.

“Our business plan is to invest for growth,” Phillips said. “Datasquirt’s CONTACT software is highly successful in the New Zealand market. Funds raised through the IPO on the ASX are being invested to rapidly scale the company to replicate this success in overseas markets." Sales offices were established in North America, UK, Australia and Germany as product development continued. During the year, Datasquirt signed the first nine CONTACT customers in international markets and says it has new customers under contract or in pilot in North America, UK and Australia, and a strong sales pipeline.

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