Vonex ups cloud telephony tech user base to 26,000

ASX listed upstart telco Vonex continues to steadily build its cloud based PABX telephony business with the company reaching a record of 26,000 registered users as at 25 January 2019.

This is up 22% from the 21,000 users it had a year ago and is a key indicator of the company’s business development progress as it expands its reach to small and medium enterprises.

Vonex said the growth is due to the continued rollout of the NBN in metropolitan areas, which resulted in customers that were on the old Telstra copper-cabled network service having to either re-sign with their existing provider or perhaps move to a new supplier.

Other factors include the start of online marketing in late 2018 to all Australian states and improved engagement with the company’s new and existing channel partners.

Management said that registered users continue to grow at a rate of about 500 new users per month.

Vonex’s continued efforts to grow its PABX registered user base and other products such as traditional mobile, internet and business phone systems are bearing fruit.

The company said in December last year that customer billings in November 2018 were its strongest to date at $741,000, a year‐on‐year growth of more than 13%.

Notably, this revenue number is overwhelmingly recurring in nature and will drive its operational cashflows in the coming quarters.

The continued rise in PABX registered user numbers is a good start for Vonex in 2019 and could be the base for further revenue growth.

Vonex (VN8)

Share Price

Closing price for the last 90 trading days
Powered by Morningstar ®

Top 10 Shareholders

Substantial shareholders as published in the annual report.
Powered by Morningstar ®