Cornered!
Cornered! is a blog devoted, most of the time anyway, to telecommunications: local and global issues, technology, people and trends from the perspective of someone who's been reporting, analysing and commenting on the industry since the dark ages (BC - before competition). Sometimes serious, sometimes flippant, sometimes frivolous. Controversial, analytical, informative, amusing, but never boring; a vehicle for examinations of important issues and observations on my encounters and experiences in an industry where polarised views and hyperbole are the norm.
Follow the Australian Telecommunications scene NEWSLETTER- FREE TRIAL

Blog

Technology news and Jobs arrow Cornered! arrow VoIP market getting tougher
VoIP market getting tougher E-mail
by Stuart Corner   
Monday, 03 September 2007


During the year the company increased revenues 103 percent to $17.4 million and subscriber numbers 71 percent to 77,000. However it also managed to increase its EBITDA loss from $10 million the previous year to $12.5 million. Net loss for the year was $13.8 million compared to $7.3 million last year and the company managed to burn through a sizeable portion of the $26 million cash injunction from Seven.

Cash at the start of the year was $3.0 million, net proceeds from Seven's equity purchase $25.8 million, a total of $28.8 million. At 30 June 2007 just $12. 3 million of this remained.

My Net Fone ended the year with a gross revenue of $3.3 million, doubling last year's revenue of $1.6m. Its customer numbers reached 35,000 compared with 12,500 at the end of the 06 financial year.

The company made a net loss of $3,250,320 which included a $700,000 share base expense arising from the valuation of options by an independent professional valuer. It raised $900,000 during the year from a share issue to finish they year with $1.1 million in the bank compared to $1.9 million a year ago.

One interesting comparison between the two companies is that My Net Fone managed to add 22,500 net new subscribers with a marketing spend of just $455,000. For engin to add around 30,000 cost  $5.7 million in marketing expenses.

Also, I'm not sure of the exact number of new Engin subscribers because at a briefing in late July 2006 (a level of detail not provided this year) the company was claiming 50,000 total subscribers and 43,000 paying a monthly fee (as opposed to making paid calls from a free Engin softphone). To get the June 07 figure of 77,000 as a 71 percent increase it would have had to have 45,000 at 30 June 2006.

 
< Next story in category   Previous story in the category >
iTWire user statistics Visitors last 30 days
694,279
Subscribers 15,210
#1 independent technology news advertise here
  •   *  
  • Search
  • AdvSeach
  • Login
  • Events
  • FreeStuff

- Advertisement -

Featured Whitepapers

Cornered! - Telecoms blog
Cornered! is a blog on all things tele-communication from the perspective of one who has observed, analysed commented and reported on the industry since the dark ages (BC - before competition).
Follow iTWire on Twitter

About iTWire

iTWire is all about technology news, information, jobs and community for the IT and telecommunications industry professional. Subscribe to our free ICT daily newsletter