
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.
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VoIP market getting tougher
Cornered!
VoIP market getting tougher | VoIP market getting tougher |
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| by Stuart Corner | |
| Monday, 03 September 2007 | |
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Page 2 of 3 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. Featured Whitepaper
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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. |
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