Norwood Systems is also boasting of optimisation of customer acquisition costs, with ‘cumulative downloads up 16%, now exceeding 3.1 million, continuing to demonstrate outstanding fortnightly growth in less than 6 months since launch, balanced across both iOS and Android platforms.’
Other good news includes ‘cumulative revenue up 19% (+USD$50,000), now above USD$320,000’, with Norwood claiming ‘accelerating exponential revenue growth reflects tremendous progress in relatively short time frame’ alongside a ‘new record annualised revenue run-rate at AUD$ 1.9 million.’
Talking up that it is part of the ‘sharing economy’ revolution, Norwood says ’the start of 2016 saw continued, breakthrough growth for World Phone, with revenue generation accelerating and trending up significantly ahead of downloads,’ and that the company is ‘working actively on driving revenue growth, whilst lowering acquisition costs further on new downloads.’
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Norwood Systems’ CEO and Founder, Paul Ostergaard, said: “I could not be happier with World Phone’s performance since its successful launch mid last year. Coming up to six months in the market from a ‘standing start’ launch at the end of July last year, World Phone has achieved nearly A$0.5 million already in cumulative revenue, more than 3 million outstanding downloads, while attaining App Store rankings and ratings that are the envy of the industry!
“It is great to see that World Phone has maintained this momentum into the New Year, continuing to turn in highly encouraging and strengthening revenue numbers. Our efforts have been concentrated on driving monetisation, whilst managing down the acquisition costs for new customers, including the costs of initial free calling credit.
“The team at Norwood is laser-focused on increasing revenue and ultimately driving positive cash flow generation from our user base and products in the most efficient way possible.
“We expect to make significant further near-term strides on the revenue front, as we roll out World Credit, new payment options and Global Dynamic Pricing in the coming quarter. These initiatives will allow us to maximise World Phone’s monetisation potential well beyond our existing geographic and travel segments.
“This will see World Phone’s focus moving beyond just travel roaming, or servicing certain high-cost geographic areas, to offering a truly world competitive long-distance calling service – with truly worldwide revenue generation potential.
“We’ve been extremely busy over the New Year period, investing a great deal of effort into driving our product roadmaps for 2016. We are delighted with how both our planned new features for existing products and our amazing new product initiatives are shaping up.
“2015 was a great year for Norwood, with World Phone in particular performing extremely well, and I look forward to another outstanding year ahead for both World Phone and Corona.
“As we look ahead, I’m confident that 2016 will be a banner year for Norwood. The team has significant vision, passion and energy to bring to bear, and the Company now has the resources and necessary expertise to deliver outstanding outcomes during the year.
“In particular, we look forward to providing further updates on specific planned product enhancements and new initiatives in the weeks and months ahead,” added Ostergaard.
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The company says it will ‘provide two further updates on World Phone downloads and revenues this quarter on approximately 18 February and on approximately 25 March, after which the Company will move in line with the market standard of quarterly updates for revenue reporting, as per ASX Listing Rule requirements.’
You can read more details at the company’s ASX announcement here (PDF link).