Tuesday, 18 August 2020 12:34

Spirit claims a 'transformative' year with record growth in 2020 Featured

Spirit Telecom Managing Director, Sol Lukatsky Spirit Telecom Managing Director, Sol Lukatsky

Australian-listed Internet service provider Spirit Telecom is trumpeting record growth of the business for 2020, with revenue increasing 100% to $34.9 million and an after tax net loss of $1.5 million in what the company describes as a “transformative” year.

Releasing its financial results for the 12-months to the end of June 2020, Spirit said revenue was driven by organic growth, seven completed acquisitions and a “well-tuned integration process”.

Spirit Telecom also reported underlying EBITDA was $3.73million - at the upper end of the guided range and up 88% on the previous year, with net loss after tax at $1.5million “after investing in an aggressive acquisition and organic growth strategy to create scale, size and product depth”.

“As a result of these investments in FY20, Spirit’s July trading update shows that FY21 has started strongly, with new sales of $2.3M (total contract value TCV) added during July, up from $0.9M, representing a 165% increase month on month from June bolstered by the acquisition of VPD Group (completed on 1 July) which contributed $1.3M in TCV,” Spirit said.

Spirit also notes that it signed 21 new Resellers & Spirit Solution Partners nationally in July to sell its products using the Digital Spirit X sales platform that saw “12,000 unique leads and searches in H2 20”.

“FY20 has been a year of phenomenal growth and transformation. The July trading update shows we’re off with a fast start to FY21, and we continue to pursue an aggressive growth agenda both organically and via a range of acquisition options,” said Sol Lukatsky, Managing Director of Spirit Telecom.

“Having completed seven acquisitions, including material acquisitions such as VPD and Trident over the past 12 months, we’ve assembled and integrated the product suite and service delivery model that’s enabled us to become a truly modern Telco and challenge the major IT & Telco providers head on.

“We will continue to invest in growing the Spirit brand nationally and are committed to not only meeting but exceeding the needs of Australian businesses when it comes to their IT and Telco needs, with Spirit’s customer-focused approach.

“In FY21 our priority is to bring our entire Cloud and IT offering onto our digital sales platform, Spirit X, and expand our wholesale dealer network creating an even stronger engine for organic growth.

“We’ll continue with our disciplined M&A strategy, to find right-price, right-fit businesses that support the expansion strategy, as well as continuing to focus on integration and optimising growth synergies.”

Subscribe to ITWIRE UPDATE Newsletter here

Now’s the Time for 400G Migration

The optical fibre community is anxiously awaiting the benefits that 400G capacity per wavelength will bring to existing and future fibre optic networks.

Nearly every business wants to leverage the latest in digital offerings to remain competitive in their respective markets and to provide support for fast and ever-increasing demands for data capacity. 400G is the answer.

Initial challenges are associated with supporting such project and upgrades to fulfil the promise of higher-capacity transport.

The foundation of optical networking infrastructure includes coherent optical transceivers and digital signal processing (DSP), mux/demux, ROADM, and optical amplifiers, all of which must be able to support 400G capacity.

With today’s proprietary power-hungry and high cost transceivers and DSP, how is migration to 400G networks going to be a viable option?

PacketLight's next-generation standardised solutions may be the answer. Click below to read the full article.


WEBINAR PROMOTION ON ITWIRE: It's all about webinars

These days our customers Advertising & Marketing campaigns are mainly focussed on webinars.

If you wish to promote a Webinar we recommend at least a 2 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://www.itwire.com/itwire-update.html and Promotional News & Editorial.

This coupled with the new capabilities 5G brings opens up huge opportunities for both network operators and enterprise organisations.

We have a Webinar Business Booster Pack and other supportive programs.

We look forward to discussing your campaign goals with you.


Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News