Martello Adds More than 450,000 New Microsoft 365 Users Since June 2020
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Total users served by Gizmo reaches 2 million.
OTTAWA, ON, Oct. 20, 2020 /CNW/ - Martello Technologies Group Inc., ("Martello" or the "Company") (TSXV: MTLO), a provider of digital experience monitoring (DEM) solutions for thousands of customers around the world, provided an update today on sales and market growth for the Gizmo Microsoft 365 user experience monitoring solution, which reached 2 million users in Q2 FY21. Gizmo was developed by GSX, a Gartner recognized DEM provider acquired by Martello in May 2020.
Martello has recently won significant Gizmo deals:
- A large multinational firm chose Gizmo to manage the Microsoft user experience, purchasing 135,000 user licenses. This purchase brought their total user count to 400,000, contributing six figures to Martello's annual recurring revenue.
- A European IT Consulting firm with revenues of more than €3 billion purchased 9,000 Gizmo licenses.
- A European financial services firm with more than 10,000 employees and €2 billion in revenues purchased Gizmo user licenses for every employee, in a 2-year subscription.
Recent Microsoft 365 outages were detected in advance by Gizmo, which has resulted in inbound inquiries, as organizations seek to manage performance interruptions more proactively to keep users productive. In addition to these direct enterprise Gizmo sales, Martello is seeing interest in the solution from both its Mitel channel partner base and enterprise iQ customers, proving that there are significant opportunities for cross-selling into Martello's existing client base.
With more than a million enterprises worldwide now using Microsoft 365 (Statista, April 2020), Martello has a significant and growing opportunity to capture this demand. 400,000 businesses are expected to choose a DEM solution for Microsoft 365 over the next five years. Having increased by more than 25% since June 2020 to reach 2 million Microsoft 365 users monitored by Gizmo, Martello is well positioned to maintain and even accelerate sales momentum as Microsoft adds an average of 3 million users each month and the Company leverages channel partnerships and the Microsoft Co-Sell program.
"Recent wins are a testament to Martello's unique competitive advantage in the growing Microsoft 365 DEM market", said John Proctor, President and CEO of Martello. "The recent Microsoft 365 service interruptions have shone a greater spotlight on the importance of Martello's solutions, which are a part of the Microsoft Co-Sell ecosystem".
Added Martello CFO Erin Crowe "We are very pleased that these new enterprise licenses are subscription contracts, which help accelerate growth in our high-quality recurring revenues".
Learn About Digital Experience Monitoring (DEM)
Video: Microsoft 365 Monitoring
Whitepaper: Ensuring Teams Performance when it's OneDrive, SharePoint and Exchange Under the Hood
Blog: When Microsoft 365 Services Are Interrupted, You Need Better Visibility (by Nick Cavalancia, Microsoft MVP)
Presentation: Martello Investor Presentation (October 2020)
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides digital experience monitoring (DEM) solutions. The company's products provide monitoring and analytics on the performance and user experience of critical cloud business applications, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's software products include unified communications performance analytics, Microsoft 365 end user experience monitoring and IT service monitoring and analytics. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Amsterdam, Geneva, Nice, Paris, Dallas and New York. Learn more at http://www.martellotech.com
This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Forward-looking statements can be identified by words such as:"anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding accretive monthly recurring revenues and effect of closing on the Company's gross margins.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following:
- Continued volatility in the capital or credit markets.
- Our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so.
- Changes in customer demand.
- Disruptions to our technology network including computer systems and software, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our operating systems, structures or equipment.
- Delayed purchase timelines and disruptions to customer budgets, as well as Martello's ability to maintain business continuity as a result of COVID-19.
Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE Martello Technologies Group
CONTACTS: Tracy King, Vice President of Marketing, [email protected], 613.410.7636; John Proctor, President & CEO, [email protected], 613.271.5989
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