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Vonex (ASX:VN8) - Managing Director, Matt Fahey (second from left)
Managing Director, Matt Fahey (second from left)
Sourced: Business News
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  • Telecommunications innovator, Vonex (VN8) has reported its strongest month in its history
  • The company reported a total contract value (TCV) of new customers totalling nearly $800,000
  • On top of that, the company said its third quarter of the 2020 financial year is the strongest quarter it has ever achieved
  • Vonex saw a TCV of nearly $2 million, which is a 109 per cent increase since this time last year
  • The company said this was due to the COVID-19 pandemic as most businesses are working from home
  • Key marketing partner, Qantas Business awards, is set to launch business Essentials campaign for small and medium enterprises
  • This means members can earn Qantas points on Vonex’s Ondesk and NBN products
  • Executive and Non-Executive Directors have volunteered to take a 22 per cent pay cut to ensure the company is well-positioned in these uncertain market conditions.
  • On market close, Vonex is up 13.9 per cent and is selling shares at 7.4¢ each

Telecommunications innovator, Vonex (VN8) has reported its strongest month in its history, with a total contract value (TCV) of new customers totalling $787,000.

On top of that, the company said the third quarter of the 2020 financial year is the strongest quarter it has ever achieved, with a 109 per cent increase since this time last year.

Vonex reported a TCV for the third quarter to be $1.99 million.

The company said this was due to the COVID-19 pandemic as most businesses are working from home. Its ‘Stay at Home with Vonex’ marketing campaigns have seen the company grow softphone sales by in excess of 1000 per cent in February and March compared to last year.

Vonex’s softphone products are the desktop and mobile apps which act as an extension of a worker’s business phone system offered as part of the company’s ONdesk monthly plans.

TCV of provisioned customers is calculated using the minimum monthly commitment multiplied by the contract length and is typically realised over a period of between one and three years.

TCV is for new customers only and excludes existing customers re-contracting.

This graph shows TCV added each quarter since the beginning of FY19. Sourced: Vonex

Qantas Business Rewards

Qantas Business Rewards has confirmed plans to run a “Business Essentials” campaign, which will showcase Vonex’s communications solutions for its ONdesk & NBN plans to its small and medium enterprises in April.

This means members will be able to earn Qantas points on Vonex’s Ondesk and NBN products.

“Vonex’s partnership with Qantas Business Rewards has added mutual value and has rapidly translated into rising Vonex brand awareness and sales,” the company told the market.

COVID-19

Vonex’s Executive and Non-Executive Directors have volunteered to take a 22 per cent pay cut from their fees for an initial three months, to ensure the company is well-positioned in these uncertain market conditions.

On market close, Vonex is up 13.9 per cent and is selling shares at 7.4¢ each.

VN8 by the numbers
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