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In Q2 FY25 the Company strengthened its partner program, enhanced the customer experience, and accelerated product innovation to drive H2 Vantage DX revenue.

After extensive collaboration with Managed Service Providers (MSPs) and market experts, the Martello Partner Network was launched subsequent to quarter-end, designed directly from partner insights and expertise. Vantage DX product innovation in Q2 FY25 included the release of a Microsoft Outage Early Warning feature, leveraging AI to make IT and partner operations more efficient when a Microsoft Teams service outage occurs. Martello continues to develop features in Vantage DX that support Microsoft Teams premium services, which are used by more than 75% of Teams Enterprise customers. The Company launched a new website, designed to increase traffic from qualified buyers and accelerate visitor conversion into opportunities. As part of its commitment to industry-standard data security and privacy, Martello completed a SOC 2 Type 1 audit for Vantage DX.The Company introduced initiatives to strengthen the Vantage DX customer experience, including the launch of an Early Adopters Program.The Mitel channel remains a large and stable source of margin and revenue in which Martello continues to invest. Multi-vendor solutions are becoming increasingly attractive to telephony and unified communications partners.Appointment of IT managed services leader Michael Contento to the Martello board of directors subsequent to quarter-end brings complementing expertise as the Company scales its Partner Network.

OTTAWA, ON, Nov. 14, 2024 /CNW/ – Martello Technologies Group Inc., (“Martello” or the “Company”) (TSXV: MTLO), a provider of user experience management solutions purpose-built for Microsoft Teams, Microsoft 365 and Mitel unified communications, today released financial results for the three months ended September 30, 2024. Martello’s software proactively detects performance issues before they impact users of these enterprise cloud communications and collaboration systems.

Terence Matthews, Chairman of Martello expressed his belief in the value of providing multi-vendor experience management to Mitel and its partners: “Managing the user experience across Mitel and Microsoft Teams delivers substantial value, allowing channel partners to differentiate and reduce the cost of supporting these enterprise communication and collaboration systems,” said Mr. Matthews. “Partners and telephony players recognize the opportunity to boost client satisfaction and retention, while also driving operational savings with Martello’s solutions.”

“Our targeted investments in H1 FY25 have set Martello up to accelerate Vantage DX growth through the partner channel”, said Jim Clark, Chief Executive Officer of Martello. “I’m thrilled that we have successfully launched the Martello Partner Network, onboarding several new partners with growth in our channel pipeline. We will continue to recruit, onboard and activate targeted partners and work together with them to deliver Vantage DX features that provide compelling value, particularly for Microsoft premium services such as Teams Phone, CoPilot for M365 and Teams Rooms, which are seeing rapid adoption globally as businesses seek to drive hybrid workplace productivity.”

Q2 FY25 Financial Highlights

Revenue in Q2 FY25 was $3.64M representing a 9% decrease compared to Q2 FY24, due to expected declines in legacy product and support and maintenance revenue, partially offset by growth in Vantage DX revenue.Vantage DX monthly recurring revenue (“MRR”) increased by 5% in Q2 FY25 compared to Q2 FY24, both from direct sales and activities with partners. Vantage DX is the experience management solution that is purpose-built for Microsoft Teams. Vantage DX has contributed $1.23M in revenue in FY25 to date, a 10% increase compared to the same period in FY24.Sunsetting legacy product revenue declined by 11% or $0.18M in Q2 FY25 compared to Q2 FY24. The ongoing decline of legacy product revenue is proceeding as expected.Revenue from the Mitel business segment decreased by 10% in Q2 FY25 compared to the same period in the prior year. This decrease is attributable to a revenue mix change from various Mitel Performance Analytics offerings. The Mitel business continues to be a large and stable source of revenue and gross margin, representing 43% of total revenues in Q2 FY25 (compared to 44% in Q2 FY24) and 97% gross margin as a percentage of segment revenue.Revenue was 98% recurring in both Q2 FY25 and Q2 FY24.Gross margin as a percentage of total revenue was 86% in Q2 FY25, compared to 87% in Q2 FY24. The decrease is attributable to the higher cost of hosting software products on the cloud. Management continues to execute a strategy to reduce hosting costs. In addition, as the Company onboards new clients to existing cloud instances, the cost per client will continue to decrease.MRR decreased by 9% to $1.19M in Q2 FY25 compared to $1.30M in the prior year. The decrease is primarily attributable to changes in the mix of Mitel’s software assurance program and expected declines in legacy product revenue. MRR is a non-IFRS measure, representing average monthly recurring revenues earned in a fiscal quarter.Operating expenses were $4.20M in Q2 FY25 compared to $4.16M in Q2 FY24, a 1% increase. The nominal increase is driven by an increase in software costs, marketing and advertising and professional fees (consulting) partially offset by lower headcount costs and related variable compensation.The Company is investing in Vantage DX revenue growth as management monitors value for spend in all functions of the value chain.The Q2 FY25 loss from operations of $1.07M represented a 56% increase compared to $0.68M in Q2 FY24, due to the decrease in revenue as described above.The Adjusted EBITDA (a non-IFRS measure) was a loss of $0.58M in Q2 FY25, compared to $0.10M in the same period of FY24, attributable to the items described above.The Company’s cash and short-term investments balance was $4.57M as of September 30, 2024 (compared to $7.72M at March 31, 2024).

The financial statements, notes and Management Discussion and Analysis (“MD&A”) are available under the Company’s profile on SEDAR+ at www.sedarplus.ca, and on Martello’s website at www.martellotech.com. The financial statements include the wholly-owned subsidiaries of Martello. All amounts are reported in Canadian dollars.

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.

About Martello Technologies Group

Martello (TSXV: MTLO) is a technology company that provides user experience management solutions purpose-built for Microsoft Teams and Mitel unified communications. The Company’s Vantage DX solution enables IT teams to deliver a frictionless Microsoft Teams experience to their users. With Vantage DX, IT can move from reactive to proactive by detecting potential performance issues before they impact users, and speeding resolution time from days to minutes.  This leads to increased productivity, realizes efficiencies, and allows businesses to harness the full value of Microsoft Teams. Martello is a public company headquartered in Ottawa, Canada with employees in Europe, North America and the Asia Pacific region.  Learn more at http://www.martellotech.com

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 Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information 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 and ” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future, including the aim to increase Vantage DX revenue growth, the intention that targeted investments in H1 FY25 will accelerate Vantage DX growth through the partner channel, and management’s aim to execute a strategy that will reduce hosting costs.

Forward-looking information is neither a statement of historical fact nor assurance of future performance. Instead, forward-looking information is 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 information relates to the future, such statements 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 information. Therefore, you should not rely on any of the forward-looking information. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking information include, among others, the following:

Continued volatility in the capital or credit markets and the uncertainty of additional financing.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.and other risks disclosed in the Company’s filings with Canadian Securities Regulators, including the Company’s annual information form for the year ended March 31, 2021 dated January 7, 2022, which is available on the Company’s profile on SEDAR at www.sedar.com.

Any forward-looking information provided by the Company in this news release is based only on information currently available 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 information, 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 Inc.

HOUSTON, Nov. 14, 2024 /PRNewswire/ — NASA’s Johnson Space Center is seeking proposals for the use of its historic, but underused, Vibration and Acoustic Test Facility. Prospective tenants must submit facility walk-through requests by Monday, Nov. 18.

Final proposals are due by 12 p.m. EST Monday, Dec. 16, and must promote activities that will build, expand, modernize, or operate aerospace-related capabilities at NASA Johnson and help preserve the historic and iconic building through preservation and adaptive reuse.

NASA plans to sign a National Historic Preservation Act (NHPA) lease agreement for the facility, also known as Building 49, for a five-year base period and one five-year extension to be negotiated between NASA and the tenant. To request a walk-through, send an email to hq-realestate@mail.nasa.gov. 

“This historic facility has been used for decades to ensure the success and safety of all human spaceflight missions by putting engineering designs and hardware to the ultimate stress tests,” said NASA Johnson Director Vanessa Wyche. “For more than 60 years, NASA Johnson has been the hub of human space exploration and this agreement will be a vital part of the center’s efforts to develop a robust and durable space economy that refines our understanding of the solar system and space exploration.”

All proposals must adhere to the guidelines detailed in the Agency Announcement for Proposals describing concept plans for development of the property, including any modifications proposed to the building; a statement of financial capability to successfully achieve and sustain operations, demonstrated experience with aerospace-related services or other space-related activities, and a detailed approach to propelling the space economy.

The nine-story building complex has a gross square footage of 62,737 square feet and consists of a north wing measuring 62 feet long, 268 feet wide and 106 feet tall, and a central wing about 64 feet long and 115 feet wide. Building 49 currently houses five laboratories, including the General Vibration Laboratory, Modal Operations Laboratory, Sonic Fatigue Laboratory, Spacecraft Acoustic Laboratory, and Spacecraft Vibration Laboratory. The south administrative portion of the building is not included in the property offered for lease. 

As the home of Mission Control Center for the agency’s human space missions, astronaut training, robotics, human health and space medicine, NASA Johnson leads the way for the human exploration. Leveraging its unique role and location, the center is developing multiple lease agreements, including the recently announced Exploration Park, to sustain its key role in helping the human spaceflight community foster a robust space.

In the coming years, NASA and its academic, commercial, and international partners will see the completion of the International Space Station Program, the commercial development of low Earth orbit, and the first human Artemis campaign missions establishing sustainable human presence on the Moon in preparation for human missions to Mars.

Johnson already is leading the commercialization of space with the commercial cargo and crew programs and private astronaut missions to the space station. The center also is supporting the development of commercial space stations in low Earth orbit, and lunar-capable commercial spacesuits and lunar landers that will be provided as services to both NASA and the private sector to accelerate human access to space. Through the development of Exploration Park, the center will broaden the scope of the human spaceflight community that is tackling the many difficult challenges ahead.

Learn more about NASA Johnson’s efforts to collaborate with industry partners:

https://www.nasa.gov/johnson/frontdoor/ 

NASA Johnson Space Center news releases and other information are available automatically by sending an Internet electronic mail message to listserv@listserver.jsc.nasa.gov.  In the body of the message (not the subject line) users should type “subscribe hsfnews” (no quotes). This will add the email address that sent the subscribe message to the news release distribution list. The system will reply with a confirmation via E-mail of each subscription.  Once you have subscribed you will receive future news releases via e-mail.

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SOURCE NASA

RICHMOND, Va., Nov. 14, 2024 /PRNewswire/ — Cabana, a modern mental health provider offering confidential, tech-enabled support, has partnered with the Virginia Department of Veterans Services (DVS) to provide free, comprehensive mental health resources to Virginia’s veterans, Guard and Reserve members, as well as their spouses and caregivers. This collaboration expands access to Cabana’s digital mental health services, including live peer support groups moderated by Virginia-certified Veteran Peer Specialists.

Originally developed through research and development initiatives with the U.S. Air Force, Cabana’s services are designed to meet the unique needs of military and veteran communities. With this partnership, eligible Virginia users gain full access to Cabana’s digital suite, which includes the full range of virtual, professionally facilitated groups offered by Cabana, as well as dedicated Virginia Veteran peer-led support groups. Participants can connect discreetly on topics such as transitioning to civilian life, managing family relationships, and coping with stress, all within a secure and confidential environment accessible from any device.

David Black, Founder and CEO of Cabana, underscored the mission behind the partnership: “We’re honored to work with the Virginia Department of Veterans Services to offer a holistic mental health solution for Virginia’s military-connected community. With Virginia-certified Veteran Peer Specialists and our full array of live support groups, we’re providing a powerful, confidential resource that veterans and military families can rely on, whenever and wherever they need it.”

Key Features of the Partnership:

Comprehensive Access to Support: Virginia veterans, Guard/Reserve members, and their families will have unrestricted access to all live virtual groups available through Cabana, in addition to specialized peer-led groups run by Virginia-certified Veteran Peer Specialists.Support for Families and Caregivers: The initiative includes spouses and caregivers, addressing the unique mental health needs of military-connected families through sessions tailored to issues like family dynamics, stress management, and the transition to civilian life.Confidential and Flexible Access: Cabana’s services are available on mobile and desktop devices, providing Virginia’s veterans and their families with an easily accessible, cost-free solution for mental health support.

This collaboration highlights Cabana’s commitment to supporting the mental well-being of those who serve and their families. By joining forces with the Virginia Department of Veterans Services, Cabana seeks to strengthen the resilience and wellness of Virginia’s military community.

For more information on the partnership between Cabana and the Virginia Department of Veterans Services, please contact:

Nick Armstrong, Ph.D.
Head of Public Sector, Cabana
nick@cabanahealth.org

About Cabana™
Cabana is a leading, modern mental health provider offering confidential, tech-enabled support solutions tailored to the needs of diverse communities. Through live, professionally moderated group sessions, evidence-based content, and adaptable wellness tools, Cabana helps individuals proactively manage their mental health. Our mission is clear: to make mental health care more accessible through technology and human connection.

About the Virginia Department of Veterans Services (DVS)

The Virginia Department of Veterans Services (DVS) is a state government agency with more than 50 locations across the Commonwealth of Virginia. DVS traces its history to 1928 and the establishment of the Virginia War Service Bureau to assist Virginia’s World War I veterans. Today, DVS assists veterans and their families in filing claims for federal veterans benefits; provides veterans and family members with linkages to services including behavioral health, housing, employment, education, and other programs. The agency operates long-term care facilities offering in-patient skilled nursing care, dementia/memory care, and short-term rehabilitation for veterans; and provides an honored final resting place for veterans and their families at three state veterans cemeteries. It operates the Virginia War Memorial, the Commonwealth’s tribute to Virginia’s men and women who gave the ultimate sacrifice from World War II to the present. For more information, please visit www.dvs.virginia.gov.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cabana-partners-with-virginia-department-of-veterans-services-to-provide-comprehensive-free-mental-health-support-for-veterans-guardreserve-members-and-their-families-302306404.html

SOURCE Cabana