Increased subscribers and service provider partnerships have helped telecommunications specialist Dubber Corporation (ASX: DUB) achieve record revenue for the December quarter.
The company informed shareholders today that it generated $1.27 million in revenue for the three-month period, representing a 77% increase on the previous quarter and a massive 327% jump on the 2017 corresponding quarter.
While October saw a slight decline in revenue, November marked the first time Dubber had achieved over $500,000 in revenue in a single month.
This was repeated in December, and the company expects a similar result for January 2019.
The revenue jump was aided by record growth in service provider partnerships, in line with providers increasingly moving services to the cloud.
Service provider partnerships increased from 57 to 92, and Dubber said it would continue to expand its service provider network footprint.
A big win for Dubber during the quarter was securing a deal with IBM to provide a cognitive call solution. The solution combines IBM’s Watson artificial intelligence with Dubber’s cloud-based call recording to provide customers with a comprehensive analysis of recorded calls and meetings.
Other highlights over the quarter included the completion of a $5 million placement as well as clinching a $1.7 million AusIndustry Research and Development grant.
Dubber at ‘embryonic point’
In addition to service provider partnership growth, the company witnessed an increase in the number of its end user subscribers which jumped 54% to 68,575 during the quarter.
“With the continued growth in service provider partnerships and the fact that its existing customers are all still ‘early stage’, the company believes that it is still at an embryonic point in terms of its penetration of the ultimate addressable market,” Dubber told shareholders.
Dubber’s call recording service has already been adopted as core network infrastructure by telecommunications carriers in North America, Europe and the Asia Pacific, and it has no plans of slowing down.
The company said it would remain focused on increasing the number of active users of the service, grow revenue from users of the Dubber platform and increase the global footprint across telecommunication service providers.
Dubber’s shares closed the trading day up 6.7% to $0.475.