Vonex continues on customer and sales revenue growth path

Vonex ASX VN8 private branch exchange telecommunications users
Vonex achieved record sales in the June quarter, up 44% from the March quarter.

Telecommunications company Vonex (ASX: VN8) has reached a fairly significant business milestone by surpassing 30,000 registered active Private Branch Exchange (PBX) users.

PBX registrations are considered to be a key indicator of business development progress for teleco companies such as Vonex, as they attempt to penetrate the multi-billion-dollar Australian market for telco services to small and medium enterprises (SMEs).

Earlier today, Vonex reported that it achieved record sales in the second quarter of this year, up 44% on the previoius three months.

The milestone follows a strong quarter, during which the teleco company achieved solid growth across several key metrics including a 44% increase in new customer sales which exceeded $1.3 million.

Vonex currently offers a range of telecommunications solutions for Australian residential and business customers including mobile, internet, phone and NBN services. The company also provides wholesale customers, such as internet service providers, access to the core Vonex PBX and call termination services at wholesale rates via a white label model.

Continued expansion

In further news, Vonex also reported 26% growth in orders through its channel partner focused sales software platform, Sign on Glass.

The teleco company said the move to Sign on Glass contributes to the increases in sales and conversion rates and “minimises onboarding costs”. Vonex declared the company saw a 16% jump in unique visitors to its website which was attributed to its “continued marketing efforts”.

To supplement its existing activities, Vonex said it expects to see a further boost in sales as a result of its partnership with Australian airline Qantas.

Following the official partnership launch in August, Vonex expects the partnership with Qantas Business Rewards (QBR) as the VoIP and Hosted Phone System telecommunications provider to improve its market traction and improve sales numbers even further.

“We’re really pleased with the progress that we’ve made through the June quarter as we continue to show significant improvement across our key metrics,” said Matt Fahey, managing director of Vonex.

“Achieving 30,000 active PBX users means we have grown our active database by 25% over the past 12 months. We expect to build on this momentum through FY20 and beyond as the QBR partnership is launched and as the NBN rollout schedule approaches its peak, leading to continued growth in active users and contracted revenue,” said Mr Fahey.

George is an award-winning market analyst who has authored articles and editorial opinion pieces for multiple publications around the world. He has written about a wide variety of topics including financial markets, stocks, trading, politics and economics.