Menu
Bulletproof sees revenue dip in last half of FY16

Bulletproof sees revenue dip in last half of FY16

Still expects final revenue to be in line with expectations

Anthony Woodward - Co-founder and CEO, Bulletproof

Anthony Woodward - Co-founder and CEO, Bulletproof

Sydney-based Cloud provider, Bulletproof (ASX:BPF), has advised the market that professional services revenues have been flat toward the end of the last half of the financial year.

The company released its FY16 results guidance and trading update which shows full year revenues are expected to be in line with expectations at $47 million, a 67 per cent increase on FY15.

Recurring revenue sources are expected to contribute approximately 80 per cent of total revenue.

The company said revenue from services and consulting were strong in the first half of the year but cited “Weaker than usual seasonal behaviour” and project delays in New Zealand as causes for the flat revenue in the last half of the of FY16.

Bulletproof acquired New Zealand-based Cloud Provider, Cloud House, in February 2016 to expand its New Zealand operations.

This financial year has also seen the company invest in application product development but revenue from these is only at a trickle and had not met expectations. These revenues are expected to gain momentum in the next financial year.

The company said that during the period of of lower activity and revenue, utilisation levels of the professional services engineering team dropped and this impacted profit.

However, the company added it had significant customer wins in the same period and this would see revenue increase in the first part of FY17.

The company has positive cash flow, reporting $4.6 million in the bank.



Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags CloudfinancialsBulletProof

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments