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

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

EDGE 2018: Kiwis kick back with Super Rugby before NZ session

New Zealanders kick-started EDGE 2018 with a bout of Super Rugby before a dedicated New Zealand session, in front of more than 50 partners, vendors and distributors on Hamilton Island.​

EDGE 2018: Kiwis kick back with Super Rugby before NZ session
EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018: Kiwis assess key customer priorities through NZ research

EDGE 2018 kicked off with a dedicated New Zealand track, highlighting the key customer priorities across the local market, in association with Dell EMC. Delivered through EDGE Research - leveraging Kiwi data through Tech Research Asia - more than 50 partners, vendors and distributors combined during an interactive session to assess the changing spending patterns of the end-user and the subsequent impact to the channel.

EDGE 2018: Kiwis assess key customer priorities through NZ research
Show Comments