Vonex won the CRN Fast50 Award in 2014.
Yes that is not disputed. Just ask them and some holders here, it is mentioned every second post.
The revenue growth reported by CRN was a 232% increase for the 2013 -2014 fin year.
This was impressive. The award is won based on bext revenue growth % from previous year.
So I did some more research, thinking maybe Vonex were better than I have given them credit for.
The research concluded with the following:
Vonex bought Itrinity in the late 2013 financial year.
Intrinity already had revenue of $2.4m
http://vonex.com.au/staging/2013/02/vonex-and-itrinity-to-merge/
"VoNEX Ltd has agreed on terms for a merger with its most successful channel sales partner, itrinity. It adds around $2.4m pa in revenue....."
CRN fast 50 award had Vonex at revenue of $3.7m for 2013 - 2014
The year prior, Vonex on its own (without Itrinity) had revenue of circa 900k as per AWD Vonex presentation.
So $3.7m revenue - $2.4m (actual bought revenue) = $1.3m Vonex revenue.
So the true revenue growth rate IMO is $900k/$1.3m or 69% increase and $400k increase.
Not a 232% increase at all?
I'm somewhat bemused by this research.
So my only conclusion is that to win this award, and be bandied around like Vonex as the fastest growing Australian telco company in 2014, you just go and buy up other revenue and this is included in your revenue increase for the same year?
What a complete shocker.
