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Syntonic June 2019 Quarterly Review and Appendix 4C
Unaudited revenue of $2.49 million, a 41% increase on Q3 FY19 ($1.76 million) and up 523% on the prior corresponding period (Q4 FY18 $0.40 million)
Quarterly Active Users (QAU) grew to 10,025,965, a 33.7% increase on Q3 FY19 (7,497,279)
Quarterly operating expenses of $1.84 million, down 9.4% on Q3 FY19 ($2.04 million), closing the gap toward targeted cash flow breakeven in FY20
Cash receipts of $0.72 million, down 19% on Q3 FY19 ($0.88 million) due to longer payment cycles from Brazilian carriers, though up 8.6% on the prior corresponding period (Q4 FY18 $0.66 million)
Customer traction with Vodacom’ s launch of a data-free version of the TurnUp Music service; new reseller agreement with AQN to deploy with Telkomsel Indonesia; and a partnership agreement with Opari Inc.
Syntonic CEO and Managing Director, Gary Greenbaum said: “This last quarter the Company realised record unaudited revenue of $2.49 million to achieve a total of $7.08 million in unaudited revenue for FY19. Moreover, with disciplined management of our operating expenses, we have been able to reduce our operation expenses this quarter by over 9%, to get the Company closer to our target of cash flow breakeven in FY20. “Syntonic has been particularly successful in Brazil with the mobile commerce component of our Revenue Generation Platform (RGP) deployed in the four main Brazilian carriers, allowing the Company to sell high margin subscription content direct to consumers. We see a great opportunity to build on this success by focusing more of our internal resources on growing our customer base of premium branded content providers and replicating this service in other markets where the Company already has an established presence such as Vietnam, Philippines and South Africa. “While premium brand contracts will often require an upfront investment and/or a minimum financial guarantee from Syntonic, we expect to achieve shorter sales and deployment cycles through these higher margin business opportunities.”
