GEO (NZSX) geoop q3 2014 operating update

GeoOp Q3 2014 Operating update
8:30am, 23 Jan 2014 | QUARTER
GEOOP LIMITED (NZX:GEO)
Operating update for the three months ended 31 December 2013

AUCKLAND, Thursday 23 January 2014

Operating performance update
GeoOp, which recently listed on the NZAX market, is pleased to announce its paying user numbers for the third quarter of the financial year to 31 March 2014.

Paying users as at 31 December: 5,300 (30 Sept: 4,500)
Paying users added in the third quarter: 800
Quarterly growth in paying users: 18%

GeoOp has continued its growth during the third quarter with a net 800 paying users signing up to the GeoOp platform during the quarter. At the end of December 2013, paying users totaled 5,300, an 18% increase on the September 2013 number.

GeoOp is well on track to meet its operational goal of 6,000 to 7,000 paying users by 30 June 2014, as set out in the Disclosure Document released to the market on 31 October 2013, when GeoOp listed on the NZAX.

Commenting on the operating result, GeoOp Chief Executive Leanne Graham said “This has been an exciting time for GeoOp. Following the completion of the $10 million capital raising and listing in October 2013, GeoOp is now poised to continue its growth both domestically and internationally. GeoOp is now rolling out new product features that ensure we continue to have a market leading job management and costing offering for the services and trades sectors.”

Product development
The third quarter has seen a focus on the development of significant new product features that are planned to be rolled out in the next three months for the web console and the native iPhone, iPad and Android applications. In addition, considerable work has gone into advancing the capability of GeoOp’s application programming interface (“API”). This assists to deliver a world-class development platform enabling GeoOp’s eco-system to expand through add-on product integrations.

Human resources
During the third quarter GeoOp continued to grow with highly focused hires in the development, sales, marketing and service functions. Staff numbers increased illustrating GeoOp’s commitment to continually invest in product development and build a sales and marketing platform that facilitates its international growth aspirations. GeoOp has recently commenced a search for a global head of Product, to drive innovation and customer experience.

For more information please contact:
Stewart Reynolds
Email: [email protected]

About GeoOp Limited www.geoop.com

GeoOp Limited, the New Zealand-based mobile workforce management company globally empowering trades and services businesses to create efficient business processes.

GeoOp Limited provides a cloud based solution for trades and services that replaces inefficient, paper-based systems with a simple way to accurately create, assign, cost, quote and invoice jobs while in the field.

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