ActivePort (ASX: ATV), a global software provider, has reported a strong software growth as the company approaches the end of FY22. The company’s group revenue, which has now climbed to $12.3 million on a year-to-date basis, is on track for a double growth rate from what it gained in the H1 to H2 FY22. The software company’s primary growth area has been its high-margin software business. The company has decided to pursue a multimillion-dollar pipeline within this segment.
The company also signed a major contract with India’s Lightstorm Telecom, a deal projected to bring over $1 million to ActivePort. In this deal, ActivePort will help Lightstorm build its utility-grade fiber network called SmartNet by delivering their Management and Orchestration (MANO) software to the Indian Telecom. SmartNet will connect all the major economic hubs in India via 45+ data centers with this MANO software.
This and other significant deals have increased ActivePort’s software-related revenue to $1.23m in May, making the H2 revenue grow at 666% more than the $0.16m derived in H1. However, even though the company’s stock was hit due to the turmoil experienced by the ASX stocks, it is by no means a true reflection of the company’s state.
Karim Nejaim, the CEO of ActivePort said, “ActivePort is a global business that’s growing rapidly from a relatively small base, so I’m confident we can manage our way through this period of global economic uncertainty to deliver revenue growth across the business.”
The company’s Managed Services division has also continued to deliver significant values as it keeps providing new revenue opportunities. ActivePort is proceeding to expand its reach into new markets and sign deals with new clients. A good example is an agreement signed with Radian Arc. In April, the company also announced the acquisition of Future Broadband, an Australian telco provider. This deal is expected to generate $1.8m in revenue.
According to Nejaim, “ActivePort continues to deliver on all fronts, and we have several exciting projects in the sales pipeline.”
Featured Image: DepositPhotos © VadimVasenin
