GeoOp user growth accelerates in December quarter
GeoOp added 3,021 licensed users in the three months ended Dec. 31, taking its total to 16,391.
GeoOp [NZX:GEO], whose software allows mobile businesses such as builders to manage their workforce, reported accelerating growth in user numbers through the final three months of 2014.
The Auckland-based company added 3,021 licensed users in the three months ended Dec. 31, taking its total to 16,391, more than twice the number it had a year earlier, it said in a statement. The quarterly growth was 50 percent higher than the 2,016 users the firm added in the September quarter.
Last month GeoOp reported a 206 percent increase in revenue to 382,000 in the six months ended Sept. 30, and said it passed $1 million in annualised subscription revenue. The company's first-half loss widened to $2.7 million in the period from $1.6 million a year earlier as it foregoes short-term profitability in a bid to capture market share in the growing reliance on smart phones, where its app can help small- and medium-sized enterprises manage remote workforces.
Earlier this month GeoOp got a 'please explain' note form the stock market operator over a 73 percent spike in its share price, to which it said it wasn't aware of any specific reasons for the move and that its tightly held register increases volatility.
The NZAX-listed shares last traded at 63 cents, and have slumped 74 percent in the past 12 months.
(BusinessDesk)
Paul McBeth
Thu, 22 Jan 2015
Thu, 22 Jan 2015
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GeoOp user growth accelerates in December quarter
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