NetLinkz revenue surges 846% in FY20 after major transformation with further growth drivers in place

NetLinkz Limited (ASX:NET) has recorded very strong revenue growth in the financial year 2020 after undergoing a major transformation, including setting up a solid platform that underpins continued growth and evolution into a leading virtual secure network (VSN) company for blue-chip corporations and government.

In addition to boosting its board and management team to drive growth across international markets with the key focus still on China, the company also announced its entry into India and other markets through its partnership with technology solutions provider Natsoft Corporation.

“On cusp of significant growth”

NetLinkz executive chairman and CEO James Tsiolis said: “NetLinkz is on the cusp of significant growth through uptake of its market-leading VSN technology and we are confident that these board and management appointments will greatly assist the company on its trajectory."

He said the company had an experienced suite of senior executives to ensure that NetLinkz not only hit its revenue targets but also grew its top-line more aggressively in existing and new markets around the world.

“Demand for security intelligence and monitoring solutions from government bodies, telecommunication companies and corporations continues to increase, underpinned by higher demand for Cloud and IOT solutions, and we anticipate this will translate into sales growth for NetLinkz in the near term,” Tsiolis added.

Impressive revenue growth

In the 2020 financial year, the company reported revenue of $5.25 million, a 846% rise from the prior year, mainly attributable to the rapidly increasing VSN sales in China and the second half contribution from its SSI Pacific business that was acquired on January 6, 2020.

The company is forecasting customer receipts of $15 million for the 2020 calendar year.

Strengthens board and management

NetLinkz recently announced that Australias former ambassador to China from 2007 to 2011, Dr Geoff Raby has been appointed non-executive director.

His appointment will provide NetLinkz with important representation in the Chinese market during a critical growth phase.

Dr Raby was also the deputy secretary in the Department of Foreign Affairs and Trade (DFAT) and held a number of senior roles within the department.

He has also held a number of ASX-listed company directorships, including roles with Yancoal Australia Ltd (ASX:YAL), Fortescue Metals Group Limited (ASX:FML) and OceanaGold Corp (ASX:OGC) amongst others.

The company also appointed James Stickland as non-executive director, while former chief operating officer Jim Preketes, will assume the role of head of global partnerships, and Grant Thomson will transition from a non-executive director role to chief revenue officer.

Partnership deal with Natsoft

NetLinkz announced its entry into India and other international markets through a Master Services Agreement (MSA) signed with emerging technology software solutions provider Natsoft Corporation, which has an established presence in the URead More – Source