Netlinkz Limited (ASX:NET) is approaching a key milestone of turning cashflow positive as business development initiatives begin to take hold in various markets and other markets show encouraging signs.
An indication of this was provided by a sharp jump in revenue in the second half of financial year 2020, rising from $640,529 in the first half to $4,612,755 in the second half.
The company said it was developing the sales pipeline for various geographies, including the ASEAN region as well as China, Japan and India.
Netlinkz Global Australia is also being restructured to focus on sales and local contracts have been executed.
Ahead of schedule[hhmc]
Further, the company said it was ahead of its planned product update.
As at its EGM on September 17, 2020, the company had reached its 2022 target of product maturity and sales.
It had planned for product iteration in 2023 and product evolution in 2024.
Netlinkz said the increasing mobility would drive continued growth and opportunity.
The global mobile application market is expected to surge to US$407 billion in 2026 from US$106 billion in 2018.
The Virtual Secure Network (VSN) market is also opening markets faster for Netlinkz, based on the global mobile subscriptions.
It noted that despite COVID-19, there had been a massive growth in the second quarter of 2020 with China and the US recording sharp rises in mobile subscriptions.
Netlinkz said it would succeed through its VSN product, competitive price point, market opportunities and proven demand.
It also is able to leapfrog legacy technology.
Netlinkz has developed the VSN overlay technology platform that delivers cost-effective connectivity solutions, enabling clients to make day-to-day networking and connectivity simple, fast and secure.
Its “out-of-the-box” intelligent networking solution allows clients to:
➢ Deploy scalable connectivity solutions: Meet business demand by connecting globally with clients, branches and cloud platforms on a highly secure network overlay;
➢ Secure remote collaboration: Make team collaboration, remote access, and corporate VPN connections faster, simpRead More – Source