AWS Cloud boosts Bulletproof revenues
- 21 August, 2014 13:38
Cloud provider, Bulletproof, has recorded strong full year revenue growth - with the help of Amazon Web Services - in it's first full year as a listed company.
The company posted full year revenues of $18.3 million, up 29 per cent, and underlying EBITDA of $2.9 million, an increase of 31 per cent.
However, it recorded net loss of $3.1 million after impairment of historic good will, and deal costs as a result of the reverse listing in January 2014.
The underlying profit was $450,000.
The period has also seen customer wins including Bauer Media, Racing Victoria, Mazda, Olympus Australia, and Moshtix.
Bulletproof chief executive, Anthony Woodward, said the strong result for the company's first full year as a listed company showed its managed Cloud strategy was delivering.
"The Amazon Web Services partnership continues to deliver rapid growth, with AWS-based revenues around 17 per cent of recurring revenues for the period, compared with 1 per cent for FY13," he said.
"Enterprise customers continue to find public cloud options very attractive, leading them to seek a quality managed services partner to lock in the numerous benefits - such as agility and time to market - to their business."
According to a company statement, the growth engine for the business was the provision of managed Cloud services on external Cloud platforms such as AWS.
"With AWS being the first global Cloud platform to launch in Australia, Bulletproof seized the opportunity to become the first managed services provider in this market to deliver Managed AWS in October 2012."
Recurring revenue continues to remain strong, accounting for 85 per cent of total revenues.
The Melbourne operation is also expanding with a local sales team, while the company's US operations also continue to expand.
According to a company statement, Bulletproof expects to continue to grow revenues and profitability over the coming year, and to benefit from the operating leverage afforded by the increased scale.