GOING NEXT-LEVEL IN MOBILE PAYS OFF FOR OTHERLEVELS
Written on the 21 August 2015 by Laura Daquino
MOBILE marketing and analytics outfit OtherLevels Holdings (ASX: OLV) has taken $1.71 million in revenue over the past five months, since its inception in February.
This represents a deeper incline on already steep growth prior to listing.
Steve Baxter was an early backer of the company, that has seen its revenue grow by more than 100 per cent in the last six months of 2014, while privately operating under the name OtherLevels.
For comparison purposes, its December 2014 revenue was $184,121, while its June 2015 revenue was $290,119.
OtherLevels attributes its rise to the redirection of marketing budgets towards smarter mobile campaigns.
The company's full enterprise customer suite stood at 25 as of June 30 this year.
With larger enterprises catching onto the power of mobile marketing in recent years, OtherLevels has captured Coles, Ladbrokes, Sega and fellow Brisbane companies Tatts Group and Halfbrick as clients since it began operations in 2012.
Despite the big clients, after-tax loss for the company's 5-month reporting period was $2.39 million, although this was attributable to greater investment in certain divisions of the business such as HR.
OtherLevels CEO Brendan O'Kane (pictured middle) says this investment has recruited staff 'with deep messaging domain knowledge'.
Through this, the company is focusing efforts on developing a broader product range with an edge on others.
"Customer wins should accelerate as the expanded sales team become fully trained and effective," says O'Kane.
"This additional sales capability, together with the broader range of messaging options and new products, means that the company is well placed to achieve its goals in the coming year."
As well, the company sees expansion on the cards in sectors such as travel and hospitality, where membership and loyalty systems evidently provide for continuous contracts.