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  • 2 months later...

Net profit for MNF climbed 20 per cent to a record $11.95 million as demand for voice-over-internet network soared. The company has experienced three years of demand growth from blue chip customers such as Skype, Zoom and Google Meet during just a few weeks in March 2020, CEO Rene Sugo said.MNF customer usage data suggests that unified communications as a service (UcaaS) platforms such as Microsoft Teams will be the permanent winners from COVID19, potentially at the expense of Zoom or Slack.

 

Unified comms is the one shooting out of the gates right now, he said. In some ways, when the lockdown happened, people just reached out for whatever they could grab. We saw mobile traffic and audio conferencing traffic go through the roof and of course at collaborative platforms [like Skype and Zoom]. Now as the new normal settles down, we're seeing a lot of IT managers and CEOs going back to their organisations and going, 'how do I improve my business communications to allow working from home or another lockdown?

 

According to Mr Sugo, the post COVID future will be UcaaS, where messaging, video conferencing, voice over internet, collaboration tools and file sharing are offered on one cloud based platform.... From my point of view, everyone will have a UcaaS tool installed on their desktop. What a lot of UcaaS providers are now doing is allowing guest access from people outside your network. So with Microsoft Teams, I can now invite people outside my organisation into a team and video call. So that precludes the need to install other software like Zoom. My prediction is the specialist collaboration providers will eventually be absorbed into the unified all encompassing service providers. .. It is almost like the proof of concept has been successful. Everyone now understands the benefit of having unified comms via my desktop or laptop that I can take to home, work, or travel.

 

The physical internet infrastructure also allows Uber or Lyft customers to call drivers over the internet by connecting a mobile user handset to an online server, before initiating a separate connection to the driver, with both then joined in the cloud. As MNF sits between the two, there is never a connection between the consumer and business. The software provides the counterparties with temporary phone numbers to protect privacy and security. It also lets vehicle traders on carsales.com obtain temporary numbers. Revenue is generated by charging Uber or Carsales for every phone number in their inventories. During financial 2020, MNF's revenue climbed 7 per cent to $230.9 million.

 

Mr Sugo said he viewed MNF as more a software than internet infrastructure company; 85 per cent of the employees in its technology division are software engineers.

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  • 9 months later...

a bit of corporate activity has put a spring back in MNF step

 

Singapore

 

MNF announced in February 2021 that it was conducting final technical trials with several customers, before officially going live in the Singaporean market. Customer technical trials are ongoing and have been successful. The company is now working towards a go-live date of 01 July 2021, pending final regulatory approval.

 

FY21 Earnings Guidance

 

As announced yesterday, the company reaffirmed earnings guidance of EBITDA for the 2021 financial year of $40.0 million to $43.0 million.

 

Business performance in the last quarter has been solid, and after receiving preliminary financials overnight for the month of May, the company now expects FY21 EBITDA to be within the top half of the guidance range provided. This is based on the performance of the company over a number of months including the latest results for May, the business has greater confidence in earnings projections as the end of the financial year approaches.

 

MNF signs term sheet with Vonex (VN8)

 

As announced yesterday, MNF Group has entered into a non-binding conditional term sheet for the sale of part of its Direct Business to Vonex Limited for $31 million. The sale is inline with MNF's strategy to simplify the business, grow recurring revenues and focus on growing the MNF wholesale business, Symbio.

 

Assuming all conditions are satisfied, MNF expects that an asset sale agreement will be executed in July 2021. Conditions to finalising the agreement include: a satisfactory outcome of due diligence on MNF, funding for the transaction being secured and board approval for both Vonex and MNF.

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  • 4 months later...

James Marlay (Livewire Markets): Roger, staying with you, MNF Group, they had a bit of a patchy period, but the latest result came in really at the top end of expectations, and quite a bullish tone from management. Buy, hold or sell?

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Got a strong market position in Australia. Big service providers to people like Teams, Zoom. We’re probably using the MNF software at the moment. We don’t even realise it. As Roger’s alluded to, the ability to take it to Asia, with Singapore being their first launchpad, and they’re just about to launch, that really opens up the Southeast Asia market where there’s no comparable service provider. That’s a huge opportunity. They can bring those relationships that they have with companies like Twilio, Teams and Zoom, and provide those services across several Asian countries in time. So, we think it’s a big opportunity. Founder-led again by Rene Sugo. Good board. We think it’s quite well-positioned for the future.Roger Montgomery (M.I.M) : That is a buy. Management have finally committed to their Asian rollout and that is because a couple of things. Number one, the megatrends in consumer technology that we have all experienced, they demand realtime telecommunication networks, and you have got to connect to that as part of the overall solution. So whether you are working from home or recording a call like this, or you are looking for an Uber, those tools need to find a phone number.

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R.M. : ....So in Australia, if you have done either of those two things, you have already used MyNetFone software. It is taken for granted. It isnot easy. And they do this in Australia, but they have reengineered their software ready to be exported and deployed in new markets. And that is an opportunity that is 20 times bigger than their current market. So for us, it is a buy.

James Marlay: All right. Simon, MyNetFone, are you a buy, hold, or sell? Or do you need the phone a friend?

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Simon Conn (Investors Mutual) : It is a buy. It is a clear buy, James. It is a great business. I think they have really refocused the portfolio of businesses they have had. I mean, they have always had a very strong growing wholesale business in there, which is really the B2B. It is not really understood by the consumer market, but they are one of Australia’s leading telcos because they facilitate the transfer of voice over the internet. As the copper network has been deregistered or wound down, more and more voices are going through the internet.

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SC : Got a strong market position in Australia. Big service providers to people like Teams, Zoom. We are probably using the MNF software at the moment. We do not even realise it. As Roger has alluded to, the ability to take it to Asia, with Singapore being their first launchpad, and they are just about to launch, that really opens up the Southeast Asia market where there is no comparable service provider. That is a huge opportunity. They can bring those relationships that they have with companies like Twilio, Teams and Zoom, and provide those services across several Asian countries in time. So, we think it is a big opportunity. Founder led, again, by Rene Sugo. Good board. We think it’s quite well positioned for the future.

 

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  • 1 month later...

Symbio Holdings Limited (SYM) , formerly MNF Group Limited, is a software company changing the way the world communicates. Symbio's technology replaces old fashioned telecom networks with software, making it faster and easier to deliver modern cloud based communication services, unlocking endless new applications for calling, messaging and phone numbers. They have headquartered in Sydney, owns networks in three countries and employs over 400 staff worldwide.

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Commenting on the name change CEO Mr Rene Sugo said: We are excited to move forward as Symbio, which is an established global brand within the industry and increasingly recognised as a leader in software enabled communications. Our clear path for global expansion, significant momentum in our Singapore operations, and our unified Symbio brand, positively positions us to execute our strategy and growth objectives for 2022 and beyond.

 

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