Hosting provider Bulletproof Group Limited has reported a 29 percent increase in revenue on the back of strong AWS demand.
AWS made up around 17 percent of recurring revenue, with Bulletproof chief executive Anthony Woodward saying he expects that to continue.
"It's growing quite a bit faster than the VMware cloud side of our business," Woodward said today in an investor call.
The result helped push Bulletproof to a strong underlying result in its first year as a public ASX-listed company following a reverse takeover with Spencer Resources Limited.
Revenues were up $4.2 million, to $18.3 million for the 2014 financial year.
While the company reported a loss of $3.1 million after tax, Bulletproof made an underlying profit after tax of $450,000 excluding impairment of historic goodwill and various costs relating to the reverse listing. Last year the company made a loss of $96,000.
Underlying earnings before interest, tax, depreciation and amortisation were up 31 percent to $2.9 million.
Major customer wins during the year included Bauer Media, Racing Victoria, Mazda, Olympus Australia and Moshtix.
Asked about activity from other cloud providers, Woodward said: "Certainly Microsoft have been quite active in the market in talking about the upcoming launch of their Azure cloud in Australia. There's been a date of October, November being kicked around out there. We're certainly in a watch and wait mode as far as that particular platform is concerned."
"At this stage Amazon Web Services has a tremendous lead on the rest of the market which doesn't look like changing in the immediate future."
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