Brisbane-based telecommunications provider Over The Wire is off to a strong start in its first year as a public company, growing revenue by 46 percent to reach $23.6 million.
EBITDA was up from $3.5 million to $5.4 million for the 12 months to 30 June, an increase of 54 percent. Net profit was also up from $1.9 million to $2.8 million, a 45 percent growth.
The company listed on the Australian Securities Exchange in December 2015.
Growth was attributed to multiple acquisitions before the public listing, including Gold Coast-based VoIP business Faktortel for $3.6 million and Brisbane-based data centre and enterprise hosting business Sanity for $5.2 million.
In March, Over The Wire acquired Brisbane service provider Spiderbox for $700,000, bringing on 100 new business customers along with nine staff. The acquisition also gave Over The Wire access to Spiderbox's fibre network in the Brisbane Technology Park, and an additional $1.2 million in annualised EBITDA.
All of Over The Wire's business units grew in revenue. Its biggest earner, data networks, generated $10.4 million revenue, cloud and managed services achieved $2.6 million revenue and co-location hit $2.5 million revenue. Voice was the biggest change, growing 88 percent to $7.8 million.
Chief executive Michael Omeros said: "Our positive overall performance has been delivered through excellent growth across all of our product lines. We have again achieved strong organic growth and our pipeline is expanding well through our sales and marketing initiatives."
Over The Wire shares closed at $2.65 on Friday 26 August, up from $1 when the company listed eight months ago.
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