Advises Growth Across Product Suite
Sydney, Oct 19, 2015 AEST (ABN Newswire) - Leading big data solutions company Invigor Group Limited (
ASX:IVO) ("Invigor") has reported substantial growth across its product suite during recent months.
Highlights:
- Insights Retail achieving impressive growth in customer numbers
- $1m annual recurring revenue from Insights Retail product suite expected by end of Q1 FY16
- Shopping Ninja uptake increasing exponentially
- Pipeline for Insights Visitor continuing to strengthen
- Professional Services revenue growing
INSIGHTS RETAIL
Total customers, including those undergoing short term trials, have risen from three at the end of the June quarter to over 35 in the current quarter. The company expects the number of customers to increase to 50 by end 2015. A number of well-known brands and retailers are now accessing the real-time data on competitor products, pricing, advertising and other market conditions.
Given the growth in new customers expecting to complete trials and convert to full paying customers, Invigor expects that the Insights Retail suite of products will be generating approximately $1m in recurring annual revenue by the end of Q1 FY16. The following graph shows the growth in customers and recurring revenue from Insights Retail.
SHOPPING NINJA
Downloads of the Shopping Ninja plug-in and smartphone application, along with visitor numbers to the website, have both experienced exponential growth.
Downloads of the Shopping Ninja application now total almost 10,000 after sitting at just 2,056 at the end of the June quarter. Similarly visitors to the website have reached over 50,000, a near five-fold increase in just over three months.
Furthermore, many more retailers have signed to become Shopping Ninja affiliates who will pay commissions on sales.
Invigor is very pleased with this increasing uptake in the consumer facing price comparison service.
INSIGHTS VISITOR AND PROFESSIONAL SERVICES
The last month has seen the successful implementation across a number of sites in the Sunshine Coast as well as with a hospitality and events group in Sydney. Interest has grown substantially with a large opportunity pipeline across a broad range of sectors, including retail, government, education, hospitality, events & tourism, transport and corporate. Whilst the sales cycle for Visitor is longer Invigor is confident of some reasonable size contracts by Q2 FY16.
The Visitor team combined with professional services have had a number of good projects approved in principle and the company is expecting some of these contracts to close during this Q4 FY15.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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