Spirit Telecom has reported strong revenue growth despite the COVID-19 pandemic following its aggressive growth through acquisitions and organic revenue.
The company did not reveal full year revenue but its FY2020 second half raked in $22.4 million in revenue, up 80 percent from the previous year.
The growth was also buoyed by a strong Q4, posting $11.9 million in revenue for the period, a 133 percent increase from the previous year. It also represents a 14 percent increase from Q3, when the company brought in $10.5 million.
Spirit also revealed its Trident Technology Solutions business had contributed $2.2 million for the month of June alone, despite usually having historically seasonal highs between November to January.
The B2B business contributed $19.4 million in H2, now accounting for 90 percent of total revenue and a 105 percent increase from H1, and a 205 percent increase from H2 2019.
Spirit Telecom managing director Sol Lukatsky said, “Over the course of the past year Spirit has evolved to become a modern telco, from solely being focused on high-speed internet to now providing a complete offering across telco, internet, cloud, IT managed services and cyber security.”
“Our proven ability to identify right-fit acquisition targets, pay fair value and importantly integrate these skilfully and quickly – coupled with our expertise in sales and marketing – has been integral to our growth.”
Lukatsky added that the acquisitions Spirit made has enabled the company to “create a truly contemporary and customer relevant” telco and IT company for Australian businesses.
“Our ability then to bundle the telco and IT products that a business needs and provide outstanding customer service resonates with our target clients and has underpinned our organic growth during COVID,” he said.
“With the added expansion of our network of the Spirit Solution Partners nationally reselling our products, following our most recent acquisition of VPD, we enter FY21 with a solid platform for further growth organically and via a healthy pipeline of acquisition options.”
Ahead of the full FY2020 results, Spirit anticipates that underlying EBITDA will be in the range of $3.5 million to $3.8 million.