Dubber first half FY20 results
We are pleased to report significant growth for the first half of the 2020 financial year. Highlights include a revenue increase of 125% to $4.5 million, a 79% increase in end user subscribers to 122 549, a contracted annualised recurring revenue of $10.66 million, and 123 service provider agreements, of which 65 are now at the billing stage. During this period we also acquired our first Cisco Webex Calling customers and are on track to be listed on the Cisco price list this month, which will allow seamless order entry within the global Cisco partner channel.
Another highlight was signing an agreement with tier 1 US carrier Sprint Corporation. While we are still in the early stages of growth, securing tier 1 global carriers and our revenue demonstrates that our global strategy is delivering high-quality income streams.
A uniquely placed global operation
We have grown our business operations significantly in preparation for future market opportunities: recruiting team members across executive, sales, and product levels. Many of these new staff members worked closely with us in previous roles with major partners, including Cisco, BroadSoft, AT&T and Telstra, and bring with them significant industry experience. We are a global operation, well positioned to enable service providers to capitalise on the valuable asset of voice data. We believe that transcription, which forms that basis of voice AI and analysis, will become an expected standard feature. We are uniquely placed to deliver this capability to service providers.
Second half FY20 outlook
We expect strong growth in the second half of the 2020 financial year. We expect several verticals to reach the revenue generation stage. Now that our platform is embedded in the Cisco order entry system, we believe this will contribute significantly to our ongoing revenue. Last month we signed an agreement with Telstra, making Dubber available to Telstra customers in Australia. We expect this to underpin similar agreements with new carriers in 2020.