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MGM Wireless Limited Announce 2019 Full Year Results

SPACETALK DELIVERS RECORD SALES GROWTH

Key Highlights
2019 Full Year Results SPACETALK DELIVERS RECORD SALES GROWTH

  • Total Revenue grew +161% to $7.1m*
  • SPACETALK sales up +933% to $4.6m
  • SPACETALK unit sales up +1,023% to 18,270
  • Cash at 30 June 2019 of $1.6 million
*all figures compare FY2019 with FY2018 unless otherwise indicated.

22 August 2019 – Technology company MGM Wireless Limited (ASX:MWR) (‘MGM’ or ‘the Company’) today reports full year results for the period ending 30 June 2019 (“FY19”).

MGM Wireless CEO Mark Fortunatow said: “This was an outstanding result with sales of our SPACETALK smartwatch, mobile phone and GPS device increasing from 1,785 units in FY18 to 18,270 units in FY19. Total revenue grew 161% from $2.7 million to $7.1 million, as the rollout of SPACETALK gathered significant momentum with the signing of additional major international retail distribution agreements.

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