“The June quarter was an important quarter in the company’s evolution as we completed the transformation from technology development to a sales focused team with a disciplined technology program aligned to sales and customer requirements. The company has attracted leading technology talent to take control of implementing the existing roadmap, allowing CTO Andras Kristof to focus on the long-term technology leadership and strategy across blockchain, artificial intelligence and machine learning in the freight, cross-border and wider shipping and supply chain environment. The company’s investment in technology has now stabilised and should reduce during the remainder of the year, outside of billable expenditure for customisation and implementation of software to customers. Sales wise, the company has made significant imprints into Singapore, Cambodia, Indonesia and Australia. With Indonesia already operationally profitable, the company is looking forward to a strong finish to the year and our investor group updated on progress as it progresses on MOUs, key deals and revenue milestones”, - says Ed Clarke, Co-Founder & Managing Director
Yojee aims to transform the global logistics industry by providing state-of-the-art technology which empowers shippers and carriers to work together across the entire supply chain. Yojee markets its software and a software-created delivery network across South East Asia and Australia. The company utilises artificial intelligence (AI) and blockchain technology to create a best-in-class solution.
Yojee is pleased to report it has maintained its strong growth trajectory throughout the June Quarter with very positive results in its Software and Freight revenue streams and all associated key metrics.
The company’s delivery Network is expanding within Singapore with more corporate customers joining the Yojee Network, most of which are coming from e-commerce and retail fields. Big senders like Spotlight (announced 15th of June) and One Sports Puma in Australia (announced 27th June) joining the Yojee Network as part of their continued plans to add value to their business model by offering express, same day and next day deliveries.
YOJEE ‘YOUR NETWORK’
With a strong and consistent growth in the number of senders and logistics providers benefiting from the Yojee Network, the company has experienced growth of over 159% when comparing the June and March quarters. The company is beginning to rollout its comprehensive marketing plan and sales program with the view to not only maintain its position but also to expand its growth.
In line with targeted expansion, the Yojee Network has successfully conducted its first Australian interstate delivery with the completed movement of freight between Adelaide, South Australia and Sydney, New South Wales. This represents a milestone in bringing collaborative partners together to coordinate and carry out domestic movements across Australia.
With Yojee currently performing Express, Same Day, Next Day and time slotted deliveries in its ever-growing Singapore market; the Australian trial is further proof of the transferable nature of the platform that can be offered anywhere with a minimum of fuss and low manpower requirements.
One Sports PUMA and Popink/Flybuys’ MOUs provide the opportunity to deliver around 300,000 parcels a year through the Yojee Australian network which would equate to over $2,000,000 in freight revenue. Yojee believes it is in a strong position to convert these MOUs with its ability to provide both cost benefits and nationwide, seamless real-time tracking and accurate delivery windows advice to customers, an industry breakthrough.
YOJEE ‘YOUR SOFTWARE’
Yojee Software revenue shows the growth of 53% on its Software as a Service monthly recurring revenue business. The company has a robust sales pipeline and with the likes of Popink/Flybuys, contracts signed with Cargone and Holiday Couriers, recurring monthly revenue from Yojee Software.
The company did not focus on software in sales in the June quarter as it focused on product refinement and network revenue growth. The company plans to turn the focus back to software sales for the remainder of the year, with a pleasing customer pipeline and the ‘bonus’ of access to new revenue through delivery opportunities from the ever growing Yojee ‘Your Network’.
Yojee is a publicly-listed company. See our up-to-date ASX announcements here.