Activeport Q4 revenue reaches $1.5M

·       Activeport reported a total quarterly revenue increase of 2% quarter-on-quarter to reach $1.5 million for the fourth quarter.

·       The company's share price performance following the update was not specified in the recent financial disclosures.

·       Management noted that ongoing software and recurring revenue growth initiatives are driving these quarterly financial results.

Activeport (ASX:ATV) announced that its total revenue for the fourth quarter reached $1.5 million, representing a 2% increase compared to the previous quarter.

This recent performance follows previous quarters where the business focused on expanding its software and network orchestration capabilities.

The company stated that software as a service revenue grew by 12% quarter-on-quarter to reach $1.3 million.

Recurring revenue also experienced growth, rising 5% quarter-on-quarter to account for 84% of the total revenue mix.

Following the announcement, the Activeport share price was unchanged at $0.014.

Activeport continues to focus on deploying automated networking solutions and software products to telecommunications providers and data centres globally.