SLI Systems Hopeful as Losses Narrow and Revenue Grows
June 14, 2016
The article titled SLI Systems Narrows First-Half Loss on Scoop reports revenue growth and plans to mitigate losses. SLI Systems is a New Zealand-based software as a service (SaaS) business that provides cloud-based search resources to online retailers. Founded in 2001, SLI Systems has already weathered a great deal of storms in the form of the dot-com crash that threatened to stall the core technology (developed at GlobalBrain.) According to a statement from the company, last year’s loss of $502K was an improvement from the loss of $4.1M in 2014. The article states,
“SLI shares have dropped 18 percent in the past 12 months, to trade recently at 76 cents, about half the level of the 2013 initial public offering price of $1.50. The software developer missed its sales forecast for the second half of the 2015 year but is optimistic new chief executive Chris Brennan and Martin Onofrio as chief revenue officer, both Silicon Valley veterans, can drive growth in revenue and earnings.”
The SLI of SLI stands for Search, Learn and (appropriately) Improve. The company hopes to achieve sustainable growth without raising additional capital by continuing to focus on innovation and customer retention rates, which slipped from 90% to 87% recently. Major clients include Lenovo, David Jones, Harvey Norman, and Paul Smith.
Chelsea Kerwin, June 14, 2016