Bulletproof FY16 Update: Acquired Infoplex, Raised $3.8m, Over-Subscribed Share Purchase Plan

Bulletproof Group Limited (Bulletproof – ASX code BPF) enjoyed a very active FY16. The Company successfully acquired Infoplex in October 2015 for $3.55m, following a capital raising of $3.8m. A Share Purchase Plan in November was over-subscribed and raised a further $2m. The Company completed its acquisition of New Zealand AWS partner Cloud House in February 2016. 1H16 results included 90% revenue growth year on year, with strong underlying profitability growth compared with 1H15.

A new Melbourne office was opened in September 2015, and a new Sydney CBD office in June 2016, consolidating personnel from acquisitions and existing Rosebery offices.

Bulletproof was recognized as Frost and Sullivan’s Managed Service provider of the year 2015, in November. Bulletproof presented with major client Crownbet at the AWS Summit in April 2016, demonstrating the key value Bulletproof delivers for customers.

Bulletproof also presented at the AWS summit Auckland in June 2016, co-presenting with customer Xero on cloud security best practices. These awards and events reflect Bulletproof’s status as the leading end to end cloud services provider in Australia and NZ, and the only AWS Premier Consulting Partner across both countries.

Bulletproof’s FY16 guidance indicates revenue growth of 67% year on year to $47m, with underlying EBITDA expected to be between $4.6m and $4.7m (up from $4.2m in FY15), and EBIT between $600k and $700k, slightly down on FYs $850k, attributed to some customer-side delays in project work reducing profitability towards the end of the half. Customer wins throughout the year included Barbecues Galore, Nestle Australia, Minter Ellison and Fred Hollows Foundation.

ABOUT BULLETPROOF 

Bulletproof Group Ltd (ASX:BPF) is a publicly listed company with offices in Sydney, Melbourne and California. Founded in 2000, Bulletproof is the leading cloud services provider to business, enterprise and government customers.

Bulletproof has consistently been first to market with public and private cloud based services and innovations, including to launch a public cloud service in Australia and the first to launch a managed Amazon Web Services (AWS) offering. Bulletproof became an AWS Premier Consulting partner in 2013 and was re-certified in 2014. Bulletproof’s recent acquisition in the Cloud Consulting space has further enabled the company to help companies leverage the cloud as they disrupt their market, by simplifying the complexity of cloud and enabling its customers’ rapid transformation.