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Tesserent posts $1.3M loss as partner program ramps up

Tesserent posts $1.3M loss as partner program ramps up

The company also built out its CyberBiz Channel Partner Program

Australian managed IT security provider, Tesserent (ASX:TNT), has posted a $1.3 million net after-tax loss (NPAT) for the six months ending 2017, despite seeing revenues increase year-on-year by almost five per cent during the period.

The publicly-listed company, which counts which counts Palo Alto Networks, AlienVault, Kaspersky Lab and Cisco among its vendor partners, pulled in $2.6 million in revenue during the period.

In February, Tesserent revealed it had signed Sophos as yet another integration partner within its growing vendor ranks.

During the half-year, the security-as-a-service company also launched CyberBiz, its small- to medium-sized business (SMB)-focused managed security service, targeting more than two million SMBs in Australia.

As part of the launch of the new service, Tesserent kicked off its own associated CyberBiz Channel Partner Program, signing five new channel partners during the period.

While the company reported a net after-tax loss during the period, it was less than the $1.5 million loss it reported the same period the year prior.

“The past six-month period has been very exciting for Tesserent, as we’ve executed our product development and go-to-market strategy for CyberBiz,” Tesserent CEO, Keith Glennan, said.

“CyberBiz is a robust and unique managed service offering for SMBs, at a price-point that makes it affordable for all small businesses and even sophisticated home users. We are very pleased to be addressing the sizeable and under-serviced SMB market with such a strong offering."

In June last year, Tesserent said it was making a push into the small to SMB market after striking a new channel deal with a Sydney-based Telstra licencee.

Tesserent told shareholders on 28 June that it had signed a memorandum of understanding (MoU) to pilot its new managed service offering with select Telstra Business Centres, initially in Sydney.

The MoU agreement itself was inked with Mook Investments, a Telstra licencee trading as Telstra Business Centre Homebush.

The deal saw the Melbourne-based cyber security company partner with the licencee in a bid to launch the new managed security service offering, CyberBIZ, via the company's business services operation.

According to Tesserent, the partnership represented the first step towards delivering its management SMB cybersecurity offering nationally via a major telco channel partner.

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Tags Telstraciscosophospalo alto networkskaspersky labAlienVaulttesserent

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