AI assistant
PENTANET LIMITED — Capital/Financing Update 2021
May 31, 2021
64260_rns_2021-05-31_7ee7b113-4db9-493a-aa3b-7e613aba3c55.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX: 5GG | ASX ANNOUNCEMENT BUSINESS UPDATE: 31 MAY 2021
==> picture [85 x 40] intentionally omitted <==
==> picture [595 x 4] intentionally omitted <==
PENTANET DELIVERS ON TELCO & CLOUD GAMING GROWTH
Pentanet Limited ( ASX:5GG , Pentanet or Company ) is pleased to provide an update on its business operations with strong growth continuing in fixed wireless subscriptions, and updates on the commercial launch of GeForce NOW cloud-based game streaming service powered by Pentanet.
INTERNET SERVICES
Active customers exceeded 12,000 in May 2021. This represents new growth of 9.2% since the Company's Q3 2021 result announced on 31 March 2021. Active Fixed Wireless subscribers have now surpassed 5,000.
Of the new 1,277 customers added in the two-month period since 31 March 2021, 586 were new Fixed Wireless customers, showing further growth in the on-net run rate. The new off-net customers reflect the increasing awareness of the Pentanet brand in new catchment areas outside the Company's existing Fixed Wireless network, and presents further opportunity to convert subscribers to on-net connections with the future growth of the Fixed Wireless network capability.
CLOUD GAMING SERVICES - GEFORCE NOW
Market interest in GeForce NOW, NVIDIA's premiere cloud-based game streaming service powered by Pentanet, continues to exceed initial expectations. As per the Company's announcement on 26 February 2021, an expanded hardware order was placed with NVIDIA for 18 RTX game servers (up from 12 servers).
Given the increased size of the initial pilot deployment, Pentanet and NVIDIA will soon confirm a new commercial launch date extending beyond 31 May 2021.
With current registrations of interest now exceeding 45,000, Pentanet has shifted focus from pre-marketing to beta play and national release. Based on the existing level of user interest, the Company’s intended pilot program is expected to be oversubscribed.
ESPORTS - PENTANET.GG
Pentanet.GG (PGG), the Company's esports arm, continues to successfully build awareness of gaming and esports in the Australian ecosphere. PGG made history as the first Australian esports team to progress past the Group stages in an international League of Legends tournament, placing sixth in the world at the recent Mid-Season Invitational tournament in Iceland.
League of Legends is one of the world’s most popular esports titles, with 61 million tournament hours watched globally for the 2021 Mid-Season Invitational. 5.3 million of these hours featured PGG, with an average of 655,166 average concurrent viewers per PGG match (851,000 peak viewership).
Pentanet.GG is a key targeted marketing initiative that has been highly successful in establishing Pentanet as a trailblazing brand in the emerging gaming and esports market in Australia and New Zealand. Tournament prize winnings and merchandise sales also help support the cost of this initiative.
Pentanet Managing Director, Mr Stephen Cornish, said that Pentanet's continued strong customer growth shows the company is tapping into the demand it has identified for fast, reliable internet service with local support.
"The Pentanet team are now demonstrating the superior performance and economics of the Fixed Wireless network we have built, however we are more excited to reveal the capability of the wireless network we are building for tomorrow, and the future that will bring together with cloud gaming.”
[email protected] Unit 2, 8 Corbusier Place, +61 8 9466 2672 Balcatta WA 6021
ABN: 29 617 506 279
This announcement has been authorised for release by the Managing Director of Pentanet Limited, Mr Stephen Cornish.
| FOR FURTHER INFORMATION, PLEASE CONTACT: | FOR FURTHER INFORMATION, PLEASE CONTACT: | |
|---|---|---|
| Mr. Stephen Cornish | Mr. Patrick Holywell | Mr. Shane Murphy |
| Managing Director | Company Secretary | Media Relations, FTI Consulting |
| +61 8 9466 2672 | +61 (0) 401 407 357 | +61 (0) 420 945 291 |
| [email protected] | [email protected] | [email protected] |
About Pentanet
Pentanet is a Perth-based, growth-focused telco delivering high-speed internet to a growing number of subscribers by providing them with next-generation internet speeds. This is achieved through Pentanet’s market-leading private fixed-wireless network, the largest in Perth, as well as reselling fixed-line services such as NBN, where its wireless is not yet available.
Pentanet’s flagship fixed wireless network has benefits for both customers and investors, offering an outstanding customer experience and a fixed-wireless product that is technically superior to most of the NBN – with attractive margins for investors. This sets Pentanet apart from most broadband providers, which only resell the NBN.
Pentanet will also be part of the rollout of the next wave of subscription-based entertainment services – cloud gaming. The Company’s Alliance Partner Agreement with NASDAQ listed NVIDIA – one of the world’s largest producers of specialised graphic chips used in gaming – allows Pentanet to be the first to bring their GeForce NOW technology to Australia in 2021.
Pentanet was listed as #28 in the Deloitte Technology Fast 500[TM] Asia Pacific 2020, a ranking of the region’s 500 fastest growing technology companies. On top of the Company's #28 overall ranking, Pentanet also ranked #3 for Australian companies on the list.
==> picture [114 x 23] intentionally omitted <==
Unit 2, 8 Corbusier Place, Balcatta WA 6021
[email protected] +61 8 9466 2672
ABN: 29 617 506 279