MGM Wireless Rises 20% After 35% Hike Yesterday

echnology scan man's hand for security or identification.Hand with scanner and computer interface

MGM Wireless Ltd [ASX:MWR] shares are up another 20% today to $1.10, after they rose 35% yesterday to $0.91. It’s a great result for the Adelaide-based tech company, which supplies student information platforms for schools, students and parents.

MGM Wireless introduced its SMS absence messaging technology to schools in 2002. The firm’s technology now connects over 1,200 schools and more than 1.6 million parents and students across Australia, New Zealand and the US.

In Australia, Education Departments in WA, NT, QLD and NSW use MGM for their school communication, parent engagement and student attendance management needs.

Back in September 2017, MGM’s shares soared a meteoric 70% from $0.25 to $0.61 on the back of a deal with The Western Australian Department of Education.

Two of MGM’s products — School Star and Outreach+ — were implemented across over 800 Western Australian public schools from the beginning of term four last year.

What’s School Star and Outreach+?

School Star is a Facebook-like app that provides access to registered parents and carers. Functions supplied through the app include announcements and absenteeism alerts. This is integrated with Outreach+, which provides a back-up SMS service for parents who haven’t installed School Star.

MGM Wireless also launched its Spacetalk smartwatch late last year, under the AllMyTribe banner. Spacetalk is a 3G mobile phone, GPS tracker and watch, all in one.

Children can make and receive calls from a set of up to 20 contacts chosen in the AllMyTribe smartphone app. There is also a special SOS alert function that can be customised to call parents, and a GPS tracker to provide a child’s location via your smartphone.

The watch is perfect for children deemed too young for the complexity and cost of a smartphone, giving parents the peace of mind that they can contact their children at all times.

MGM Wireless became a publicly listed company in 2003, with initial revenue of $47,374. That jumped to $406,428 in 2004 and $1,079,960 in 2005.

In 2015 the company’s revenue came in at $3,867,822, with company profits exceeding $1 million for the first time at $1,041,780. MGM currently has a market capitalisation of $8.762 million.

While MGM may be a hot small-cap tech prospect at the moment, Australian mining stocks are also tipped to be back in a big way this year. Check out Jason Stephenson’s free report, ‘The Top 10 Mining Stocks in Australia for 2018’ now.

Regards,

Ryan Clarkson-Ledward,
For Markets & Money

 

Ryan Clarkson-Ledward

Ryan Clarkson-Ledward

Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers.

Ryan Clarkson-Ledward

Latest posts by Ryan Clarkson-Ledward (see all)

Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz
Letters will be edited for clarity, punctuation, spelling and length. Abusive or off-topic comments will not be posted. We will not post all comments.
If you would prefer to email the editor, you can do so by sending an email to letters@marketsandmoney.com.au