MPHASE PROVIDES OPERATIONAL UPDATE INCLUDING CONTINUED GROWTH IN LEARNING TRACK BUSINESS

Gaithersburg, MD, Oct. 13, 2020 (GLOBE NEWSWIRE) — mPhase Technologies, Inc. (OTCQB: XDSL) (“mPhase” or the “Company”) is providing the following update on new technology and business improvements at its Learning Track division. As a reminder, in 2019 Learning Track introduced a Learning Management System (“LMS”) platform that has enabled mPhase to become one of the fastest growing public companies in the LMS space and has contributed a majority of Company revenue to date, accounting for a quarterly revenue increase from $2.5 million in Q4 2019 to approximately $7.6 million in Q3 2020, which also marked the first profitable quarter in Company history. mPhase has guided to over $30 million in trailing-twelve-month revenue for fiscal year 2020.

The Company spent the last few quarters developing additional technology that it believes will increase the attractiveness of the Learning Track platform. New and upcoming enhancements include:

  • An updated User Interface (“UI”), which
Read More