I-ON Communications Corp. announced revenue results for the third quarter ended September 30, 2018. Total revenue grew 43% q/q during the period to $1.87 million compared to $2.24 million in the same period for the previous year and was of comprised primarily of CMS related customized solutions and services both domestic and from Japan (53% of total), royalty and subscription contribution primarily out of SE Asia (6% of total) and maintenance/SI revenue across all geographies (37% of total). While the y/y declines continued to reflect the company´s larger focus on driving newly launched product and solutions sales (such as TAMM/sports ICT and SaaS in Singapore/SE Asia), revenue recognition and implementation delays experienced in the first half of the year were partially made up for during the September period as expected, helping fuel the q/q growth.

The company's current 2018 pro forma revenue guidance of $15 million, which assumes the consummation of at least one acquisition in the current half of 2018, remains the company's goal, though the Company acknowledges that organic growth y/y is likely to be flat due to overall market conditions and sustained volatility, which has the potential of carrying over certain engagements into early 2019.