archTIS records strong revenue growth; wins new contracts
Published: 20:39 30 Jul 2024 EDT
archTIS Ltd managing director and CEO Daniel Lai sits down with Proactive’s Jonathan Jackson to discuss the latest quarter. For FY24, the company reported a 54% increase in annual revenue, with licensing revenue rising by 58%. Gross margins improved to 60% and gross margin dollars grew by 79%. Operating expenses decreased by 18% and the company generated positive operating cash of $1.4 million, marking a significant improvement from the previous year's outflow. Annual Recurring Revenue (ARR) reached $4.1 million, up 13% from the previous year.
The company secured new contracts with key clients including the Australian Department of Defence, Penten and various global defence suppliers. Notable deals included a $264,000 annual recurring revenue licence fee with Penten and a $775,000 licence renewal with the Australian Department of Defence.
archTIS also retained and expanded its customer base, achieving net revenue growth of 104%. The company appointed Andrew Burns as chief financial officer and co-secretary. Additionally, archTIS won two CyberSecurity Excellence Awards and announced Copper River Technologies as a new US Federal partner.
