archTIS records strong quarterly sales and new defence contracts
Published: 21:36 31 Oct 2024 EDT
archTIS Ltd managing director and CEO Daniel Lai joins Proactive’s Tylah Tully to talk through the company’s strong financial performance for the first quarter of FY 2025.
Quarterly sales reached A$3.8 million, largely bolstered by a A$2.3 million licensing deal with the Australian Department of Defence for expanded NC Protect licensing to strengthen data security.
Total revenue stood at A$1.45 million, with A$950,000 from licensing and A$500,000 from services, yielding a gross profit of A$1.1 million and a 75% gross margin.
Annual recurring revenue increased 16% year-over-year, reaching A$3.96 million. The company reduced operational expenditure by 5% to approximately A$650,000 per month and further improved cash flow in October with A$3 million in collections.
Additionally, archTIS secured a non-dilutive funding expansion to A$3.5 million from the Commonwealth Bank of Australia (ASX:CBA) and expects a tax refund of A$1.9 million.
Product innovation included the launch of Trusted Data Integration (TDI) for secure, large-scale structured data management.
Contracts with the Australian Department of Defence, BGW Germany, an Australian university, and a European bank underscored archTIS’s growing global reach.
