SenSen Networks focused on scaling rapidly as it develops new applications and targets new markets
- SenSen Networks achieves record annual revenue of $5.5 million; focus remains on organic growth and acquisitions
- SenSen Networks to focus on scaling rapidly as it sets out targets over the next five years
- SenSen Networks records highest cash receipts since listing on ASX
Quick facts: SenSen Networks Ltd
Price: 0.14 AUD
Market Cap: $78.04 m
About the company
SenSen Network Ltd (ASX:SNS) is focused primarily on the development, commercialisation and supply of innovative, data-driven business process enhancement solutions.
The company’s software combines enterprise video and sensor data acquisition, data fusion and IoT and Big Data analytics into a highly scalable and configurable platform that allows customers to improve the speed and accuracy of their decisions.
SenSen’s R&D and sales teams in Melbourne are supported by an Indian team providing administrative and back-end support and services, including, software testing, quality assurance and customer support.
How it is doing
This places the company in a strong position for continued success in FY22 as the focus remains on organic growth and acquisitions.
SenSen concluded the financial year for 2021 in a strong cash position, posting $5.2 million in cash and cash equivalents with unused finance facilities available of $1.8 million.
The company’s annual recurring revenue (ARR) (unaudited) profile continued to grow throughout the financial year with customer renewals and many new customers moving to utilise its software and services across new and established territories.
The technology company, which operates the SenDISA software platform, acquired artificial intelligence (AI) solutions provider ScanCam Industries Pty Ltd during the June quarter, adding a suite of new clients to the SenSen portfolio.
This strategic acquisition will enable SenSen to launch its solutions into the retail business vertical starting with Scancam’s current client portfolio of national fuel retailers, such as BP plc (LON:BP), Ampol Ltd (ASX:ALD) and Chevron Corporation (NYSE:CVX).
Insight: SenSen Networks to focus on scaling rapidly as it sets out targets over the...
The world-leading artificial intelligence (AI) solutions provider has outlined its near-term, medium-term and long-term plans that will see it develop new applications and open new markets above and beyond its target markets.
What management says
SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF)'s CEO Dr Subhash Challa tells Proactive the company ended the June quarter with A$1.6 million in cash receipts - the best result since its listed on the ASX. Looking ahead, SenSen has updated its revenue guidance for FY22. It expects to bring in more than A$11 million over the current financial year — potentially doubling the FY21 result.
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