SenSen Releases Impressive Preliminary Financial Report for FY20

August 31, 2020 03:20 PM AEST | By Team Kalkine Media

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SenSen Networks Limited (ASX: SNS), a leading AI-Powered Smart City Solutions Provider unveiled preliminary financial report for the twelve months ended 30 June 2020 with a bolstered cash position of AU$2.46 million in comparison to AU$1.97 million in FY19.

Other key highlights for the last twelve months to 30 June include the following:

SenSen’s revenue noted a marginal upsurge of 1% and stood at AU$3.73 million.
The Company noted a substantial increment of ~33% (y-o-y) in the annual recurring revenue (ARR) and was recorded at ~AU$2 million.
SNS recorded loss from after- tax attributable to members of AU$3.89 million for FY20 as compared to AU$5.28 million for FY19.

Furthermore, SenSen projects ARR to continue the strong momentum FY21, in the order of ~75% to ~AU$3.5 million.

Notably, confirmed overall contracted revenues of ~AU$5.6M for FY21, additional contract wins, swelled sales demand for Gemineye in FY21 are likely to enhance the profitability going forth.

SenSen did not face any material disruptions or deferrals to customer deliveries during COVID-19, despite 90% of staff working remotely.

On 31 August 2020, SNS was trading at AU$0.100, up by 8.696% at 02:54 PM AEST.

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