Tesserent Limited (ASX:TNT) has provided its quarterly cash report and business update of its activities and achievements for Q2 FY2021 ended 31 December 2020.
- Sales increased by 41.7% to A$21.4 million as compared to Q1 FY2021.
- EBITDA grew by 248% to A$1.4 million QoQ.
- Customer receipts during the quarter increased by 38% to A$20.6 million.
- TNT received more than A$3.5 million from the conversion of options and warrants.
- Net cash available with TNT by the end of Q2 FY2020 was A$7.9 million.
- During the quarter, the Company was included in All Tech Index based on the strong overall market performance during 2020 coupled with significant growth across the Group.
- TNT also announced the strategic acquisition of New Zealand-based Lateral Security together with the Optic Security joint venture. These represent TNT’s first step towards its entry in the NZ cybersecurity market.