Proactiveinvestors Australia SenSen Networks Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia SenSen Networks Ltd RSS feed en Mon, 22 Apr 2019 21:03:01 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - SenSen Networks posts steady growth in December quarter ahead of global expansion ]]> https://www.proactiveinvestors.com.au/companies/news/213680/sensen-networks-posts-steady-growth-in-december-quarter-ahead-of-global-expansion-213680.html SenSen Networks Ltd (ASX:SNS) earned more than $527,000 in revenue and $517,000 in cash receipts during the December 2018 quarter, driven by steady growth in its intelligent transportation systems business.

Revenue and cashflow comprised revenue from software-as-a-service (SaaS) licensing arrangements with existing customers in Australia and overseas.

The company had more than $4 million cash on hand at the end of the December quarter.

New agreements for parking software solution

Revenue growth came partly from an expansion of non-government clients, with SenSen signing two new agreements in Canada through the Calgary Parking Authority (CPA).

Participation in global trials and tenders is continuing, with 13 Australian businesses and municipalities expressing interest in trialling SenSen’s parking technology.

The new agreements with the CPA, which are now installed, will generate revenue of $138,000 for SenSen in financial year 2019 for systems, software licensing and commissioning.

They will also generate about $28,500 per annum in maintenance in subsequent years.

Additionally, SenSen continues to participate in proof-of-concept (POC) trials and tender processes, both directly and through channel partners like the CPA.

Conference participation drives prospective opportunities

In mid-September 2018, SenSen won the “Best in Show” award for its conference display at the Canadian Parking Association Conference and Trade Show in Toronto.

The conference featured artificial intelligence and machine learning as a key theme in the future of parking.

SenSen’s leadership in this area generated several prospective opportunities for the company, including in Toronto, where multiple projects are being considered by the government authority.

Momentum for these discussions is expected to accelerate after SenSen’s presentation of its soon-to-be launched disruptive parking software solution at the upcoming Parking Industry Expo held in Chicago in March.

READ: SenSen Networks secures casino distribution agreement for its SenGAME software

POC trials of SenSen’s gaming solution in casinos in the UK, Macau, Australia and the Philippines have progressed and moved into casino gaming floor trials.

SenSen expects SenGAME licence agreements to be executed with the casinos after these trials conclude.

The company has engaged in discussions with an additional 12 casinos for potential implementation of trials across their operations.

In late December, SenSen began pre-POC trial activities for a casino in Canada and the US, likely being the first direct customers in the North American market.

Along with previously announced distribution agreements with Cammegh Limited and eConnect Global, SenSen is continuing negotiations with distribution partners to enter into value-added reseller agreements for the marketing and sale of SenGAME globally.

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Thu, 31 Jan 2019 01:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/213680/sensen-networks-posts-steady-growth-in-december-quarter-ahead-of-global-expansion-213680.html
<![CDATA[News - Sensen Networks secures casino distribution agreement for its SenGAME software ]]> https://www.proactiveinvestors.com.au/companies/news/206735/sensen-networks-secures-casino-distribution-agreement-for-its-sengame-software-206735.html Sensen Networks Ltd (ASX:SNS) has executed a distribution agreement with eConnect Global to market its SenGAME software solution to eConnect’s customer base.

With offices in Las Vegas and Macau, hundreds of large enterprises including casinos, resorts, nightclubs, restaurants, stadiums, and airports utilise eConnect’s fraud prevention technology.

Working with eConnect, SenSen will install its SenGAME software on the table-game floor of an agreed customer, which will analyse table occupancy, hands dealt per hour, bet types and bet values across the gaming floor.

 

 

The agreement envisages rolling out SenGAME in an initial casino operation, ahead of a broader marketing and sales distribution agreement.

SenSen chief executive officer Subhash Challa said: “eConnect is a casino industry leader with its fraud detection and prevention software assisting casinos optimizing their operations around the world.

“The addition of our real time SenGAME software to the eConnect offering will provide a next-level optimisation tool for customers.

READ: SenSen Networks doubles annual revenue for the fourth consecutive year

“The eConnect Agreement is SenSen’s second distribution arrangement and will further facilitate rapid adoption of SenGAME in the industry.

“We look forward to working with the eConnect team to roll out our cutting-edge automated video and software solution to assist in providing operators with highly valuable and accurate analytics.”

 

SenSen and eConnect are attending the 2018 Global Gaming Expo (G2E) being held in Las Vegas from 8-11 October, where delegates will experience SenGAME in operation firsthand.

eConnect is showcasing the SenGAME software at its booth and will be marketing directly to its customer base of behalf of SenSen.

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Wed, 10 Oct 2018 13:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/206735/sensen-networks-secures-casino-distribution-agreement-for-its-sengame-software-206735.html
<![CDATA[News - SenSen Networks doubles annual revenue for the fourth consecutive year ]]> https://www.proactiveinvestors.com.au/companies/news/200161/sensen-networks-doubles-annual-revenue-for-the-fourth-consecutive-year-200161.html SenSen Networks Ltd (ASX:SNS) has generated record sales revenue of a minimum of $4.04 million for the 2018 financial year.

The revenue growth comes off the back of new client contracts and existing recurring revenue in Australia and overseas, with the biggest contribution occurring in the last quarter.

Strong pipeline of ITS and gaming sector clients

The trend is expected to continue in the year ahead, with revenues expected from a strong pipeline of new potential clients and recurrent revenue in both the intelligent transport systems and gaming sectors, as well as from software-as-a-service licence arrangements with existing clients.

With the ability to rapidly deploy projects with larger up-front and development costs, higher revenue ITS and casino contracts are planned for 2019.

WATCH: SenSen Networks deploying breakthrough technology on multiple fronts internationally

Sensen chief executive officer Subhash Challa said the company had worked hard to achieve the revenue milestone.

Challa said: “We will be continuing to aggressively execute our business model, working with new and existing customers, so that the trend may continue in 2019 and beyond.”

Following a $5 million capital raising in May, SenSen has engaged in several business development and marketing activities, including identification of individuals to represent it in jurisdictions where it is growing its global footprint.

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Thu, 05 Jul 2018 01:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200161/sensen-networks-doubles-annual-revenue-for-the-fourth-consecutive-year-200161.html
<![CDATA[Media files - SenSen Networks deploying breakthrough technology on multiple fronts internationally ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9558/sensen-networks-deploying-breakthrough-technology-on-multiple-fronts-internationally-9558.html Wed, 13 Jun 2018 12:52:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9558/sensen-networks-deploying-breakthrough-technology-on-multiple-fronts-internationally-9558.html <![CDATA[News - SenSen Networks secures new funding and wins $2 million contract ]]> https://www.proactiveinvestors.com.au/companies/news/197239/sensen-networks-secures-new-funding-and-wins-2-million-contract-197239.html SenSen Networks Ltd (ASX:SNS) has received binding applications to raise $5 million through the issue of 34.48 million shares priced at 14.5 cents.

The placement was oversubscribed and supported by a large number of domestic institutions and existing sophisticated investor shareholders.

New funding to expand business

Funding will be used for business development and marketing activity including the hiring of new staff to grow SenSen’s global footprint.

These new staff will engage with SenSen’s target city councils and casinos customer list to drive new high-value contracts.

Funding will also be used for upfront and ongoing project development costs as well as to facilitate the faster deployment of higher revenue contracts.

SenSen listed on the ASX in October 2017

SenSen’s CEO Subhash Challa said: “The company has executed on the business plan outlined prior to the IPO in late 2017, and the exceptional investor demand generated through this placement represents an endorsement of SenSen’s future growth strategy.

“These new funds will empower the company to aggressively drive revenue in its target markets, not just for 2019, but for longer-term growth in 2020 and 2021.”

$2 million contract with City of Edmonton

SenSen has also secured a C$1.94 million (~A$2.01 million) multi-year contract with the City of Edmonton, Canada.

Commencing in late May 2018, the contract covers Edmonton’s purchase of five SenFORCE mobile parking enforcement units and 19 fixed systems for four Council car parks.

The City of Edmonton contract is the latest addition to a growing list of international government contracts won by SenSen to provide world-leading Intelligent Transport Systems (ITS) solutions.

SenSen has now deployed proven, patented, world-leading Smart City-related solutions in Australia, Canada, Singapore, Europe, India and UAE.

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Fri, 18 May 2018 11:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197239/sensen-networks-secures-new-funding-and-wins-2-million-contract-197239.html
<![CDATA[News - Sensen Networks to apply smart city solutions software in New York City ]]> https://www.proactiveinvestors.com.au/companies/news/193508/sensen-networks-to-apply-smart-city-solutions-software-in-new-york-city-193508.html Sensen Networks Ltd (ASX:SNS) has launched its smart city solutions in the US through an agreement with Silicon Harlem LLC to enhance technology infrastructure in New York City.

A teaming agreement will see the parties jointly investigate potential business opportunities associated with Advanced Technology Corridors in Harlem borough.

They will develop technology solutions to undertake trials for commercialisation and deployment.

Ensuring state-of-the-art technology infrastructure

Silicon Harlem is working on projects to ensure that technology infrastructure is state of the art and can support high-speed broadband, 5G and other wireless technologies.

This will facilitate connection to the Internet of Things (IoT) within Harlem.

Advanced Technology Corridors aim to ensure Harlem serves as a model for other centres which will be platformed on the high-speed broadband backbone and offer similar services.

The first collaboration is the proposed Smart Corridor development at 116th Street, where SenSen will trial its SenSIGN solution to provide a digital asset register of the corridor.

Database of all street signs

SenSIGN will provide the Borough of Manhattan with an up-to-date database of all street, traffic and parking signs, as well as other city assets numbering in the thousands.

This will be collected by a roving patrol car in a fraction of the time it would take officers on foot.

Once the assets have been identified, they can be regularly checked for visibility and legibility, and protected from theft and vandalism.

The agreement will also see SenSen and Silicon Harlem jointly pursue follow-on opportunities in other New York City boroughs and potentially in other US states.

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Wed, 21 Mar 2018 12:54:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193508/sensen-networks-to-apply-smart-city-solutions-software-in-new-york-city-193508.html