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SenSen Networks Ltd

SenSen Networks doubles annual revenue for the fourth consecutive year

Strong revenue growth is expected to continue with a pipeline of new potential clients.

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SenSen is focused on data-driven business process enhancement solutions

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.

Quick facts: SenSen Networks Ltd

Price: $0.12

Market: ASX
Market Cap: $48.5 m
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