Proactive Investors - Run By Investors For Investors

SenSen Networks doubles annual revenue for the fourth consecutive year

Strong revenue growth is expected to continue with a pipeline of new potential clients.
collage of road and highway
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.

View full SNS profile View Profile

SenSen Networks Ltd Timeline

Related Articles

remote meeting
August 15 2018
The acquisition of MeetingZone earlier this year has been called “transformational” by LoopUp bosses
The US World Trade Center burns on September 11, 2001
December 05 2018
The company is chaired by Australia's former defence and foreign affairs minister Stephen Smith.
food in restaurant
September 17 2018
BigDish will start rolling out its platform to restaurants in Bath, before expanding across the south-west and eventually throughout the UK

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use