Archtis Ltd (ASX:AR9) raised $8 million from investors, listed on the Australian Securities Exchange and drew in $762,000 of customer receipts in a landmark September quarter.
The company, which listed on the ASX on September 21, today released its quarterly report and affirmed its capital raising would support the commercialisation of its Kojensi information sharing and collaboration products.
Barton, Canberra-based archTIS is currently beta-testing the Kojensi Gov platform with its first confirmed client, the federal Attorney General’s Department.
archTIS managing director & CEO Daniel Lai told Proactive Investors’ Stocktube channel the business was a demonstration of demand for the product which allows for secure information sharing.
Lai said: “For them to choose us ... demonstrates to us that we’re on the right track, the product’s meeting the demand that we targeted into the marketplace, but more importantly that there’s that need and demand there.”
Another achievement for the company in the September quarter was a strategic partnership for the secure Vault Cloud community cloud for critical and government infrastructure.
The Kojensi Gov platform was built on archTIS’ secure information sharing and collaboration platform currently being deployed by the Australian Department of Defence.
archTIS plans to host Kojensi Gov on Vault’s Australian Signals Directorate-certified cloud platform for government clients.
The company plans to launch its government-targeted product in the January 2019 financial quarter.
It has previously demonstrated the product which allows secure cross-agency information sharing at the Technology in Government Conference in Canberra on August 7, 2018.
READ: archTIS signs Attorney General’s Department as first beta client for its new technology platform
The company’s $677,000 September quarter sales revenues were a $103,000, or 19.75%, improvement on the $574,000 revenues it reported in the 2017-18 financial year.
archTIS reported its strategy was “to maximise revenue growth is to focus on its next generation of cloud-based Kojensi products which will see customers pay per user per month.”
The company held $7.63 million on September 30, 2018.
Lai told the market earlier today: “archTIS is building strong momentum since listing on the ASX and I am delighted at the tremendous response we have already had to our new product, Kojensi Gov.
“This verifies the market demand for this unique technology solution.
“I believe we are well positioned to capitalise on the significant global cyber security market, where we see growing demand for cloud-based content security solutions.
“I am very pleased with the progress made to date, and look forward to sharing further exciting updates as we move closer to launching Kojensi Gov.”