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archTIS prepares for commercial launch of Kojensi Gov cybersecurity platform in April

The company expects product revenues to gain traction after Kojensi’s commercial launch.
archTIS prepares for commercial launch of Kojensi Gov cybersecurity platform in April
Kojensi is a secure information sharing and collaboration cloud service

archTIS Ltd (ASX:AR9) is preparing for the commercial launch of its Kojensi Gov cybersecurity platform in April after completion of beta testing with the Commonwealth Attorney General’s Department (AGD).

The beta testing will gather feedback on the usability of the interface and utility of Kojensi Gov’s features for the secure sharing of classified information.

Formal user testing by AGD is scheduled to start in February, ahead of the commercial launch which remains on track for April 2019.

 

The company entered into a strategic partnership and reseller agreement last quarter with Axiomatics Inc, a global leader in attribute-based access control (ABAC).

Axiomatics’ products provide dynamic authorisation solutions for applications, databases, big data, microservices and APIs.

They are developed to industry standard and are utilised by Global Fortune 2000 companies and government agencies worldwide.

READ: archTIS begins beta testing cloud-based version of information security platform

Under the Axiomatics agreement, archTIS will expand its product offering to include Axiomatics’ dynamic authorisation technology delivered through advanced ABAC solutions.

This will be provided both as a standalone product and integrated into the company’s Kojensi information sharing and collaboration technology.

Axiomatics’ product suite is highly-complementary to archTIS’ technology and extends its secure information sharing solution to include the protection of additional data sets and applications.

READ: archTIS takes collaborative approach to trusted information sharing

During the December quarter, archTIS’ net operating cash outflows amounted to $1.88 million.

Cash receipts from customers were $169,000 for the quarter, down from $762,000 in the prior quarter.

This trend in revenue is consistent with the winding back of the company’s consulting business.

Net cash outflows from January 1, 2019 until the launch of Kojensi Gov in April is expected to be consistently at $600,000 a month until development is complete.

Once the product is launched, archTIS expects cash outflows to materially decrease.

READ: archTIS teams with dynamic authorisation specialist to expand its market

The company paid $300,000 of debt during the quarter, leaving it debt free.

Its cash balance at the end of the December quarter was $5.4 million which, based on current planned expenditure, is enough to begin commercialising the Kojensi platform.

Kojensi Gov has a unique security model that enables government agencies to share information and collaborate whilst meeting regulatory, security and sovereign compliance requirements for up to ‘protected’ classified information.

The AGD is pivotal to delivering programs and policies to Australia's law and justice framework and as such, is ideally suited to beta test archTIS’ secure information sharing platform.

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