SenSen Networks (SNS) H1 2025 earnings summary

Executive summary

• Achieved third consecutive quarter of positive cash from operations and completed a board refresh with new independent chairman and audit committee chair appointments.

• Transitioned to a specialised Smart City operator after exiting the Gaming industry, with major contract wins in Calgary and Montreal expected to be delivered in 2025.

• North American revenue share increased to 26% from 21% in H1 FY24, driven by significant contract wins.

Financial highlights

• Revenue from ordinary activities was $5.48 million, up 1% year-over-year; Smart Cities revenue (excluding Gaming) grew 9%.

• EBITDA (excluding share-based payments) improved by $533,703 to a loss of $86,772, a $0.5M improvement over PCP.

• Operating cash inflow for the half was $1.58 million, up from $0.60 million in the prior year.

• Customer cash receipts reached $6.3 million, a 14% increase from Smart Cities (excluding Gaming) and 4% overall.

• Net loss after tax reduced to $1.59 million from $2.06 million in the prior year, a 23% improvement.

Outlook and guidance

• Significant projects in Calgary and Montreal are on track for completion in 2025, supporting future revenue growth.

• Continued focus on North American market expansion, leveraging a growing partner network and high reference customers.

• Ongoing cost stabilisation and ability to win new business provide a strong foundation for continued improvement.

• New product development underway, including a pole-mounted camera solution for local governments.