SenSen Networks (SNS) H1 2026 earnings summary

Executive summary

• Achieved record first half revenue of $6.6m, up 20.2% year-over-year, driven by new customer wins and a 115% increase in usage revenue, particularly in North America and Australia.

• Gross profit margin expanded to 85.2% from 77.3%, reflecting operational efficiencies and product adoption.

• EBITDA turned positive for the period, reaching $0.34m, or $0.54m excluding share-based payments.

• Net loss after tax significantly reduced to $0.17m from $1.59m year-over-year.

• Strong sales momentum with five new city wins in North America and 33 new fuel sites in Australia.

Financial highlights

• Total revenue reached $6.6m, up 20.2% year-over-year; gross profit rose to $5.62m, up 32.6%.

• Customer cash receipts hit a record $8.3m, up 31% year-over-year.

• Operating expenditure as a percentage of revenue decreased, reflecting cost discipline.

• Net operating cash outflow was $1.5m, impacted by equipment purchases, payroll timing, and delayed R&D tax refund.

• Net cash position improved post R&D credit receipt, with nil debt as of February 2026.

Outlook and guidance

• H2 is expected to be seasonally stronger, with over 70% of revenue from Australia typically recognized in Q3 and Q4.

• Continued investment in North American sales and marketing to drive further expansion.

• Directors believe internal cash flow forecasts and revenue growth targets are achievable, supported by undrawn debt facilities and the ability to scale back expenditure.

• R&D tax offset refund of $2.05m received post-period, improving liquidity.

• Investor roadshow planned for March 2026.