SenSen Networks (SNS) H2 2026 earnings summary

Executive summary

• Annualised recurring revenue grew 16.7% year-over-year to $11.7M, driven by new contracts, expansion with existing customers, and a 67.9% increase in usage revenue.

• Recurring revenue now represents 69% of total revenue, up from 63% in FY25, reflecting a successful transition to a platform-based model.

• Expanded customer base in North America with five new city contracts, multi-year renewals, and first deployments in India and new trials in Australia.

• Record customer cash receipts of $16.0M, up 10.1% YoY, with customer churn at just 5.6%.

• Platform expanded with new product launches, broadening the addressable market.

Financial highlights

• FY26 revenue reached $15.4M, a 0.2% increase year-over-year, despite project delays from global supply chain disruptions.

• Gross margin improved to 81.3%, up 2.1 percentage points YoY.

• EBITDA increased 23.6% YoY to $2.0M, EBIT up 63.3% to $1.5M, and net profit before tax nearly doubled to $1.0M.

• Recurring licence, maintenance, and usage revenue grew 10.5% YoY, while upfront hardware and implementation revenue declined 17%.

• Net revenue retention at 111% and gross revenue retention at 94%.

Outlook and guidance

• Growth in ARR and recurring revenue expected to further reduce revenue seasonality in future years.

• Entering FY27 with a larger recurring revenue base, secured contracts moving into delivery, and new products entering the market.

• Anticipates continued growth opportunities across North America, Australia, and Asia.

• Some project revenue delayed to FY27 due to supply chain issues and cautious customer spending.

• Continued investment in sales, marketing, and technology to support expansion in North America and Singapore.