icetana Limited (ASX: ICE) (“icetana” or “the Company” or “we”), a company building artificial intelligence video analytics software to help security and IT teams manage large scale surveillance networks, is pleased to release its activities report and Appendix 4C for the quarter ended 31 December 2023 (Q2 FY24).
Highlights:
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Annualised recurring revenue of $1.8m as at December 2023, up 11% year on year and up 0.5% quarter on quarter.
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Quarterly revenue in the December quarter was $2.2m, up 425% year on year and 392% quarter on quarter, largely as a result of the successful installation of a $1.5m hardware contract.
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Net ARR retention was 97% over the quarter, with the loss of a legacy customer offsetting expansion sales.
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Successful completion of tranche 2 of the $2m placement.
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Net operating cash outflow of $286k for the quarter, remaining well capitalised with $2.6m cash at bank.
For more information, download the attached PDF.
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