icetana Limited (ASX: ICE) (“icetana” or “the Company” or “we”), an artificial intelligence software company providing solutions to detect real-time anomalous events on video surveillance systems, is pleased to release its activities report and Appendix 4C for the quarter ended 30 September 2023 (Q1 FY24).
Highlights:
-- Annualised recurring revenue of $1.8m as at September 2023, up 13% year on year and up 7% quarter on quarter, our strongest quarter of the past five quarters.
-- Quarterly revenue in the September quarter was $453k, up 17% year on year and 7% quarter on quarter.
-- Net ARR retention was 99% over the quarter.
-- Continued investment in sales capability with a new Chief Revenue Officer hired.
-- Successful $2m placement to our three largest shareholders, at a premium to market.
-- Net operating cash outflow of $297k for the quarter, remaining well capitalised with $2.3m cash at bank, with SPP and Placement tranche 2 proceeds ($0.6m) to come during October and November.
For more information, download the attached PDF.
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