Senetas Corporation (ASX:SEN) FY2024 results Company Presentations by Finance News Network September 05, 2024 04:30 PM Email Alerts for: ASX:SEN Senetas Corporation Limited (ASX:SEN) CEO Andrew Wilson discusses the company's results. Following the presentation, he is interviewed by Trim Capital Co-Founder Glen Wellham.Highlights include:Consolidated group operating revenue $31.2m (up 6.5 per cent)Strong growth in sales to customers of hardware productsConsolidated gross profit up 12.6 per cent to $27m, with gross margins up 4 percentage points to 86 per centSegment adjusted profit before tax up 63 per cent to $3.6m after eliminating the impact of variable considerationStrong growth in customer demand for Senetas encryptors included the largest single sale in the company's historyInventory holdings have begun to reduce, and Thales inventory has stabilisedSales pipeline grew significantly through the 2023 calendar year, but moderated during the second half of FY2024 as sales transactions were completedCore R&D projects included upgrades to Senetas's 10Gbps encryptors, a new version of the 100Gbps encryptor and recertification required in North America
