SenSen Networks - Multiple contract wins across all four verticals
SenSen continued its run of record quarterly cash receipts, which rose 128% y-o-y and 117% q-o-q to A$3.7m. Notably, the company secured contracts worth at least A$3.8m across all four business verticals and multiple geographies. These wins provide recurring, higher-margin revenues, boosting annualised recurring revenue (ARR) towards c $8m as it made solid progress in transitioning to a ‘pragmatic SaaS’ model. The results support our estimates and if SenSen continues this trend of growing ARR and winning contracts across multiple verticals and geographies, we believe it could reduce the valuation gap versus peers.SenSen Networks is engaged in acquiring, exploring and developing coal projects in Indonesia and Australia.
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