Edison Investment Research - SENSEN NETWORKS LTD (SNS) SenSen Networks - Time to scale

Report

Edison Investment Research

Richard Williamson

SenSen Networks - Time to scale

SenSen’s Q324 results reflect the move to a lower cost base that provides a platform for future profitability. Minor delays to the National Heavy Vehicle Regulator (NHVR) contract affected Q3 but should not affect FY24 as most of the deployment is now complete. North American Smart Cities growth is gaining traction via partnerships, underpinning Q424 momentum alongside strong fuel theft solution uptake. Restructuring to drive a return to sustainable free cash flow is mostly complete but resulted in one-off costs. We revise down our FY24 forecasts assuming similar Q4 growth from a lower Q3 base.

02/05/2024 1 EN

Underlying

SENSEN NETWORKS LTD

SenSen Networks is engaged in acquiring, exploring and developing coal projects in Indonesia and Australia.

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AU000000SNS0 Australian Securities Exchange Australia

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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SenSen Networks - Time to scale

SenSen Networks - Clear path to sustainable cash generation

SenSen Networks - Momentum and positive cash flow

Tinexta - Typical seasonality in Q124

Dentsu Group - FY24 prospects weighted to H2

Record - AUME momentum and a sharper focus

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