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SenSen Networks Limited: 1 director
A director at SenSen Networks Limited bought 4,771,158 shares at 0.027AUD and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...
- 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...
- Richard Williamson
SenSen Networks - Clear path to sustainable cash generation
In H124 SenSen delivered positive free cash flow for the first time, a key milestone. The group’s Smart Cities focus and standardised business model supported steady top-line progression, as well as strong gross margin expansion and loss reduction. As end-H1 cash was boosted by an annual Australian development grant, we believe reaching positive free cash flow from the group’s core operating assets remains a key target. Below we outline a pathway for SenSen to deliver this target in Q4, underpin...
- Richard Williamson
SenSen Networks - Momentum and positive cash flow
Q2 was a pivotal quarter for SenSen, with the business making significant progress commercially, operationally and financially. Customer cash receipts grew 17% to A$3m and the company generated positive cash flows for the first time. Notable wins in Australia with the NHVR and a newly announced contract with Sourcewell in the US should support further growth while further validating SenSen’s technology. The shift to focus the business solely on smart cities is enabling a further $A2m in cost eff...
- Richard Williamson
SenSen Networks - Major contract with Heavy Vehicle Regulator
SenSen has won a major contract with Australia's National Heavy Vehicle Regulator (NHVR), generating A$1.5m in upfront revenue and c A$500,000 in annual recurring revenue. This is a major scale-up with an existing customer, providing important validation of both SenSen's technology and its ‘land and expand’ strategy, while retaining significant upsell potential through expanding deployments across other NHVR jurisdictions. The deal provides good support for our FY24 forecasts and strengthens the...
- Richard Williamson
SenSen Networks - Eyeing scalable growth through smart cities
SenSen’s Q1 update signals positive momentum following record FY23 results. Q1 saw customer receipts exceed operating costs on a trailing 12-month basis, a key milestone towards its target to reach profitability this year. Encouraging FY24 lead indicators include a recent tender announcement, potentially one of SenSen’s most significant smart cities deals yet, and the settlement of the Angel dispute, which marks SenSen’s gaming exit. Proceeds from Angel’s investment in SenSen and the ongoing rig...
- Richard Williamson
SenSen Networks - Targeting multiple areas to achieve profitability
SenSen’s FY23 preliminary results show robust revenue growth, albeit missing our forecasts slightly. Losses narrowed year-on-year from efficiency initiatives. The strategic shift towards more predictable opex and cloud contracts continues to improve the revenue mix. Margin expansion is expected in FY24 following efficiency measures, with potential for cash flow positivity. Valuation remains at a discount to peers despite SenSen being one of the few with a positive FY24 EBITDA forecast.
- Richard Williamson
SenSen Networks - Strong finish to FY23, positive start to FY24
SenSen’s Q423 update shows robust quarter-on-quarter growth in cash receipts, broadly aligning with our full year revenue forecast. Lead indicators for FY24 are positive, highlighted by the recent signing of a A$1.4m three-year contract with a new Asian casino customer, as well as a strong contract pipeline. SenSen also launched several new solution variants in Q4, which could lead to high-margin upsell opportunities. The group has identified cost-cutting measures for H124, with the aim of becom...
- Richard Williamson
SenSen Networks - Positioned to scale on a lower cost base
SenSen Networks (SNS) reported its ninth consecutive quarter of year-on-year record cash receipts in Q323, with growth across all key verticals and no customer churn. The company has also introduced further measures to achieve cash flow positivity and profitability from Q423, focusing on upselling to existing customers and introducing a salary sacrifice scheme for senior staff. We moderate our revenue growth forecasts to reflect these measures but upgrade our profitability and cash forecasts as ...
- Richard Williamson
SenSen Networks - Record receipts and restructuring
SenSen Networks (SNS) maintained its streak of record year-on-year cash receipts in Q223, with customer receipts up 70% against Q222 to A$2.6m. SNS continues to see growth across its key verticals of smart cities, gaming, retail and surveillance, boosting annual recurring revenues (ARR) to c A$8m, and leaving the company well on track to meet management’s expected ARR of A$10m by the end of FY23. SNS’s operational restructuring and previously announced A$2.5m in cost saving efforts should suppor...
- Richard Williamson
SenSen Networks - North American expansion boosts cash receipts
SenSen Networks (SNS) started its new fiscal year with robust cash receipts of A$2.6m, climbing 39% y-o-y. Boosted by multiple contract wins across the globe, management reported annual recurring revenues (ARR) of A$7.6m. Furthermore, management expects to approach an ARR of about A$10m by the end of FY23, and the A$600k from recently announced North American contracts should support that effort. SNS will also be implementing A$1.1m in annual savings starting in the current quarter to improve ca...
- Richard Williamson
SenSen Networks - A story of growth and investing for the future
SenSen Networks (SNS) reported accelerating growth in FY22, with operating results reflecting continued investments to support the company’s rapid, ongoing vertical and geographic expansion. Management’s expense rationalization efforts should stabilize SNS’s cost base. We adjust our forecasts to account for ongoing macro events and rising inflation, though we still forecast substantial growth through FY24. SenSen’s shift to a ‘pragmatic SaaS’ model should boost margins, and we see the company’s ...
- Richard Williamson
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 an...
- Richard Williamson
SenSen Networks - Sensing another record quarter of AI SaaS
SenSen (SNS), an Australian-based artificial intelligence company, reported another quarter of record cash receipts, growing 109% y-o-y to A$1.7m in Q322. SNS’s ‘land and expand’ strategy generated contract wins with significant portions of higher-margin recurring revenues, resulting from its transition to a ‘pragmatic SaaS’ model. Monthly recurring revenue (MRR) remains on track to reach A$0.65–0.7m by the end of FY22, and we maintain our current forecasts. If SenSen can sustain this recent mom...
SenSen Networks (SNS): Sensor AI that generates real-time insights
Edison Investment Research Limited SenSen Networks (SNS): Sensor AI that generates real-time insights 04-Apr-2022 / 12:10 GMT/BST London, UK, 4 April 2022 SenSen Networks (SNS): Sensor AI that generates real-time insights SenSen (SNS) is an Australian-based company that applies artificial intelligence (AI) to problems that involve monitoring physical spaces. Its SenDISA product platform fuses together data from multiple sensors in real time, extracts what is relevant and then uses AI to help customers reduce costs and increase revenues. SenSen's ongoing transition to a 'prag...
- Richard Williamson
SenSen Networks - Sensor AI that generates real-time insights
SenSen (SNS) is an Australian-based company that applies artificial intelligence (AI) to problems that involve monitoring physical spaces. Its SenDISA product platform fuses together data from multiple sensors in real time, extracts what is relevant and then uses AI to help customers reduce costs and increase revenues. SenSen’s ongoing transition to a ‘pragmatic SaaS’ model with higher-margin recurring revenues, the Scancam acquisition and Land Grab strategy should help maintain its recent momen...
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