Structural Monitoring Systems executive chairman and CEO Ross Love talked with Proactive live from the ASX SMIDcaps Conference about the company’s aviation-focused growth strategy, recent product developments, and financial performance.
Love explained that the company operates across three segments: avionics for special mission fleets, contract manufacturing, and the development of CVM (Comparative Vacuum Monitoring) technology for detecting microscopic cracks in metal structures. He noted, “The investment case is this is a business that will grow at around about 20% a year plus or minus.”
One of the highlights discussed was the launch of a compact version of their digital audio system, which is tailored for emergency services and aerial firefighting fleets. These products are increasingly in demand, with installations underway across North America, including for California’s CAL FIRE — the largest aerial firefighting fleet.
Love also detailed their expansion into South America, which is facilitated by similar infrastructure to the North American market. He said, “We supply most of the critical flights across North America… we’re making inroads into Europe and into South America.”
On the financial front, Love highlighted that the company has doubled in size over the last two and a half years and is now operating with positive cash flow for the first time, following a successful capital raise of over $8 million. The company expects its first commercial revenues from CVM technology in the first quarter of the next financial year.
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