Seeing Machines Limited said all divisions "are seeing success" as revenues rose 18% in the year to June 2021.
"The landscape for Seeing Machines and our technology has taken a dramatic turn with ongoing momentum driven by industry demand and regulatory tailwinds across all of our focused transport sectors," Paul McGlone, chief executive officer, said.
“As a result, we are seeing success across all business divisions, and this is very pleasing."
The driver monitoring systems group reported annual revenues climbed to A$47.2m (2020:A$40.0m) with the first contribution from OEM royalty licensing contracts
Royalties chipped in A$2.3mln out of a total OEM revenue of A$12.1mln (2020: A$13mln) including one-off work though it was aftermarket sales that stood out with a 30% jump to A$35.1mln.
Recurring income rose 23% to A&17.2mln, which reflected the growth of the installed base of its Guardian system to just under 32,000 units said the statement.
Losses for the year declined to A$16.7mln (A$45.6mln) after a sharp drop in operating costs and R&D expenditure.
Cash at the year-end was A$47.4mln though this week the group raised US$41mln (A$57mln) through an oversubscribed share placing.
In the first three months of the current year sales were A$9.8mln (A$9.5mln), Seeing Machines added.
The Aftermarket business is thriving, McGlone said, while more and more cars are being sold with our DMS technology installed across the world.
"Aviation has also advanced significantly and this is emphasised by our post-period agreement with Collins Aerospace, the world's largest Tier 1 avionics company, which has big plans to work closely with our team to deliver eye-tracking solutions across the industry to deliver training efficiencies and enhance safety.