SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF) has set another record month for sales cash inflows in June of A$1.8 million following a record month in May of A$1.1 million.
In addition, the company has been successful in continuing its land and expand strategy, winning multiple contracts with new and existing global customers covering all business verticals including smart cities, casinos, fuel retail and surveillance.
These new contracts will bring to the coffers a total new minimum contract value amounting to A$2.7 million from this financial year in both upfront and Software as a Service (SaaS) recurring revenues.
What’s more, SenSen continues to focus on its additional cost control initiatives with a clear goal to drive the company towards cashflow positivity.
“Multiple business verticals”
Encouraged by another record month, SenSen CEO Dr Subhash Challa said: “I am pleased to see consecutive months of record cash inflows from customers and revenue momentum across all our business verticals.
“The momentum demonstrates the maturity of our team in delivering products and customer service at scale.
“It also proves our product platform strategy to offer unique vertical-specific products from a single configurable platform is delivering value to customers across a wide spectrum of users and scaling up revenues from multiple business verticals.”
Cash receipts from customers.
About SenSen
SenSen Networks is focused primarily on the development, commercialisation, and supply of innovative, data-driven business process enhancement solutions.
The company’s software combines enterprise video and sensor data acquisition, data fusion and IoT and Big Data analytics into a highly scalable and configurable platform that allows customers to improve the speed and accuracy of their decisions.
SenSen’s R&D and sales teams in Melbourne are supported by an Indian team providing administrative and back-end support and services, including, software testing, quality assurance and customer support.