Senetas Corporation Limited (ASX:SEN) CEO Andrew Wilson discusses the company's results. Following the presentation, he is interviewed by Trim Capital Co-Founder Glen Wellham.
Highlights included:
- Consolidated group operating revenue $31.2m (up 6.5 per cent)
- Strong growth in sales to customers of hardware products
- Consolidated gross profit up 12.6 per cent to $27m, with gross margins up 4 percentage points to 86 per cent
- Segment adjusted profit before tax up 63 per cent to $3.6m after eliminating the impact of variable consideration
- Strong growth in customer demand for Senetas encryptors included the largest single sale in the company's history
- Inventory holdings have begun to reduce, and Thales inventory has stabilised
- Sales pipeline grew significantly through the 2023 calendar year, but moderated during the second half of FY2024 as sales transactions were completed
- Core R&D projects included upgrades to Senetas's 10Gbps encryptors, a new version of the 100Gbps encryptor and recertification required in North America
