Ava Risk Group (ASX: $AVA) H1 FY24 Sales Performance

Ava Risk Group (ASX: $AVA) has reported a record sales order intake of $19.7 million in H1 FY24, marking a significant 37% increase from the previous year. The company's strong performance is underpinned by its innovative technology solutions and enhanced commercial capability.

Executive Commentary

Mal Maginnis, Group CEO with over 35 years of experience in the defence, security, safety, and technology industries, expressed his confidence in Ava's core foundation technologies. Neville Joyce, Group CFO/Company Secretary, highlighted the company's strong network of OEM and distributor relationships worldwide, while Jim Viscardi, Executive Vice President Global Security, emphasized the significant growth catalysts driving the company's success. Dr. Rod Wilson, Chief Technology Officer, underscored the company's commitment to defining product strategy for wider security markets.

Summary of H1 FY24 Performance and Outlook

Ava Risk Group (ASX: $AVA) has demonstrated robust sales growth in H1 FY24, with a record sales order intake of $19.7 million, reflecting a 37% increase from the prior year. The company's strong gross margins of 61% to 63% and forecasted EBITDA positive for FY24 indicate a promising outlook. With a clear path to deliver growth over the next 28 months, Ava aims to leverage existing drivers of growth across all business segments, without requiring additional CAPEX. The company also anticipates a forecasted H2 FY2024 revenue of $16m - $20m, contingent on the timing of project fulfillment, and aims for a gross margin potential growth to over 65%. Ava's strategic partnerships and global reach position it well to become a global leader in smart security and sensing technologies, with a target revenue growth of $70 - $100m over the next three calendar years.