Acusensus Q3 FY24 Quarterly Activities Report & Appendix 4C

Acusensus Limited (ASX: $ACE) has extended its NSW Mobile Speed Camera contract with Transport for NSW for another year. The company reported Q3 FY24 cash receipts of $11.7 million and unaudited revenue of $12.1 million, up 11% compared to Q3 FY23. With fully funded cash reserves totalling $19.8 million as of 31 March 2024, Acusensus is pleased to provide a summary of its activities for the third quarter ended 31 March 2024.

Acusensus Founder and Managing Director, Alexander Jannink, said:

There have been a number of achievements for Acusensus over the past quarter, with significant tender activity in the sectors Acusensus serves. These tailwinds will continue to bode well for the future of Acusensus as more governments recognise the lifesaving potential of the types of solutions that Acusensus has pioneered. Applicable speed and/or mobile phone tenders have recently been released domestically and internationally. In responding to tenders, Acusensus bids with world leading technology, excellent service and maximum flexibility. Our clients can be confident that if they do select us, we will deliver well with a response bid on commercially viable terms. It's been pleasing to see the first phone enforcement cameras activated in South Australia, conversion of opportunities previously announced in the United States (US), and the continued demand in the United Kingdom (UK). We have grown our team steadily in both the US and the UK over the quarter, and we have now appointed a Chief Operating Officer to further enhance our attention to scaling the business effectively and efficiently. Seeing our road worker safety product deployed for the first time this quarter at real work sites has been very rewarding and I'm excited by our ambitions to make a difference in work health and safety on a global stage over time.

Acusensus Q3 FY24 Summary and Outlook

Acusensus has extended its NSW Mobile Speed Camera contract and reported Q3 FY24 cash receipts of $11.7 million and unaudited revenue of $12.1 million, up 11% compared to Q3 FY23. The company is fully funded with cash reserves totalling $19.8 million as of 31 March 2024. Acusensus aims to continue its focus on scaling the business effectively and efficiently, with ambitions to make a difference in work health and safety on a global stage over time. The company reiterates its expectation to deliver FY24 revenue in the range of $49 million - $51 million and EBITDA in the range of $4 million - $5 million. With a strong pipeline of projects and a focus on reducing road trauma, Acusensus remains committed to driving behavioural change and improving road safety globally.