Overview of Acusensus and First Half FY24 Highlights

Acusensus Limited (ASX: $ACE) has reported its First Half FY24 highlights, showcasing continued revenue momentum and improving profitability. The company's total contract value stands at $165m with seven multi-year service contracts. Revenue for the period was $24.7m, marking a 25% increase compared to the prior corresponding period. Additionally, the gross profit amounted to $11.1m with a gross margin of 45.0%, up 250 basis points. Acusensus also reported an EBITDA of $2.5m, reflecting a 35% increase compared to the prior corresponding period. The company maintained a strong cash position of $21.1m as of 31 December 2023.

Executive Commentary on Business Operations and Financial Performance

Acusensus was founded with the mission to empower authorities globally to address road safety issues using artificial intelligence-enabled compliance enforcement solutions. The company has made significant strides in this direction, with a focus on deterring distracted driving and extending its enforcement solutions to capture multiple other offenses. We are pleased with the continued revenue momentum and the expansion of our operations, particularly the signing of new contracts in Australia and the progress in international markets. Our strategic investments in operational structure, product development, and global expansion are aimed at positioning the company for sustained growth and success.

Summary of Acusensus Announcement and Outlook

Acusensus has demonstrated a strong performance in the First Half of FY24, with a focus on global expansion and revenue growth. The company's outlook for FY24 includes an expected revenue of between $49m and $51m, driven by new contracts and international expansion. Acusensus anticipates an EBITDA for FY24 between $4m and $5m, reflecting continued investment to pursue future growth objectives. The company remains well positioned to deliver revenue growth in FY24 and beyond, supported by its innovative road safety enforcement services and strategic investments in business development, service & delivery, and equipment.