AVA Risk Group H1 FY24 Performance Overview

AVA Risk Group Limited (ASX: $AVA) has announced its H1 FY24 results, reporting a record sales order intake of $19.7 million, marking a 37% increase from the prior year. The company's global leadership in smart security and sensing technologies positions it for further expansion and growth.

Executive Commentary on H1 FY24 Performance

Mal Maginnis, Group CEO with over 35 years of experience in the defence, security, safety, and technology industries, expressed confidence in AVA's excellent core foundation technologies. Neville Joyce, Group CFO/Company Secretary, highlighted the company's strong network of OEM and distributor relationships worldwide. Jim Viscardi, Executive Vice President Global Security, emphasized the positive market response to the Aura Ai-X in the Detect segment, underpinning the company's success in large-scale contract awards and growing the recurring revenue base. Dr. Rod Wilson, Chief Technology Officer, outlined the company's continued growth in recurring revenue and the signing of supporting services contracts during H1 FY24.

Summary of H1 FY24 Results and Outlook

AVA Risk Group's H1 FY24 results demonstrate a strong performance with a record sales order intake, significant stocking orders, and positive market response to its products. The company's strategic supply agreement with Telstra and the successful product trials further highlight its potential for growth. Despite an EBITDA loss of $0.9m in H1 FY24, the company expects a strong performance in H2, with forecasted revenue of $16m - $20m. AVA Risk Group remains well-positioned for growth over the next three years, with a focus on scalable business models, sustainable gross margins, continued tech development, and a compelling case for investment.