icetana AI, a company building artificial intelligence video analytics software to help security and IT teams manage large-scale surveillance networks has released its second quarter results for the 2025 financial year. icetana AI has secured additional funding as its Safe City project nears completion, and its pipeline in the Middle East continues to expand.
Highlights of the quarter include:
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Launch of AUD2.65 million rights issue, fully underwritten by second largest shareholder Lance East Holdings Pty Ltd;
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Over AUD500,000 of purchase orders received from new customers during the quarter;
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Annualised recurring revenue (ARR) of AUD1.7 million as of December 2024, down 4% year on year and 2% quarter on quarter as an existing customer exited their contract;
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Net ARR retention was 98% quarter on quarter, with churn of a single customer offsetting expansion sales from existing customers;
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Total quarterly revenue of AUD440,000 down 6% quarter on quarter and down 80% year on year The annual decline was principally due to a large hardware sale which boosted revenue in the comparative period;
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Net operating cash outflow was AUD1.2 million for the quarter; and
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Increased focus on cost control during Q1 and Q2 FY25.
