Driver-safety technology company Acusensus (ASX: ACE) is targeting revenue growth of up to 41 per cent in the current financial year, backed by increased acceptance of its seatbelt and mobile phone detection systems by international markets.
The Melbourne-based Acusenses posted a 20 per cent increase in revenue to $59.4 million in FY25, although higher operating costs led to a 12 per cent fall in adjusted EBITDA to $5.7 million.
The revenue momentum drove Acusensus shares sharply higher today, up 27 per cent to a peak of $1.145, before they pulled back to $1.06 at 2.54pm (AEST).
The latest earnings result was boosted by the Australian market, where Acusensus secured a contract with WA Road Safety Commission for the company’s Heads-Up system that, in addition to mobile phone and seatbelt non-compliance detection, is being used to simultaneously detect point-to-point speed by drivers and unregistered vehicles.
Transport for NSW, the first adopter of the Acusenses technology, has also renewed its original five year contract for its mobile phone and seatbelt detection program.
But it’s international markets, particularly New Zealand, that are expected to support further growth in the year ahead.
New Zealand, where Acusensus has secured a five-year NZ$92 million ($83 million) contract for a nationwide mobile speed camera enforcement program by New Zealand Transport Agency Waka Kotahi, is poised to deliver a “step change” in the company’s international revenue contribution once the contract is fully implemented.
In the US, the company also has boosted the number of jurisdictions using its technology for enforcement to six from just one at the end of FY24.
"I am immensely proud to report on a period of substantial operational progress and strategic execution in FY25,” says Acusensus co-founder and managing director, Alexander Jannink, a former Top 100 Australian Young Entrepreneur.
“This past year has solidified our position as a global leader in Al-enabled road safety, delivering tangible results both financially and in our core mission to save lives. Our achievements have laid a strong foundation for continued success in FY26 and beyond.”
Acusensus, which was founded in 2018 by Jannink and chair Ravin Mirchandani, listed on the ASX in January 2023.
The company has revealed that total contracted value since inception of $376 million is now 84 per cent, or $172 million, higher than a year ago.
“This growth was driven by significant domestic and international new contract wins and expansions with existing customers,” says Jannink.
“This includes the successful renewal of our very first contract with NSW for mobile phone and seatbelt, which speaks to the value and trust we've built with our government partners.”
Higher costs took their toll on the Acusensus bottom line with the $2.6 million loss up from a $1.5 million loss in FY24.
However, Acusensus recorded a 131 per cent increase in positive cash flow from operating activities to $8.3 million in FY25.
"A key highlight this year was the successful deployment of our innovative multi-function enforcement technology in Western Australia,” says Jannink.
“This was first-of-its-kind globally to simultaneously detect multiple road safety violations including mobile phone usage, seatbelt non-compliance, spot speed, average speed and unregistered vehicles.
“Our global expansion saw significant progress, with the mobilisation of our New Zealand mobile speed contract progressing well and expected to get to full deployment capacity by the end of 1H FY26.
“Our presence in the USA grew from a single enforcement jurisdiction to six, demonstrating strong momentum and market demand.”
During the year, Acusensus also signed a long-term commercial contract with Fulton Hogan to deploy the company’s road worker safety solutions across selected Australian worksites.
“We also secured several new pilot customers for this technology across a range of industry sectors,” says Jannink.
Acusensus is targeting revenue of between $79 million and $84 million in FY26, representing an increase of between 33 and 41 per cent compared with FY25.
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