Miles Jakeman (archTIS)
Publicly listed information security provider archTIS has multiplied its revenue for the 2021 financial year by more than eight times the result seen a year ago, rising up to $4.6 million.
Clocking in at an increase of 743 per cent for the 12 months to 30 June, this made it the company’s highest yearly revenue result on record, according to chairman Miles Jakeman, who called the year a “bittersweet period for the company”, coming amid the coronavirus pandemic.
“The pain and suffering brought on by COVID-19 also brought on new business opportunities with the massive global growth of the remote worker and a US$10 [billion] data-centric security market,” he said.
“Remote work has brought new challenges to collaboration and has exposed a broader need around security; particularly associated with breaches and loss of sensitive information originating from employees and contractors (insider threats).”
Part of this revenue included $14,400 in JobKeeper payments.
The company also managed to shrink its net loss after tax by nearly a quarter, decreasing 24.5 per cent to just under a loss of $3 million, continuing the trend seen in its half year results for FY21.
Additionally, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 44 per cent to $1.5 million in the red and gross profit was also up to $3.1 million, a 1,159 per cent increase, across a 67 per cent gross margin.
This is the first full year results for archTIS since its acquisition of US-based Nucleus Cyber, which closed in November 2020. The company has since merged with the cyber security vendor, to which Jakeman said it was a key defining moment for the company.
“The business merger has created product diversity with increased cross-selling opportunities created by tapping into Nucleus Cyber’s existing product offering within the Microsoft software suite,” he added.
The provider has its eyes set on even more growth in the financial year ahead, coming off the back of what documents submitted to the Australian Securities Exchange (ASX) referred to as the “transformational year” that was FY21.
To achieve this, archTIS will be aiming for triple-digit growth, focusing on gaining more global market share and utilising both direct sales distribution and partner resellers.
It also claims to have “significant” pipeline opportunities with Microsoft, Thales and Raytheon, while also considering acquisition opportunities around the globe.
