Daniel Lai (archTIS managing director and CEO)
Information security provider archTIS’ losses from ordinary activities after tax shrunk during the first half of the 2023 financial year, falling 22 per cent year-on-year to $4.6 million in the red.
While a significant improvement from the first half of its 2022 financial year, which reported a loss of $5.9 million, this is a far cry from its after-tax loss in the financial year prior to that, which was $1.4 million.
Meanwhile, archTIS’ revenue in its most recent financial year fell during the six-month period to 31 December 2022 by 3 per cent, to $2.3 million.
Detailed in its financial report, which was published to the Australian Securities Exchange (ASX), archTIS said it was on track for a minimum of 60 per cent year-on-year revenue growth and cash receipts in excess of $9.5 million.
It also said that the KPMG OneDefence initiative, which is part of a consortium of vendors led by KPMG, has delivered over $1.4 million of contracts over the last 120 days and is likely to lead to additional opportunities for future services and licensing revenue.
Additionally, archTIS also renewed an unspecified number of customer contracts with a 0.1 per cent customer churn against annual recurring revenue (ARR).
Looking ahead, the provider said in the report that it was considering capital-raising activities through the issue of new share capital. If this does eventuate, it would follow the $3.5 million capital raise it completed at the end of last year, which went towards US growth.
Also on the cards is sales opportunities, which archTIS said it was exploring with customers in the government and private sectors.
