SenSen Networks

AU: SNS

Market CapAU$50m

Last Close AU$0.08

Australia-based technology company SenSen Networks operates in the field of sensor artificial intelligence (AI). By applying its SenDISA AI platform to physical space monitoring, it extracts real-time insights for customers. It provides solutions to customers in the smart city, gaming, retail and surveillance verticals.

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Investment summary

SenSen Networks (SNS) reported accelerating growth in FY22, with operating results reflecting continued investments to support the company’s rapid, ongoing vertical and geographic expansion. Management’s expense rationalization efforts should stabilize SNS’s cost base. We adjust our forecasts to account for ongoing macro events and rising inflation, though we still forecast substantial growth through FY24. SenSen’s shift to a ‘pragmatic SaaS’ model should boost margins, and we see the company’s growth potential as underappreciated in the market.

Y/E Jun
Revenue (A$m)
EBITDA (A$m)
PBT (A$m)
EPS (c)
P/E (x)
P/CF (x)
2021A 5.5 (2.2) (3.0) (0.62) N/A N/A
2022A 9.1 (7.8) (12.3) (2.02) N/A N/A
2023E 15.5 (2.8) (5.6) (0.83) N/A N/A
2024E 23.5 3.2 0.4 0.05 154.0 28.7
Industry outlook

SenSen operates in the fast-growing, global AI market, which is expected to expand at about a 43% CAGR and reach US$126bn by 2025 (source: Tractica). As it executes its ‘Land Grab’ strategy, SenSen should benefit as AI is increasingly used in verticals that involve monitoring physical spaces and as it expands its business across multiple geographies.

Last updated on 28/09/2022
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Share price graph
Balance sheet
Forecast net cash (A$m) 2.5
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (3.8) 8.5 (43.0)
Relative* 6.2 13.2 (35.1)
52-week high/low A$0.2/A$0.1
*% relative to local index
Key management
Subhash Challa CEO
Jon Cook CFO
David Smith Executive director and COO