SenSen Networks is an Australian live awareness company with a global presence. Its SenDISA platform uses AI to provide real-time insights across cities, retail and gaming, where its versatility provides opportunities across verticals and geographies.
SenSen Networks (ASX: SNS) specialises in AI sensor and vision analytics, serving global government and enterprise customers. The company’s SenDISA platform fuses data from networks of cameras, sensors and other digital data sources to deliver real-time awareness capabilities. These insights boost productivity, enhance safety and reduce costs for the group’s customers. Listed on the Australian Securities Exchange, SenSen is capitalised at A$19m and operates across North America, Asia, Australia and New Zealand.
There are five key reasons why SenSen represents an exciting investment case.
In summary, SenSen offers exposure to a business with differentiated edge AI platform technology for vision analytics. The total addressable market for the company’s solutions is large and SenSen is gaining traction across a wide range of use cases and geographical markets. Now established in the substantial North American market and with cost reductions realised, the group looks well positioned for strong operationally geared growth.
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Christian Stevens
CFO
David Smith
Executive director and COO
Subhash Challa
CEO
Forecast net debt (A$m)
0.7
Forecast gearing ratio (%)
14
% | 1M | 3M | 12M |
---|---|---|---|
Actual | 64.7 | 180.0 | 17.3 |
Relative | 59.2 | 165.5 | (0.2) |
52 week high/low | A$0.1/A$0.0 |
SenSen’s Q324 results reflect the move to a lower cost base that provides a platform for future profitability. Minor delays to the National Heavy Vehicle Regulator (NHVR) contract affected Q3 but should not affect FY24 as most of the deployment is now complete. North American Smart Cities growth is gaining traction via partnerships, underpinning Q424 momentum alongside strong fuel theft solution uptake. Restructuring to drive a return to sustainable free cash flow is mostly complete but resulted in one-off costs. We revise down our FY24 forecasts assuming similar Q4 growth from a lower Q3 base.
Y/E Jun | Revenue (A$m) | EBITDA (A$m) | PBT (A$m) | EPS (fd) (c) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 9.1 | (7.6) | (8.4) | (1.40) | N/A | N/A |
2023A | 10.8 | (5.1) | (6.1) | (0.91) | N/A | N/A |
2024E | 12.5 | (0.8) | (1.6) | (0.21) | N/A | N/A |
2025E | N/A | N/A | N/A | N/A | N/A | N/A |