archTIS Ltd accomplished a 37% year-over-year revenue growth and reduced operating cash outflows by more than 50% through capital efficiencies and streamlined operating costs for the financial year ended 30 June 2023 (FY23).
The company’s customer cash receipts increased by more than 200% to $9.5 million compared to FY22, while cash outflow decreased from $10.6 million to $5 million.
During the year, archTIS delivered on strategic initiatives around product innovation, the development of key strategic partnerships and the continued expansion of contracts with key customers.
The company has now won over $17 million of contracts with the Australian Department of Defence to provide secure collaboration and sharing of sensitive and classified information.
archTIS is working closely with members of Defence and its key channel partners to improve data maturity and security.
In June 2023, this resulted in the awarding of a $4 million proof of concept contract to assist in modernising the workforce. Most of this revenue will be recognised in the coming financial year.
archTIS’ success with the Australian Department of Defence is driving new and exciting pipeline opportunities with other coalition forces, including AUKUS and other traditional “Five Eye” countries.
Additionally, through partnerships with Microsoft (NASDAQ:MSFT), Thales, Leidos (NYSE:LDOS) and others the company was able to secure new global contracts with top-tier enterprises in the defence industry, manufacturing and financial services sectors.
Strong market tailwinds continue in the overall cyber-security space.
Over the past year, not only have some of Australia’s largest and most important institutions been susceptible to cyber-breaches, but its military allies suffered devastating internal security breaches and organisations experienced increased levels of supply chain espionage.
The company believes that the data-centric approach of archTIS solutions with Kojensi and NC Protect could have played a significant role in either limiting or deterring some of these cyber incidences.
Outlook
Heading into FY24, archTIS is encouraged by the foundation the team has built and looks forward to a number of key initiatives that were started in FY23.
archTIS is particularly looking to scale and be the global thought leader in data-centric architecture; the preferred platform of choice for sharing of information across government, defence and defence industry; and be the premium provider of policy-enforced access control to the global defence market.