archTIS Ltd has grown its revenue by 140% in the September quarter of 2023 (1Q24) compared to 1Q23, supported by delivering several proof of concepts (PoC) which are expected to lead to future licence revenue.
The software provider for the secure collaboration of sensitive information also achieved a significant decrease in operating costs, down 40% from $2.7 million in 1Q23 to $1.6 million in 1Q24.
The quarter also saw the successful launch of the multi-level security platform Kojensi into the international market at the UK Defence and Security Equipment International (DSEI) conference.
archTIS managing director and CEO Daniel Lai said: “archTIS is pleased to announce its Q1 results for FY24. We have grown revenue by 140% on PCP, principally through delivering several proof of concepts (PoC) that we believe will lead to future licence revenue in our target market.
“We continued to reduce our overall net cash operating outflows as part of targeting a cash flow positive position.
“The quarter also saw our successful launch of Kojensi into the international market in conjunction with Fujitsu at the UK Defence and Security Equipment International (DSEI) conference, opening new partner channels in the UK market. This is timely following significant shifts in Defence alliances driven by the AUKUS alliance and the integration of global supply chains.
“The uptake of Kojensi and NC Protect licencing has also accelerated through both new customer acquisitions and licence growth in existing accounts.
“Finally, it has been humbling to have received several awards, including the 2023 Australian Cyber Business of the Year, the 2023 Policy Management Solution of the Year, and the most inclusive information security company on the Australian Securities Exchange (ASX) for having women represented at every level of our leadership team.”
Continued customer wins
archTIS continued strong customer adoption across key vertical markets and geographies. A sampling of customer wins in the quarter include:
- A global defence manufacturer selected archTIS to provide initial consulting on datacentric collaboration and future product selection associated with AUKUS;
- another European bank chose NC Protect and NC Encrypt for independent encryption key management for their Microsoft (NASDAQ:MSFT) 365 applications and SharePoint on-premises environments to maintain digital sovereignty and add data-centric protection to combat insider threats;
- an Australian global logistics company with operations in transportation, warehousing and logistics signed a 3-year deal to securely collaborate across their supply chain using Kojensi SaaS;
- the Australian Department of Defence extended its licenses for NC Protect across additional divisions;
- an additional US defence firm selected NC Protect for Microsoft’s GCC High Cloud environment to meet US DoD compliance requirements;
- a US real estate development company signed a 3-year contract for NC Protect to use its secure viewer and dynamic watermarking functionality to securely collaborate with external users across sensitive documents; and
- Skool4Kidz, an existing referenced account, purchased an additional 190 NC Protect for Microsoft 365 licenses through the company’s ASEAN distributor, i-Sprint Innovations.
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