Global technology company archTIS Ltd has recorded a performance it describes as "record-breaking" for the half-year ended December 31, 2023.
The company, known for its data-centric security offerings, achieved record revenue growth in the last six months, including significant increases in licensing and services revenue and a sharp rise in annual recurring revenue (ARR) and customer receipts.
The key financial highlights include A$5.7 million in total revenue, which beats the preceding reporting period by a staggering 142%.
This growth is complemented by a 49% increase in licensing revenue to A$2.3 million and a 3% rise in ARR to A$3.6 million.
Reduced expenses
On the other side of the ledger, the company has reduced operating expenses by 29% to A$2.9 million, bolstering its cost efficiency as it scales up. The enhancements extend to EBITDA, which has shown a 90% improvement on the prior corresponding period.
archTIS's strategic customer engagements have had a big impact on its success. New clients BAE Systems (LON:BAES) Australia Ltd and Australian Naval Infrastructure Pty Ltd are among the companies to embrace its secure collaboration technologies.
These partnerships, along with a A$889,000 service delivery to KPMG for the Department of Defence, illustrate the company's expanding influence across key markets and sectors.
The company sees growing recognition of its technological innovations as central to its success in the second half of 2023.
The launch of new product Kojensi in the UK, and the integration of NC Protect into Microsoft (NASDAQ:MSFT) 365 for the Government Community Cloud High platform, highlight the company's technological advancements.
Moreover, archTIS's commitment to innovation has been acknowledged with prestigious awards, including being named Cyber Business of the Year for the second consecutive year and receiving the Policy Management Solution of the Year award at the CyberSecurity Breakthrough Awards.
These results and recognitions not only reflect archTIS's robust performance over the six months, but also position the company for continued growth and expansion into new markets in the future.
With a strong financial footing and a series of strategic wins, archTIS is well-placed to advance its mission of providing secure data collaboration solutions globally.