ASX-listed archTIS has put in strong first quarter 2024 financial year results, with strong revenue increases compared to the same period last year.
The secure collaboration solutions vendor said Q1 revenue is up 140 per cent, hitting $3 million.
Licensing revenue is up 60 per cent, and services earnings 239 per cent, the company said.
archTIS also said it has record customer cash receipts of $4.8 million.
Meanwhile, it's net quarterly cash burn has been lowered to $0.2 million, and operating expenses dropped 40 per cent.
The company's managing director and chief executive Derek Lai attributed the revenue increase to delivering several proofs of concept that will lead to future licensing income in its target market.
"We continued to reduce our overall net cash operating outflows as part of targeting a cash flow positive position," Lai said.
Lai said Q1 saw the successful launch of archTIS' Kojensi secure collaboration platform into the international market in conjunction with Fujitsu, opening new partner channels in the UK market.
"This is timely following signficant shifts in defence alliances driven by the AUKUS alliance and the integration of global supply chains," Lai said.
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