Icetana boosts recurring revenue to $3.1M

• Icetana increased its annual recurring revenue by 19% to $3.1 million in the first quarter.
• Quarterly revenue reached $838,000, rising 40% compared to the same period last year.
• Growth is being driven by partner distribution channels for its on-premise security platform.

Icetana (ASX:ICE) increased its annual recurring revenue by 19% to $3.1 million in the first quarter of the 2027 financial year.

This compares to quarterly revenue of $838,000, which represented a 29% increase from June and a 40% jump from a year earlier.

"Our focus for the rest of FY27 is turning these partner channels into repeatable sales, with Antara Core giving customers a private, on-premise option as they scale AI across their security operations," said Icetana CEO Kevin Brown.

The company secured a $675,000 contract over five years through Millennium Services Group following a four-week trial at a Sydney retail site.

The business ended the quarter with $3.9 million in cash after recording net operating cash outflows of $712,000.

Following the announcement, the Icetana share price was down at $0.02.

The company distributes its software across more than 20,000 cameras at over 80 sites across 15 countries.

Distribution partners, including Macnica and SoftBank Robotics, continue to progress customer trials and contract renewals in global markets.