RemSense Technologies lifts customer receipts by $463,000
Key points
- RemSense Technologies reported a $463,000 increase in customer cash receipts for Q1 FY27 compared to Q1 FY26.
- Operating cash outflows fell by $387,000 year-on-year, while the company progressed technology and updated following a $1.2 million capital raise.
- The business is focusing on converting its project pipeline into recurring platform revenue through long-term software subscriptions.
RemSense Technologies (ASX:REM) reported a $463,000 year-on-year increase in customer cash receipts for the September quarter.
Total operating cash outflows decreased by $387,000 compared to the same period last year and $50,000 compared to the prior quarter.
The company secured subscription renewals for its virtual plant platform from Woodside Energy and Newmont for an additional 12 months.
RemSense Technologies also expanded virtual plant to 10 Woodside-operated assets across Australia after securing two additional platform projects in Bass Strait.
RemSense Technologies stated that it remains focused on converting its expanding pipeline into consistent project activity and recurring platform revenue.
Following the announcement, the RemSense Technologies share price was unchanged at $0.025.
The business formalised a strategic Memorandum of Understanding with Sentient Computing and confirmed support for Curtin University's proposed ASI Hub.
Additionally, the company secured drone-based water sampling contracts with WSP, BHP (ASX:BHP), Rio Tinto (ASX:RIO), and Norton Gold Fields for delivery in Q2 FY2027.
