Advanced Braking Technology (ASX:ABV) has released its FY23 financial results, showcasing a revenue of $14.69 million, an increase of 25.1% from $11.74 million the previous year.

The company's net profit after tax rose by 129% to $1.47 million, while its total expenses increased by 25.1% to $6.17 million.

ABV also posted cash and cash equivalents of $2.05 million, up 17.8% on FY22's figure of $1.74 million.