Acusensus Ltd
ASX:ACE
Acusensus Ltd
Acusensus Ltd. engages in automated camera enforcement technology. The company is headquartered in Melbourne, Victoria. The company went IPO on 2023-01-12. The firm's enforcement solution is designed to give authorities a tool to drive behavioral change on the road network. Its solutions include Heads-Up, Heads-Up Realtime and Harmony. Its Heads-Up solution is based on its patented technology, which is used to detect and capture prosecutable evidence of drivers illegally using mobile phones while driving. Its Heads-Up Realtime solution provides real-time alerts to police officers of drivers using a phone, speeding, not wearing a seatbelt or on an automatic number plate recognition wanted list. Its Harmony solution provides speed enforcement with features, such as secondary speed measurements for all offenses and an all-weather imaging system that can capture photos in adverse conditions, such as against a rising or setting sun.
Acusensus Ltd. engages in automated camera enforcement technology. The company is headquartered in Melbourne, Victoria. The company went IPO on 2023-01-12. The firm's enforcement solution is designed to give authorities a tool to drive behavioral change on the road network. Its solutions include Heads-Up, Heads-Up Realtime and Harmony. Its Heads-Up solution is based on its patented technology, which is used to detect and capture prosecutable evidence of drivers illegally using mobile phones while driving. Its Heads-Up Realtime solution provides real-time alerts to police officers of drivers using a phone, speeding, not wearing a seatbelt or on an automatic number plate recognition wanted list. Its Harmony solution provides speed enforcement with features, such as secondary speed measurements for all offenses and an all-weather imaging system that can capture photos in adverse conditions, such as against a rising or setting sun.
Revenue Growth: Revenue is significantly higher than a year ago and incrementally up from the previous quarter, with management expecting even stronger revenue growth in the coming quarters as new contracts ramp up.
Major Contract Wins: Acusensus secured a major 5-year contract with New South Wales and continued to mobilize large recent wins in New Zealand and Queensland, positioning for further revenue contributions.
US Expansion: The company added three new US contracts (Colorado, Nebraska, Texas), bringing the total active US jurisdictions to six, all multiyear in nature and expected to renew.
Strong Balance Sheet: Acusensus reported a strong cash position of about $25 million and no debt, despite some one-off cash outflows this quarter.
AI & Product Development: The company highlighted a major improvement in its AI for seatbelt enforcement with lower false positives, reducing costs and increasing efficiency.
New Product Potential: Management described its upcoming road worker safety product as having even greater market potential than its enforcement camera business, with a serviceable obtainable market potentially around $100 million per year.
