Senetas Corporation Limited · ASX:SEN
Senetas — Investor Presentation (February 2025)
20 slides from Senetas's investor presentation, Feb 28, 2025
Slide 1: Senetas Corporation Limited 2025 Half Year Results
Senetas Corporation Limited 2025 Half Year Results – 28 February 2025 © 2025 Senetas Corporation Slide 1
Slide 2: HY2025 Group Highlights
HY2025 Group Highlights • Votiro sale to Menlo Security Inc. announced on 20 February 2025 – Votiro operating results continue to be consolidated into Senetas results for HY2025 • Good growth in consolidated group revenue – up 22% • Senetas operating revenue was up 2% with a higher portion of 3rd pa
Slide 3: Summary Statutory Financials
HY2025 Summary Statutory Financials Half year ended 31 December 2024 ($000’s) HY2025 HY2024 Revenue from ordinary activities - Senetas 9,531 9,346 - Votiro 6,865 4,144 Total Group Revenue 16,396 13,490 EBITDA - Senetas 1,278 1,464 - Votiro (3,682) (4,321) Group EBITDA (2,404) (2,857) Net profit (los
Slide 4: Outlook
Outlook • Continue to expect good customer sales of Senetas products to be maintained through the remainder of FY2025 • Customer sales pipeline growth through HY2025 provides solid momentum into late FY2025 • Thales inventory reduced by 29% in HY2025 – which will continue to affect inventory transfe
Slide 5: Senetas Segment
HY2025 SENETAS SEGMENT © 2025 Senetas Corporation Slide 5
Slide 6: Highlights – Senetas Segment
HY2025 Highlights – Senetas Segment • Senetas segment reported revenue in HY2025 was up 2% to $9.5 million • Good growth in customer sales of Senetas products & services by Thales was offset by lower inventory transfers as Thales reduced inventory post the global electronic component shortages • Mai
Slide 7: Senetas Operations
HY2025 Senetas Operations • With the global component shortages now having eased, Senetas’s inventory holdings have stabilised, and Thales’s inventory of Senetas products has reduced (down 29% since the same time in the prior year) • We continue to expect both Thales and Senetas inventory levels wil
Slide 8: Votiro
HY2025 VOTIRO © 2025 Senetas Corporation Slide 8
Slide 9: Financials – Votiro
HY2025 Financials – Votiro • Votiro operating revenue was up 66% to $6.7 million driven primarily by growth in the Asia Pacific region – the Asia Pacific region remains the largest contributor to revenue & ARR • Cost of sales grew similarly to revenue – up 56% • Gross Margin was 92% • Efficiency ini
Slide 10: Votiro sale
Votiro sale • The underlying Votiro business becoming part of Menlo Security represents a significant opportunity to accelerate the growth of the business • Senetas’s ongoing exposure to Menlo via the shares Votiro received as consideration for the transaction also has the potential to deliver subst
Slide 11: Votiro sale: Key Transaction Details
Votiro sale Key Transaction Details • Sale of the Votiro operating business to Menlo Security Inc. (Menlo) was announced on 20 February 2025 • Transaction was structured as a sale by Votiro Cybersec Global (Australian incorporated Votiro parent company) of its wholly owned operating subsidiary compa
Slide 12: Votiro sale: Key Transaction Details (con't)
Votiro sale Key Transaction Details (con’t) • Initial consideration expected to be received by Votiro Cybersec Global in April/May 2025 • Initial cash proceeds received are likely to be used to part repay loans outstanding to Senetas and another major Votiro shareholder • Votiro Cybersec Global and
Slide 13: About Menlo Security Inc.
Votiro sale About Menlo Security Inc. • Menlo is a pioneer of secure enterprise browser solutions with over 1,000 global enterprises and government agencies relying on Menlo to provide a safe and secure browsing experience, on any browser or any device • It is trusted by major global businesses incl
Slide 14: Key Financials
KEY FINANCIALS © 2025 Senetas Corporation Slide 14
Slide 15: Consolidated Senetas Group Financials
HY2025 Consolidated Senetas Group Financials Half year ended 31 December 2024 ($000’s) HY2025 HY2024 Revenue from ordinary activities 16,396 13,490 Gross profit 14,591 12,133 Gross Margin % 89% 90% Other income 106 59 Depreciation & amortisation (1,121) (1,595) Profit (loss) before tax (3,729) (8,08
Slide 16: Senetas Operating Segment Results
Senetas Operating Segment Results Half year ended 31 December 2024 ($000’s) HY2025 HY2024 Revenue from ordinary activities 9,531 9,346 Gross profit 8,267 8,335 Gross Margin % 87% 89% Other income 106 59 Depreciation & amortisation (291) (322) Profit before tax 1,868 1,426 Profit after tax 1,619 1,31
Slide 17: Consolidated Group Operating Revenue
Consolidated Group Operating Revenue REVENUE BY REGION Asia Pacific EMEA USA • HY2025 group revenue up 21.5% 12,837 25,109 14,871 29,347 13,490 16,396 over HY2024 with 66% revenue 31,247 growth in the Votiro business segment 9,628 • Senetas segment revenue up 2% 10,097 10,729 over the prior period w
Slide 18: Cash Flow
Cash Flow Summary Cash Flow Statement Half year ended 31 December 2024 ($000’s) HY2025 HY2024 Receipts from customers 15,361 15,301 Tax refund/(paid) (16) (22) Payments to suppliers & employees (17,907) (19,607) Operating cash flows (2,453) (4,268) Investing cash flows (300) (119) Financing cash flo
Slide 19: Balance Sheet
Balance Sheet Summary Balance Sheet Half year ended 31 December 2024 ($000’s) HY2025 FY2024 Cash and cash equivalents 8,801 9,421 Trade and other receivables 12,361 11,738 Inventories 4,639 4,308 Goodwill & intangible assets 4,377 5,295 Total assets 33,820 34,937 Trade and other payables (6,075) (5,
Slide 20: Disclaimer
Disclaimer This presentation ("Presentation") has been prepared by Senetas Corporation Limited (“Senetas“ or “the Company”) for the sole purpose of providing general and background information on the Company. Nothing contained in this Presentation is or should be relied upon as a representation as t