• Third consecutive quarter of positive cash from operations, net debt reduction
• Solid growth in underlying earnings, reduced opex driving scaleable business model
• Momentum in North America with significant contract wins, now 26% of revenue

SenSen Networks Ltd (ASX:SNS) reported positive momentum across key metrics in H1 FY25. The company recorded record first half cash receipts of $6.3M, up 3.6% (14% excluding Gaming) over the prior corresponding period (PCP). Underlying Earnings (EBITDA excluding share-based payments) improved $0.5M over PCP to ($0.1M), while total expenses reduced $0.5M (7%) over H1 FY24, driving a scaleable business model. Operating cash flow for the 6 months improved $1.0M (164%) over PCP, following three consecutive cash flow positive quarters. Debt was reduced $1.2M (52%) over PCP to $1.1M, with cash of $1.7M resulting in net cash of $0.6M. The company's focus on its Smart Cities business has paid off, with revenue from this segment growing 9% and cash collections growing 14% over PCP (excluding Gaming). Significant contract wins in North America, including in Calgary, Montreal, and Toronto, have increased the region's revenue share from 21% to 26% compared to H1 FY24. The company is also developing a new pole-mounted camera solution to expand its kerb monitoring offering to local governments.

SenSen expects to deliver significant projects in Canada in 2025, which are expected to contribute to continued growth in revenue and cash collections.

SenSen is well-positioned for accelerated growth in North America, with its technology currently in use in 16 Canadian and 6 US cities, and a growing partner network across the USA and Canada. The company is also developing new product offerings to expand its kerb monitoring capabilities for local governments.