• Launched new AI-powered solutions for real-time movement analysis and visitor navigation
• Strengthened security framework and achieved industry certifications
• Appointed new CTO and Company Secretary to drive growth and governance
• Delivered $3.7M in cost savings, improving EBITDA and cash flow performance

Beonic Limited reported its interim financial results for the half-year ended 31 December 2024 (1H FY25). The company generated total revenues of $10.6 million, with recurring revenues of $8.6 million, up 5% year-over-year. Beonic made significant strides in product innovation, launching new AI-powered solutions such as Beonic Replay for real-time and historical movement analysis, and Beonic Display for AI-powered visitor information and wayfinding. The company also strengthened its security framework, achieving industry certifications and implementing advanced threat detection and zero-trust measures. Beonic appointed a new Chief Technology Officer, Marc Thompson, to accelerate product development and innovation. The company also announced the appointment of Michael Pearce as the new Company Secretary, replacing Priyamvada Rasal. Over the past twelve months, Beonic has strategically adjusted its cost structure, delivering $3.7 million in cost savings for the first half of FY25 compared to the prior corresponding period. This has resulted in an operating EBITDA profit of $769,000, compared to an EBITDA loss of $1.2 million in 1H FY24. The company's priorities for the second half of FY25 include solidifying its position as a global leader in IoT solutions, achieving financial stability through disciplined cost management, enhancing product adoption, and securing new logos while maximizing upsell opportunities.

Beonic is forecasting cashflow breakeven from operating activities during H2 FY25 and anticipates a run rate EBITDA margin exiting FY25 of between 12% and 15%.

Beonic is focused on maintaining strong year-over-year gross margin improvement while progressing toward breakeven. The company is confident that the actions taken over the last 15 months, including the appointment of new senior leaders and right-sizing the business, have positioned the company for long-term, sustainable growth.