• Sale of Votiro business announced in February 2024 for cash and shares in Menlo Security Inc.
• Consolidated group revenue up 21.5% to $16.4 million
• Senetas segment revenue up 2.0% and profit before tax up 31% to $1.9 million

Senetas Corporation Ltd (ASX: SEN) announced its results for the six months ended 31 December 2024 (HY2025). The key developments include the sale of the Votiro business to Menlo Security Inc. in February 2024 for cash and shares, consolidated group revenue up 21.5% to $16.4 million, and the Senetas segment reporting a 2% increase in revenue and a 31% increase in profit before tax to $1.9 million. The Votiro segment revenue was up 66% to $6.9 million, and its loss before tax was down 41% to $5.6 million. The group net loss after tax attributable to members was down 64% to $1.4 million. Senetas had cash on hand of $8.8 million and no debt at 31 December 2024. The company expects good customer sales of Senetas products to be maintained through the remainder of FY2025, with the cash proceeds from the Votiro transaction and Senetas's ongoing exposure to Menlo having the potential to deliver substantial value to shareholders in the future.

Senetas expects good customer sales of Senetas products to be maintained through the remainder of FY2025, with higher gross margins, strong profitability, and good cash flow expected to continue.

The outlook for the Senetas operating business remains strong, with good profit and cash flow expected to continue. The cash proceeds from the Votiro transaction, plus Senetas's ongoing exposure to Menlo, have the potential to deliver substantial value to both Votiro and Senetas shareholders in the future.