• Votiro sale to Menlo Security Inc. announced
• Good growth in consolidated group revenue
• Senetas segment profit before tax up 31%

Senetas Corporation Limited reported its 2025 half-year results, highlighting several key points. The company announced the sale of its Votiro business to Menlo Security Inc. on 20 February 2025, with Votiro's operating results continuing to be consolidated into Senetas' results for HY2025. The consolidated group revenue was up 22%, with Senetas operating revenue up 2% and Votiro operating revenue up 66%. Senetas segment profit before tax was up 31% to $1.9 million, and gross margins were up to 87%. Votiro segment loss before tax was down 41% to $5.6 million. The net loss after tax attributable to members was down 64% to $1.4 million, driven by the growth in Senetas profit and a lower Votiro loss. The company expects good customer sales of Senetas products to be maintained through the remainder of FY2025, with the customer sales pipeline providing solid momentum. Some key sales opportunities in the Middle East may provide upside to expected FY2025 revenue, but the timing remains uncertain. The company is also increasing its investment in and opportunities relating to embedding Senetas encryption on Autonomous Vehicles (Drones) and working with a US multinational company on potential AUKUS projects. The Senetas board will consider capital management options as cash proceeds from the Votiro transaction are realized.

The company expects good customer sales of Senetas products to be maintained through the remainder of FY2025, with the customer sales pipeline providing solid momentum. Some key sales opportunities in the Middle East may provide upside to expected FY2025 revenue, but the timing remains uncertain.

The outlook for the Senetas operating business remains strong, with good profit and cash flow expected to continue. The company is also increasing its investment in and opportunities relating to embedding Senetas encryption on Autonomous Vehicles (Drones) and working with a US multinational company on potential AUKUS projects.