• Recurring revenues from SaaS subscriptions and maintenance fees now represent 96% of total revenue
• Secured $3.6 million strategic partnership with SoftBank Robotics Group
• Acquired remaining minority interest in UAE subsidiary

The year ended 30 June 2025 marked a pivotal transition for icetana AI as the company sharpened its focus on building a resilient, high-margin recurring revenue base while continuing to expand its global footprint. Although total sales revenue declined compared to the prior year, primarily due to the absence of FY24's exceptional non-recurring hardware and perpetual licence sales, the quality of the company's revenue base has significantly improved. Recurring revenues from SaaS subscriptions and maintenance fees now represent approximately 96% of total revenue, up from 26% in FY24. This transition reinforces icetana AI's evolution into a true software-as-a-service company, better positioning it for sustainable growth and margin expansion. The company's technology continues to prove itself in enterprise-grade environments, now supporting over 16,000 surveillance cameras across more than 70 active sites worldwide. The year also delivered a landmark $3.6 million strategic partnership with SoftBank Robotics Group, which not only brought SoftBank Robotics in as an equity partner but also granted them exclusive distribution rights in Japan, positioning icetana AI to accelerate penetration into one of the most advanced security technology markets globally. Furthermore, the acquisition of the remaining minority interest in the company's UAE subsidiary consolidates its international operations and provides a stronger platform for growth in the Middle East. Importantly, icetana AI remains financially robust, with net current assets of $3.44 million and nil debt at year-end, supported by successful share placements in February and June 2025.

Customer prepayments for annual subscriptions grew to $1.66 million as at 30 June 2025, reflecting the confidence the company's clients place in its solution and providing a solid foundation for FY26 revenue recognition.

Looking ahead, icetana AI's focus will remain on leveraging partnerships, expanding into new industry verticals, and further scaling the SaaS business model.