December 2024 Quarterly Activities and Cash Flow Report

Key points

• Cashflow positive quarter with net cash on hand of $431K
• Customer receipts up 78% quarter-on-quarter to $1.18M
• Successfully delivered multiple global contracts on time and budget

Full summary

RemSense Technologies Limited (ASX:REM) had a highly productive quarter, successfully completing and invoicing numerous domestic and international projects valued at A$1,583,316 and US$311,705, respectively, resulting in a total approximate value of A$2,078,086. The company completed onsite reality capture scanning and high-resolution photogrammetry imagery processing for two Liquefied Natural Gas (LNG) operations in northwest Australia, and delivered reality capture scanning and processing of imagery for a Tier 1 Oil and Gas company's Floating Production Unit (FPU) in Deepwater U.S. Gulf of Mexico. RemSense also successfully completed a challenging South Asia project under difficult environmental and physical conditions. The company is pleased to report the renewal of Newmont Mining's Boddington Gold operation's annual virtualplant subscription. RemSense continues to experience significant interest in its virtualplant product and services, with a growing and robust sales pipeline spanning the Oil and Gas, mining, and industrial sectors. The company is actively exploring avenues for growth and diversification into new industries, and is progressing advanced discussions to conduct pilot projects with several organisations, including leading international producers of aggregates, cement, and bitumen. RemSense remains focused on building strategic partnerships to expand its sales capacity both internationally and domestically, positioning the Company for continued growth and market leadership.

Guidance

RemSense reported net cash on hand of $431K as of 31 December 2024, with customer receipts up 78% quarter-on-quarter to $1.18M and further cash receipts of $1.08M received post-quarter end.

Outlook

RemSense continues to experience significant interest in its virtualplant product and services, with a growing and robust sales pipeline spanning the Oil and Gas, mining, and industrial sectors. The company is actively exploring avenues for growth and diversification into new industries, and is progressing advanced discussions to conduct pilot projects with several organisations.