Ann: Half Yearly Report and Accounts, page-10

Delving past the headline results, the important details are in the Notes on page 15

Major customers
During the half-year ended 31 December 2024, approximately $4.82 million of the consolidated entity's externalrevenue was derived from sales to two United States customers. No other single customers contributed 10% or moreof the Company’s revenue for the half-year.

Subscription and project revenue 6,986,398 2,447,192

First of all, $4.82M came from just two US customers and secondly the company has not broken down subscription versus project revenue (the beauty of the condensed financial report I guess) thus we have no visibility if the revenue is recurring or not.

Great progress, but still a wait and see in my opinion.