KEY HIGHLIGHTS DURING THE QUARTER• 16% higher Monthly Recurring...

KEY HIGHLIGHTS DURING THE QUARTER

• 16% higher Monthly Recurring Revenue (MRR) in June 2022 ($257K) compared to March 2022,
with forecast MRR of $340K-$380K in September 2022.
• Commencing FY2023 with a resilient balance sheet and an opportunity pipeline at least three times
its forecast MRR and total revenue targets following the recent expansion of sales resources
across the UK, Europe, Middle East and Africa, and U.S. regions to complement the existing APAC
sales team.
• In addition to growing and diversifying revenue streams, core focus is on disciplined spending to
reduce the cash burn rate and extend the cash runway. Net operating cash outflows were
significantly reduced to $2.19m in the June quarter, down from $3.65m in the March quarter.
• $4.5m cash at bank on June 30, 2022, exclusive of $1.0m committed placement proceeds from
directors.
• Signed a reseller agreement with RSM Australia, a 100-year-old professional services company
promoting technology to improve efficiency and sustainability, and reduce costs, for its
customers across a range of industries and government.
• In partnership with Inmarsat Aviation, delivered a new innovative solution to livestream highquality video at less than 100kbps for beyond visual line of sight operations for small
commercially deployed drones.