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iCetana Ltd. ( (AU:ICE) ) has issued an update.
icetana Limited has announced a $2.65 million rights issue, underwritten by its second-largest shareholder, to support its operations. Despite a decline in annual recurring revenue due to a customer exit, the company secured over $500,000 in new orders and maintained a net ARR retention of 98%. The quarterly revenue saw a significant drop, attributed to the absence of a large hardware sale from the previous year. The company continues to focus on cost control while expanding its market presence, especially in the Middle East and Asia Pacific. A potential large-scale deal in Iraq could further bolster its standing.
More about iCetana Ltd.
icetana Limited is a company specializing in artificial intelligence video analytics software designed to assist security and IT teams in managing large-scale surveillance networks.
YTD Price Performance: -25.00%
Average Trading Volume: 543,581
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$3.97M
Learn more about ICE stock on TipRanks’ Stock Analysis page.
