SenSen Networks Ltd. (AU:SNS) has released an update.
SenSen Networks Ltd. has undergone a major cost restructure, reducing global headcount to 74 and targeting cash flow positivity from Q4 2024, after a cash-flow negative Q3 in line with prior forecasts. The company also reported significant business growth with new customer acquisitions and an expansion of its AI-powered fuel theft reduction solution, now servicing over 600 fuel retail outlets in Australia. Financially, SenSen experienced a year-to-date improvement in operating cash flows and expects most payments from its largest deployment yet for the NHVR to be received by June 2024.
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