RemSense Powers Ahead with Cashflow Positive Quarter and Global Contract Wins

Robust Financial Performance

RemSense Technologies Limited (ASX: REM) reported a strong Q2 FY2025, marking a significant milestone with a cashflow positive quarter and net cash on hand rising to A$431,000. Customer receipts surged 78% quarter-on-quarter, reaching A$1.18 million, with an additional A$1.08 million received shortly after the quarter ended. This financial momentum underscores the growing market acceptance of RemSense’s virtualplant platform and its expanding footprint in industrial digital transformation.

Global Contract Execution and Market Validation

The quarter saw RemSense successfully complete multiple high-profile projects, including two major Liquefied Natural Gas (LNG) operations in northwest Australia valued at A$1.45 million. Additionally, the company delivered advanced reality capture scanning and photogrammetry for a Tier 1 Oil and Gas Floating Production Unit in the U.S. Gulf of Mexico, with plans underway for ongoing model maintenance collaboration. A challenging South Asia project was also completed on time and within budget, further validating RemSense’s operational capabilities in diverse and demanding environments.

Strengthening Client Relationships and Renewals

Highlighting client trust, Newmont Mining renewed its annual subscription for RemSense’s virtualplant platform at the Boddington Gold operation. This renewal reflects the platform’s proven value in enhancing operational safety, productivity, and cost efficiency. The company’s ongoing collaborations with Chevron and academic institutions such as the University of Western Australia demonstrate a strategic approach to innovation and partnership development, particularly in integrating immersive 3D models and advanced asset identification solutions.

Innovation and Product Development

RemSense continues to invest in enhancing virtualplant’s capabilities, notably improving coordinate transformation and geolocation functions within its Asset Audit AI-driven application. These upgrades enable the platform to manage larger data volumes with improved scalability and performance. The company also expanded its Remotely Piloted Aircraft Systems (RPAS) services, developing bespoke water sampling solutions for challenging environments, including deep abandoned pits, supporting clients’ environmental compliance needs.

Growth Opportunities and Strategic Outlook

With a robust sales pipeline spanning oil and gas, mining, and industrial sectors, RemSense is actively pursuing pilot projects with leading producers in aggregates, cement, and bitumen. Notably, advanced discussions are underway with a Tier 1 Oil and Gas producer for a pioneering collaboration on infrastructure decommissioning and demolition, leveraging RemSense’s advanced imagery technology. These initiatives align with the company’s vision to deliver actionable insights that drive safer, more efficient industrial operations and reinforce its position as a leader in asset visualisation technology.