Aeeris Disaster Warning Operator Tips Revenue Growth After Restructure

Aeeris have said that the Company is set for a year of growth and improved performance for 2017.

Aeeris ended the quarter to December 31 with $1.29 million cash in hand. The Company shared their their net cash improvement of $178, 480 compared to its cash burn of $625, 170 from the previous quarter. It netted total cash receipts of $876,439 which included a $589,057 research and development tax rebate.

The Company undertook a two-month review and cut staff during FY16 with a loss of $1.74million, more than double the $722,216 loss of the previous year.

Aeeris, headed by tech entrepreneur Kerry Plowright, explained this loss was largely due to spending money on software development to attract larger clients and more business.

Its operational review boosted income, simplified its product offering and sped up the sales cycle, Aeeris said in its quarterly review.

“The company was focused during the reporting quarter on a significant restructure of operations aimed at reducing operating costs and cash-burn, and enhancing prices, sales activity and revenue,” Aeeris said.

“The process has now been completed and improved financial performance is expected during the year ahead.”

Aeeris said greater focus on sales and marketing has driven new customers to its core products and services along with also signed a string of new customers in the quarter.These include an emergency weather warning service for Logan City Council, a dam release and flood warning app for SEQWater, a major unnamed insurance broking group, a large metropolitan water utility and an automotive services group.

Aeeris has also been working on a new technology platform and building software which it expects to boost its bottom line. From this, the Company is hoping to create new revenues from set-up fees and monthly annuities “from a sales pipeline that includes a range of prospective major customers”.