How to buy shares in Acusensus Limited
Acusensus is improving road safety through advanced imaging and AI-enabled solutions used in camera-based “enforcement units”.
Acusensus Limited is planning to further develop its camera technology and business reach through funds from their recent ASX listing. From its founding in 2018 they’ve seriously kept their eyes on the road ahead.
The company uses radar to detect vehicles and is able to take high resolution images at exposure times of up to 50 microseconds. This allows them to capture details on those travelling up to 300 km per hour. Acusensus’ cameras are advanced enough to find illegal mobile phone use and those not wearing seatbelts in images.
The cameras also have automatic number plate recognition (ANPR) capabilities, which can distinguish licence plates to identify unregistered or wanted cars. The radar can also catch speeding. There’s potential to look at other challenges such as drivers going the wrong way, illegal overtaking and incorrect use of lanes reserved for certain types of vehicles.
This ‘Heads-Up’ solution was originally designed for night times, then the glare and reflections from sunlight were eliminated to adapt it for 24 hour use. It works in all weather conditions, coming in either fixed or movable configurations.
The AI then comes into play during the processing of all this data, and they’ve emphasised the additional privacy this brings. Their technology does initial review, meaning that over 95% of images are not even seen by humans and are deleted in real-time. The footage is anonymised ahead of review by people, who take the final look over the flagged cases. The data is only used to provide authorities with evidence during prosecution for illegal driver behaviour.
New South Wales (NSW) is currently hosting a world-first automated mobile phone enforcement program. They found over 30,000 drivers using their phones whilst driving in its first three months starting in December 2019. By expanding to 135 million annual vehicle checks by 2023, independent modelling showed they could prevent approximately 100 fatal and serious injury crashes over five years.
Acusensus have over 20 revenue-generating clients to date, 4 multi-year State or Territory Government contracts and 10 live pilot programmes overseas and domestically. FY23F revenue reached $37m and EBITDA amounted to $3.2m, representing a Compounded Annual Growth Rate (CAGR) of 153% from FY20.
The global market for traffic enforcement solutions is estimated to be worth $1.76b in 2021 and could grow to $7.56b by 2026. Acusensus has only just turned onto the highway.
Acusensus is available to trade on Stake under the ticker ACE.