RemSense Technologies Limited
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RemSense Technologies Limited (REM) has developed virtualplant, a photographic asset visualisation platform that fulfills the promise of VR/AI technology as a digital representation of plant assets (digital twin) that integrates with existing business operations and asset management systems to deliver greater productivity, increased safety, and reduced cost.
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Construction & Engineering
What does RemSense Technologies Limited (REM) do and how does it make money?
RemSense Technologies Limited is the hi tech amongst the hi vis. The company provides 'fit-for-purpose' technology solutions to sectors such as oil and gas; construction and property; mining and industrial; transport infrastructure; and power and utilities.
Founded in 2012 and based in Perth, RemSense offers solutions in three distinct categories: Engineering and Innovation (EI), Data Capture and Insights (DCI) and Virtual Plant.
Engineering and Innovation (EI) helps clients “recognise opportunities to improve operations through the adoption or development of technology”. EI provides a variety of services including program management, systems engineering and integration, prototyping and 3D printing, technology evaluation, consulting, certification, and IP and technology commercialization services.
Data Capture and Insights (DCI) deploys drones and land-based technologies to capture, process and create insight-driven data sets and visualisations for clients. Some of DCI’s specialised services include 3D modelling and visualisation of complex assets, aerial-based gas detection, terrestrial scanning and thermal and multispectral imaging.
Virtual Plant is an asset visualisation platform that lets clients access, view and navigate to any location, on any device, at any time.
RemSense Technologies earns revenue from the provision of services under these three categories and reports them in a single segment. The company also receives government grants.
Is RemSense Technologies a profitable company?
By the company’s own admission, RemSense Technologies “has not reached a stage in its development where it is generating an operating profit.”
RemSense Technologies’ net loss after income tax for the half-year ending 31 December 2020 was A$946.5k. However, the company’s cash position was still A$3.7m.
Financial data is currently limited as the company listed on the ASX on 2 November 2021.
Is REM stock a buy?
Positive investor sentiment upon the company’s IPO on 2 November 2021 propelled the REM stock price from A$0.2 to A$0.45, a huge leap of 125%. Over the following week, the stock dipped but eventually found its way to a January 2022 high of over A$0.70. From there, the REM share price dropped over 50% to an April 2022 low of A$0.25.
Geopolitical tensions and macroeconomic pressures have not helped REM stock, even as the company has signed agreements with global partners such as IBM and SAP Ecosystems.
Some investors remain bullish as the company’s revenue grew from A$2.17m in FY2020 to A$4.3m in FY2021. The company also has a reasonable amount of cash and no debt.
Other investors remain cautious as the company is still in its infancy and unprofitable.
Does REM stock pay dividends?
No, the company’s directors have recommended against paying dividends for the time being.
Who owns REM stock?
At 68.9% of the total float, individual insiders own the overwhelming majority of REM stock. The general public comes in second, holding 24.6%.
Some shareholders with the most stock include former Director Richard Pace (18.36%), General Manager of Operations Adrian Hollis (16.12%), MD & CEO Stephen Brown (15.83%), former Director John Clegg (9.67%), Craig Carter (2.51%), Christian Ogeneski (1.48%), MBA Investments (1.04%) and Lobster Pot Investments (1.02%).
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This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.