SMX reports record receipts in landmark final quarter
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Security Matters’ reputation as a global leader in the digitised circular economy is starting to pay off with customer receipts breaking all kinds of quarterly records.
Security Matters (ASX:SMX), the Aussie-led innovator focused on marking and digitising objects to facilitate the development of the global circular economy, has announced record customer receipts for the final quarterQ4.
In its quarterly update, SMX has delivered total customer receipts of $515k for Q4 FY2021, a more than 55% increase on the same period a year earlier.
Total receipts for FY 2021 were $1.56 million, up more than 75% from $884k in FY2020.
The Company has shown again cash stability strategic long-term planning and is cash sufficient and highly stable.
The agreement will see both companies collaborate on a series of projects focusing on the traceability of origin for the raw materials used in LVMH Métiers d’Art’s supply chain.
Further SMX integrated its organic cotton project into its Fashion Sustainability Competence Centre, which provides a platform for companies to utilise SMX’s digital twin technology to enable the transition for linear to circular economy platforms and to engage in the digital world with their clients through enhanced tracking and tracing of textile materials through the supply chain.
Security Matters continued to advance its reputation as a leader in the digitised circular economy globally through industry awards and developing a pipeline of strategic partnerships in Q4 FY 2022.
The company was awarded the 2021 Global Waste Management & Recycling Digitalization Technology Innovation Leadership Award by globally respected reputable consulting company, Forrest and Sullivan, a testament to its breadth of activity in the recycling innovation space over the past 12 months.
GPSNR is a voluntary membership organisation that brings together organisations, companies, societies, institutions, and government agencies to help foster improvements which have socio-economic and environmental benefits across the natural rubber supply chain.
The end-to-end plastic circular economy digital platform service combines all three of the firm’s unique tech IP for the plastic industry into a single, interconnected platform service.
It will enable companies within the plastic industry to grade, certify and comply with global ESG regulations.
Investing activities for the quarter were $251k for intellectual property and $224k for property and equipment. The IP expenses include software developments and costs related to patents.
The software costs covered the development of a blockchain platform and the completion of the software development for an independent reader.
SMX has also achieved several operational and commercial objectives in Q4 2021. The company launched a circular sustainable solution for the forest, lumber, and wood Industry.
The company started field trials following its successful year of research and lab trials in the marking of seeds and plants to provide an end-to-end solution from seed to plant–- to product–- to recycle and reuse.
SMX is in the process of launching its forest, lumber and wood operations focusing on eucalyptus gum trees and a species of pine, which will provide several benefits including enabling growers to comply with the European Green Deal Regulations and provide proof of evidence of sustainable plantations along with monitoring their assets for insurance purposes.
Founder and CEO Haggai Alon said in 2022 SMX will use its strong balance sheet this year to progress ongoing commercialisation and roll out the technology for commercial long-term agreements.
He said SMX would stay vigilant and resilient amid the uncertain global economic environment disrupted by the ongoing COVID-19 pandemic.
“Driven by its long-term vision and innovativeness, SMX will continue to offer its clients the ability to transform from linear to circular production. SMX provides the ability to deliver results today on using greater amounts of recycled content and meeting sustainability KPIs”
This article was developed in collaboration with Security Matters, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.