"AUD$2M Multi-Year Contract with the City of Edmonton
SenSen is also pleased to announce that it has secured a ~CAD$1.94M (~AUD$2.01M) multi-year contract with the City of Edmonton, Canada.
Commencing in late May 2018, the contract covers Edmonton’s purchase of five SenFORCE mobile parking enforcement units and 19 fixed systems for four Council car parks, with upfront revenue for the systems, software and commissioning amounting to ~CAD$968,271 (~AUD$1,001,330), of which a minimum of CAD$457,843 (~AUD$474,448) will be recognised in FY18.
For the software licence and maintenance of the mobile and fixed systems, SenSen will also earn annual recurring revenues totalling~CAD$970,418 (~AUD$1,003,742) from 2019- 2022, under the five-year term of the contract."
Around AUD$200,000 per annum recurring.
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