It’s raining contracts for technology-enabled care solutions company Talius Group (ASX: TAL).
The Company has received purchase orders to supply its assistive technology solutions to ADT New Zealand, a subsidiary of Intelligent Monitoring Group (ASX: IMB). From August 2024 to December 2024, ADT will provide five orders for 1,000 Personal Emergency Response Systems (PERS) units per month.
The gross revenue for the combined 5,000 units is forecast to exceed $1.5 million. At the same time, Talius has received purchase orders from new clients, including NES Electrical for Vera Living, an NDIS group home in the ACT, and it continues to have regular order flow from ADT Australia, Feros Care, and Bolton Clarke.
All services under the orders will be delivered via Talius’ Smart Care Platform as a subscription service.
Talius Managing Director Graham Russell said, “We are very pleased to partner with ADT in New Zealand, leveraging our strong partnership with their Australian operations. This order also further demonstrates Talius’ penetration in the New Zealand market and its ability to execute both domestically and internationally. We have also received purchase orders from new clients being RFBI Royal Freemasons Benevolent Institute – Aged Care, and Goodwin Aged Care.”
Talius offers solutions for the aged and disability sectors across various settings, including retirement living, residential aged care, and home and community environments, to enhance the quality of life. Its SaaS data analytics platform, Talius Smart Care, uses smart sensors and AI machine learning for automated actions and predictive analysis. It monitors indicators like sleep, vital signs, falls, daily activities, and social interaction.
Along with securing orders from its new clients, in April, Talius received an Order Commitment from Hato Hone St John (HHSTJ) in New Zealand confirming a Frame Order for the purchase of 13,500 PERs units, set to be worth $4 million.
At the end of Q3 FY24, the Company’s cash receipts from customers stood at $1.4 million, and its cash equivalents were $1.6 million. However, its revenue levels were somewhat subdued. Talius recognised revenue of $1.3 million in the quarter, a decrease of 45% on the previous quarter. Its ARR is now $2.2 million and growing as installed projects come online and it locks in new contract wins, like ADT.
Managing Director of ADT Dennison Hambling commented, “We have seen the value of our relationship with Talius in Australia and wanted to continue that same success in New Zealand. ADT sees the significant opportunity in assistive technology to the Health and Aged Care sectors and our partnership with Talius is part of ADT executing on that strategy.”
The new relationships highlight Talius’s impact on the sector and represent its strong sales pipeline conversion as it moves towards profitability. Talius’s subscriptions continue to grow, and it is now closing in on 35,000, with more to come.
Going forward, for FY24, the Company’s mission is to expand its presence in New Zealand and ASEAN and forge new commercial pathways.
Alinda is a Business Reporter for The Sentiment
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