Linius Technologies has appointed Ben Taverner as CEO and secured key partnerships and customers, including Brown University and Fujitsu, setting the stage for significant growth in FY25.
- Appointment of Ben Taverner as new CEO with extensive sports and entertainment experience
- New 3-year contract with Brown University, first Ivy League client in US college sports market
- Strategic partnership with Fujitsu to integrate AI and video solutions across multiple sectors
- Launch of Captivate product driving larger deals and expected recurring revenue growth
- Convertible notes issued and $1.5 million standby equity facility available for funding
Leadership Change Signals Strategic Focus
Linius Technologies Limited (ASX:LNU) has announced the appointment of Ben Taverner as its new Chief Executive Officer, effective 1 February 2025. Taverner brings a wealth of experience from leading roles within international sports organizations and technology providers such as IMG, Juventus Football Club, and KORE. His exceptional global network within the sports and entertainment industries positions Linius to accelerate its market penetration and revenue growth.
Expanding Footprint in US College Sports
In a notable customer win, Linius secured a three-year agreement with Brown University, marking its entry into the prestigious Ivy League and NCAA Division 1 collegiate athletics. Brown University has deployed Linius’s Whizzard and Whizzard Highlights solutions to automate video curation and highlight reel production for men’s and women’s basketball seasons. The rapid deployment underscores the scalability of Linius’s technology in the competitive US college sports market, where efficient content creation is increasingly vital.
Strategic Partnership with Fujitsu
Linius’s strategic partnership with Fujitsu, signed in October 2024, is progressing well. Fujitsu, Japan’s leading digital services company, is integrating Linius’s video virtualization technology with its AI platforms. This collaboration targets diverse applications including school safety, airport and transportation monitoring, retail security, and policing. The partnership opens substantial revenue opportunities for Linius across global markets beyond sports and entertainment.
Product Innovation Driving Revenue Potential
The launch of Captivate, a personalized and socially-centred viewer engagement solution, represents a significant evolution in Linius’s product suite. Captivate addresses the critical challenge of viewer engagement lost to social media platforms by combining broadcast-grade content with highly personalized experiences. Early sales cycles indicate larger deal sizes with broadcasters and sports federations, with Captivate expected to substantially increase recurring revenue in FY25 and complement existing products like Whizzard.
Financial Position and Funding Outlook
For the quarter ending 31 December 2024, Linius reported modest increases in cash receipts and billings, despite some payment delays. The company incurred $399,000 in R&D expenses, reflecting ongoing platform development and new product launches. Importantly, Linius issued $695,000 in convertible notes during the quarter and retains access to a $1.5 million standby equity facility, providing financial flexibility to support growth initiatives. The board remains confident in the company’s ability to continue operations and meet business objectives.
Outlook
Chairman Gerard Bongiorno expressed optimism about the company’s trajectory, highlighting the strong pipeline, strategic partnerships, and the foundation laid for CEO Ben Taverner to drive market share expansion. With a focus on scalable SaaS solutions and monetization at the viewer engagement level, Linius is positioning itself for substantial growth and a path toward profitability in FY25.
Bottom Line?
With a new CEO at the helm and strategic partnerships in place, Linius is set to transform its growth ambitions into tangible market gains.
Questions in the middle?
- How will Ben Taverner’s leadership influence Linius’s expansion in the competitive US sports technology market?
- What are the timelines and revenue expectations tied to the Fujitsu partnership across non-sports sectors?
- Can Captivate sustain momentum and convert late-stage sales opportunities into long-term recurring revenue?