Acusensus Limited has announced a $30 million equity placement to bolster its balance sheet, alongside winning a landmark $34 million contract in Connecticut, marking a significant step in its US expansion. The company also reported multiple contract expansions in Australia and a new debt facility to support its growth ambitions.
- Raised $30 million via equity placement at $1.50 per share
- Secured first major US automated work zone speed contract in Connecticut valued at US$22.6 million
- Expanded speed enforcement contracts in Queensland and Western Australia
- Established new $5 million revolving credit facility with Citibank and additional accordion and guarantee facilities
- FY26 revenue guidance of $83-87 million, driven by international growth and contract mobilization
Strategic Capital Raise to Fuel Growth
Acusensus Limited, a pioneer in road safety enforcement technology, has announced a $30 million equity placement priced at $1.50 per share, targeting professional and sophisticated investors. This non-underwritten placement represents approximately 14.1% of the company's current issued capital and is designed to strengthen the balance sheet ahead of anticipated contract wins and operational scaling.
The funds will be allocated to business development, contract mobilization, fixed asset purchases, product innovation, working capital, litigation-related costs, and equity raising expenses. Joint Lead Managers Morgans Corporate Limited and Canaccord Genuity Australia Limited facilitated the placement, which received strong support from both existing and new institutional investors, enhancing Acusensus’ market liquidity and institutional ownership.
Breakthrough US Contract and International Expansion
Marking a significant milestone in its international growth strategy, Acusensus secured its first major automated work zone speed enforcement contract in Connecticut, USA. Valued at approximately US$22.6 million (around A$34 million), this five-year contract commenced in November 2025 with full operations expected early in 2026. This contract is Acusensus’ third state-level program in the US, following Arkansas and Kentucky, and represents its largest US contract to date.
Alongside the Connecticut win, Acusensus has expanded its footprint in New Zealand with a five-year mobile speed camera contract valued at NZ$92 million, and continues to grow its presence in the UK and other US states. The company’s international revenue surged 104% year-on-year in FY25, underscoring the success of its global expansion efforts.
Domestic Contract Growth and New Debt Facility
Domestically, Acusensus has secured multiple contract expansions. Queensland’s Department of Transport and Main Roads agreed to double the number of speed enforcement trailer units, adding an incremental contract value of $16.6 million over five years. Western Australia’s Road Safety Commission increased its multi-function enforcement trailers by two units and converted its fixed site program into a long-term contract valued at approximately $8.7 million over five years, with options to extend.
To complement its equity raise, Acusensus established a new debt facility with Citibank N.A., including a $5 million revolving credit facility, a $10 million accordion facility, and a $10 million bank guarantee and letter of credit facility. The three-year term facility is secured against company assets and includes financial covenants such as interest cover and net leverage ratios, providing additional liquidity to support growth initiatives.
Innovation and Litigation Landscape
Acusensus continues to invest in innovation, notably through its Forsite Predictive Safety platform launched in October 2025. Forsite extends the company’s AI and sensing technology into worker protection, targeting connected, predictive safety solutions for infrastructure and fleet operations.
However, the company faces ongoing litigation risks, including proceedings initiated by Redflex Traffic Systems and OneTask Pty Ltd related to intellectual property disputes. These legal matters remain unresolved, with a trial date set for April 2026 in the Redflex case. Acusensus is actively managing these risks while pursuing its growth strategy.
Outlook and Market Position
Acusensus projects FY26 revenue between $83 million and $87 million, reflecting a 40-46% increase driven by contract expansions and international mobilizations. The company’s strategic focus on multi-function enforcement solutions addressing critical road safety issues positions it well for sustained growth. Nonetheless, contract renewals, tender outcomes, and litigation developments remain key factors to watch.
Bottom Line?
With a strengthened balance sheet and a landmark US contract, Acusensus is poised for accelerated growth, but legal and contract renewal risks warrant close attention.
Questions in the middle?
- How will ongoing litigation with Redflex and OneTask impact Acusensus’ intellectual property and financial position?
- What are the prospects for renewal or expansion of key contracts, especially the NSW Mobile Speed Camera program expiring mid-2026?
- How effectively can Acusensus scale its US operations following the Connecticut contract win?