icetana AI reported a 33% increase in annual recurring revenue to $2.6 million in Q4 FY26, driven by new product sales and expanded distribution partnerships including a key North American deal.
- Annual recurring revenue rises 33% year-on-year
- First commercial sales of Antara Core platform total $617,000
- New distribution agreement signed with SoftBank Robotics Americas
- Net operating cash outflow narrows to $134,000
- Gross margin steady at 90%, net ARR retention holds at 100%
Strong Revenue Growth Amid Product and Market Expansion
icetana AI (ASX:ICE) closed Q4 FY26 with annual recurring revenue (ARR) climbing 33% year-on-year to $2.6 million, reflecting solid commercial momentum. Quarterly revenue also surged 37% to $648,000, underpinned by new customer wins and contract expansions. This growth was supported by a 586% jump in cash receipts from customers to $1.45 million, a significant recovery from the prior quarter’s $211,000.
First Antara Core Sales Mark a Milestone
The quarter saw icetana AI secure its inaugural commercial deployments of Antara Core, the company’s on-premise AI platform launched in April 2026. Two orders from Millennium Services Group, an Australia-based partner backed by SoftBank Robotics, totalled $617,000 over five years. This deal also introduced the platform’s floor hazard and slip-and-fall detection capabilities, a new feature set for icetana AI’s portfolio. These sales represent a critical step in transitioning Antara Core from launch to revenue-generating product, positioning the company to capture demand for private, scalable AI solutions in security operations. The platform’s performance gains, including a 75% reduction in latency and a 50% increase in camera capacity per server, further enhance its appeal for large-scale deployments.
Expanding Global Footprint with SoftBank Robotics Americas
icetana AI broadened its international reach by signing a distribution agreement with SoftBank Robotics Americas Inc., marking the fifth regional deal under the global SoftBank Robotics partnership. This agreement extends icetana AI’s presence into the lucrative North American security market. SoftBank Robotics Americas has already placed its first order, with local training and proof-of-concept activities underway. The partnership continues to fuel growth in Japan as well, where ARR reached approximately $680,000 in the first year of exclusive distribution, including a $250,000 order from Reliance Service Corporation, a leading security firm listed on the Tokyo Stock Exchange.
Stable Margins and Improved Cash Flow
Gross margin remained robust at 90%, consistent with the previous quarter, while net ARR retention held steady at 100%, despite a slight 8% quarterly decline attributed to currency headwinds from a weaker US dollar. Notably, net operating cash outflow narrowed dramatically to $134,000 from $1.2 million in Q3 FY26, reflecting improved cash management and operational efficiencies. The company ended the quarter with $4.8 million in cash, bolstered by a $4.0 million placement earlier in the year, providing a solid runway to fund ongoing product development and partner network expansion.
Product Innovation and Market Engagement
icetana AI continued to enhance its AI detection capabilities, adding new classes such as aggressive behaviour, obscured face, raised hood, and shoplifting indicators, complete with operator explainability previews. The company also improved its Watch Agent feature to intelligently balance AI compute loads, enabling multi-thousand-camera deployments. Marketing efforts included a customer engagement trip to Kuala Lumpur, producing a testimonial video with 1Utama Shopping Centre and reinforcing traction in the Malaysia retail sector. Additionally, icetana AI achieved Genetec Gold Partner status, joining a global marketing programme to further amplify its market presence.
Bottom Line?
icetana AI’s blend of product innovation, strategic partnerships, and improving cash flow sets the stage for scaling its AI security platform across key global markets.
Questions in the middle?
- Will Antara Core sales accelerate beyond initial deployments to become a meaningful revenue driver?
- How will currency fluctuations continue to impact ARR retention and reported revenue?
- Can the SoftBank Robotics Americas partnership unlock sustained growth in North America’s competitive security AI market?