icetana AI secured the first Antara Core sales, worth $617,000 over five yearsAnnual recurring revenue grew 33% to $2.6 million as sales momentum strengthened SoftBank Robotics expanded icetana AI’s distribution reach into North America
Special Report: icetana AI has secured the first commercial sales of its Antara Core security platform, with two five-year orders worth a combined $617,000 helping cap a quarter of accelerating revenue and international expansion.
The orders came from Australian partner Millennium Services Group, a portfolio company controlled by SoftBank Robotics (SBR), and represented the first commercial deployment of Antara Core since its April launch.
They also delivered icetana AI’s first sale of its floor hazard and slip-and-fall detection capability, broadening the commercial uses for technology originally built to spot unusual activity across large surveillance networks.
The June quarter showed that commercial progress is beginning to flow into the numbers.
“This was a strong quarter for icetana AI, with ARR up 33% year-on-year to $2.6 million and revenue growth of 37% year-on-year [to $648,000], driven by new customer wins and expansion within our existing base,” CEO Kevin Brown said.
AI that watches the cameras
Modern security centres can be responsible for thousands of camera feeds, creating far more footage than human operators can realistically monitor.
icetana (ASX:ICE) software learns what normal activity looks like for each camera, then notifies operators when it detects unusual or potentially dangerous events.
The technology is already deployed across more than 19,000 cameras at over 70 sites in more than 15 countries.
Antara Core takes that capability on-premise, supporting organisations that want private, scalable AI operating within their own security infrastructure.
The Millennium orders also cover a packaged hazard-detection capability designed to identify trip hazards and enable automated robot responses.
“We also reached two important platform milestones this quarter: the first commercial deployment of Antara Core, our new on-premise AI platform, with Millennium Services Group, and the signing of our fifth regional distribution agreement under the SBR partnership, this time covering North America,” Brown said.
SoftBank relationship opens another market
The North American agreement with SoftBank Robotics America extends the partnership into its fifth region after Japan, Australia and New Zealand, wider Asia-Pacific, and the UAE and Saudi Arabia.
SoftBank Robotics America has already placed its first order, with local training and a proof-of-concept under way.
The agreement gives icetana AI another route into a major security market without requiring it to build the entire sales and support network alone.
Japan has already provided an early example of what that distribution model can deliver.
SBR grew icetana AI’s annual recurring revenue in Japan to approximately $680,000 during its first year as exclusive distributor, including a $250,000 order for security services group Reliance Service Corporation.
A portion of that Japanese ARR was yet to be recognised at June 30, pending deployment in August 2026.
The quarter also included successful proofs of concept and contract renewals with multiple Japanese customers through Macnica and SBR.
Closer to home in Asia-Pacific, icetana AI secured an upgrade and renewal with 1Utama, Malaysia’s largest shopping mall, and continued building its presence in the country’s retail mall market.
It also achieved Genetec Gold Partner status and joined the security technology provider’s global marketing program.
More cameras from the same hardware
The sales push was backed by improvements to the underlying platform.
icetana AI cut detection latency by 75% using the latest generation of graphics processing units, meaning events can reach security teams faster.
Model optimisation also delivered around 50% more camera capacity from existing server hardware, improving the economics of large deployments.
Its Watch Agent capability can dynamically direct computing power towards camera feeds where activity is occurring, supporting installations involving thousands of cameras without treating every quiet feed as equally urgent.
“Together with continued performance gains, including a 75% reduction in latency and roughly 50% more camera capacity per server, these position icetana AI well to meet growing demand for private, scalable AI in security operations,” Brown said.
The company also added detection classes covering aggressive behaviour, obscured faces, raised hoods and indicators of shoplifting, with previews that help operators understand why the AI generated an** **icetana event.
Work continued on the next consolidated Antara release, which will add support for NVIDIA Blackwell GPUs, further Watch Agent enhancements, Relay Agent interoperability and a new platform health indicator.
Cash collections step up
Cash receipts from customers reached $1.449 million, up 586% from the previous quarter and 16% year on year.
That helped reduce net operating cash outflow to $134,000, compared with $1.2 million in the March quarter.
icetana AI finished June with $4.8 million in cash following a $4 million placement announced in April, giving it additional capacity to invest in its partner network and product roadmap.
Gross margin remained at 90%, while net ARR retention was 100%.
The latter slipped from 108% in the previous quarter, partly because a weaker US dollar reduced the Australian-dollar value of US-denominated contracts.
With the first Antara Core sales secured, a fifth SBR territory activated and more performance being squeezed from each server, icetana AI will enter FY27 with a larger distribution footprint and a broader platform to sell through it.
This article was developed in collaboration with icetana AI, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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