icetana AI secures its largest ever Australian sale

Highlights:

• icetana AI has received an order for its AI software solution from new Australia-based partner Millennium Services Group (“Millennium”).
• Millennium is a security and cleaning services operator in which icetana AIpartner and significant shareholder, SoftBank Robotics holds a controlling stake.
• The contract value is $376,000, to be billed as software-as-a-service (“SaaS”) over an initial contract period of 60 months.
• The end user is a large retail shopping centre in northeast Queensland.
• Initial deployment of this order is expected next quarter.

icetana Limited (ASX:ICE “icetana AI” or “the Company”), a company building self-learning security AI software designed for large-scale surveillance networks and Security Operations Centers, has received an order for software to be provided to its new partner Millennium, an Australian security and cleaning services operator.

Millennium is one of Australia's largest national integrated service providers, in which icetana AI’s strategic partner and significant shareholder SoftBank Robotics holds a majority shareholding. It provides security and cleaning services to over 100 major shopping centres across Australia and New Zealand.

The order has an aggregate value of $376,000 and is for an initial contract term of 60 months. The end user is a large retail shopping centre in northeast Queensland of over 107,000sq metres and 345 shops.

icetana AI is already a well-known and trusted provider in the shopping mall security segment, and this sale is the Company’s largest to date in Australia.

The contract is priced on a SaaS basis and will add $75,200 to the Company’s annual recurring revenue (“ARR”).

Chief Executive Officer Kevin Brown said:

“We welcome Millennium Services Group as a new partner in our home market of Australia and look forward to a fruitful on-going relationship. This sale is further evidence of our ability to leverage our partnership with SoftBank Robotics into new sales and ARR growth. Our go-to-market is focussed on security integrators servicing large shopping malls, and this later deployment will further cement our reputation in this segment.”

Material terms of commercial arrangements:

• The contractual arrangement disclosed in this announcement is between icetanaAI and Millennium Services Group Limited.
• Licensing will begin once the software is implemented, which is anticipated to occur during the March 2026 quarter.
• Payment terms are five years in advance, with initial payment due 30 days from invoice. The Company does not have an existing trading relationship with this partner and so there is no payment history to rely on in assessing the trade credit risk of the partner.
• The order is for a total contract value of $376,000 + GST. Ongoing revenues beyond this initial period will be subject to a customer renewal. Going forward it is therefore possible that no revenue over and above the initial order value materialises pursuant to this commercial arrangement.

Read the full ASX announcement here

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