Melbourne Australia – 31 July 2024: Linius Technologies Limited (ASX:LNU) (Company or Linius) is pleased to provide its Quarterly Activities Report and Appendix 4C for the quarter ending 30 June 2024, along with the following financial and operational update.
Highlights:
- Quarterly billings of $181,600, 42% higher than Q4FY23. Importantly, 94% of billings were from recurring fees
- Year-to-date billings through Q4 of $760,300, 57% higher than the prior year period, and YTD cash receipts of $748,000 up 51% over the prior year period
- Forged key industry partnerships to scale revenue growth
- In April, signed partnership with Magnifi, leading provider of AI-driven automated highlights
- After launch and rapid adoption of our auto-highlights product, we gained the attention of and now partnered with the #2 provider in this space
- Together, Linius and Magnifi have a highly differentiated solution, well positioned to disrupt the automated highlights market
- Magnifi will integrate and resell Linius Whizzard as their solution for archives as well as Linius Captivate personalised video product for fan engagement
- Linius gains access to advanced AI technology for metadata and curation
- Initial product integration and go-to-market planning are complete, with both companies now executing on opportunities with existing and new clients. Multiple proposals are in with potential customers
- Magnifi is targeting its existing installed base of global broadcast and federation customers with upsell opportunities for these new solutions
- Joint solution was demonstrated at the National Association of Broadcasters (NAB) Show in Las Vegas in April 2024
- Integration license agreement with Avid
- With Whizzard disrupting archive search and curation workflows, it makes perfect sense to integrate into professional editing suites from industry leaders like Avid
- Linius is one of the first partners to access the new SDK for Avid Media Composer, which will embed Whizzard into Media Composer UI and workflows, exposing Whizzard to Avid’s customer base of most major broadcasters and federations.
- Integration is scheduled to be complete and demonstrated at upcoming IBC tradeshow in September
- In June, Linius went live with its first deployment in American football
- Linius Whizzard is now live with users at Lone Star Conference (LSC) for their American Football and basketball content from the 2023 season onwards
- LSC, Linius’ second customer in the US college sports market, signed a 3-year agreement in April 2024 covering football and basketball
- LSC using Whizzard to curate highlights and for automated highlights of all games
- Deployment marks the first use of Linius solutions in American football, one of the most highly monetized sports globally
- Reduced deployment time driving cost efficiencies for future growth in this market
- Significant opportunity for Linius in US college sport as NCAA has 150 conferences and 1,100 schools
Linius CEO James Brennan commented, “Q4 was focused on executing our strategies to scale revenue more rapidly in FY25. By far, the most important achievement in Q4 was our partnership with Magnifi, the #2 and fastest growing provider in the automated highlights segment. The combination of Linius’ highly efficient virtualized video and data-driven, personalized video assembly with Magnifi’s AI-driven live highlights solutions creates a combined solution that is set to disrupt the automated highlights segment. Through the quarter, we executed technical, product, and commercial integrations, with both companies now actively developing multiple joint opportunities with existing and new clients. We look forward to sharing the first successes from this partnership early in FY25.”
“Additionally, we further penetrated the US college sport market, deploying our second college conference and our first live deployment for American Football, the sport that generates more revenue than any other globally. The football content for LSC looks amazing and truly showcases the power of Whizzard and Whizzard Highlights. We are also excited that existing customer PBC has chosen to expand their Whizzard deployment, adding men’s and women’s soccer in the fall.”
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