archTIS’ wins landmark $4.2 million Australian Department of Defence Joint Capabilities Group Contract

archTIS has secured a landmark contract with the Department of Defence to perform a risk reduction activity for multi-national information sharing and cross domain services.

The total contract value is $4.2 million which includes three licenses of archTIS Kojensi enterprises platform (600 users) and associated implementation services.

The risk reduction activity will be conducted over the next 12 months and will include development, building and accreditation activities to provide Defence with an information sharing architecture pattern for cross and multi-domain services between different warfighter and Allied partners.

This is the company’s largest contract to date, evidencing both its growing maturity as well as the Department’s commitment to invest in premium sovereign information security capabilities.

(Am aware of the divided opinions on AR9, but I think this contract win could turn things around. I hold AR9)

June 2020 Quarterly Report

June 2020 quarterly report

The quarterly wasn't spectacular. But in comparison to other previous quarterlies, it wasn't too bad either given they are in a transition phase.

It seems maybe people have looked past this and the share price has rallied.

Still thinking long term given the high level security clearances they have obtained for the platform.

Also directors have been buying back in March so they have skin in the game.

ABC article on Archtis

Australian cloud company archTIS has also seen its share price rise during the pandemic.

Its secure online platform Kojensi is accredited by both the US National Security Agency and Australian Signals Directorate for top-secret information sharing online.

It was commercialised last year.

"We've had a number of early adopters, including the Attorney-General's Department, the Commonwealth Ombudsman, and we made a sale to the Australian Criminal Intelligence Commission as well," archTIS chief executive Daniel Lai said.

Its share price dipped from 13 cents at the start of the year to 5 cents in March, but traded as high as 20 cents earlier this month after signing a deal with American global aerospace and defence technology company Northrop Grumman.

"COVID-19 has seen that challenge of the workforce move from an office environment to a remote environment, of course Kojensi is a software-as-a-service cloud platform for secure content collaboration, so it fits that bill from moving to that work-from-home environment," Mr Lai observed.

He said his company's share price growth had not just been caught up by the broader momentum.

"The geopolitical situation, with the tension between China and Australia, has also affected that and the announcement from the Prime Minister of the unprecedented amount of hacking that's been going on in Australia also highlights that that there's a real need for these sorts of platforms of technologies," Mr Lai added.

https://www.abc.net.au/news/2020-07-15/tech-stock-bubble-warnings-amid-coronavirus-rally/12455410

They were also featured on ABC The Business last week.

I managed to get a few on the dip at 17c after the contract renewal announcement which probably was expected given the value of the renewal, but I'm looking long term towards the cybersecurity space and the accreditations they've obtained.