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Maestrano's year on year revenue has almost doubled following its move into international markets.
The company's revenue increased 92% to AUS$1.67bn in the 12 months to June 30, 2021. However, it has reported a pre-tax loss of AUS$1.3bn for the period.
Total expenses increased by 44% (41% in constant currency), with additional hardware and software engineers, and market development staff employed during the period.
Nick Smith, CEO of Maestrano, said: 'The success of our move to international markets is reflected in the near-doubling of year-on-year revenue and strong demand for our unique AI capabilities for processing railway LiDAR data.
'As collected data grows, our AI training models become even more precise and our competitive advantage increases. With our pipeline of new opportunities and the recent breakthrough in the USA, w e are confident of continuing growth in FY21.
Ian Buddery, chairman of Maestrano, added: 'We will continue to invest in R&D to maintain our lead in end-to-end LiDAR+AI solutions. Our team of AI scientists, computer engineers, surveyors, mathematicians, LiDAR technicians and railroad engineers will be working hard to expand this lead as we address further international markets.'