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Scout Security Ltd. ( (AU:SCT) ) has shared an update.
Scout Security has completed its strategic merger with New York-based Roo Inc, owner of the Kangaroo DIY smart home security brand, creating a scaled global platform with more than 900,000 users, 29,000 paying subscribers and about A$1.3 million in annual recurring revenue, alongside hardware sales through large Australian retailers. The company has begun integrating Roo’s operations to capture cost and revenue synergies and is targeting a move to positive EBITDA and breakeven-to-positive cash flow post-integration, while a new partnership with insurtech firm Bolt will see Scout supply white‑labelled water damage prevention sensor kits and associated subscription services to Bolt’s growing U.S. customer base, supported by fresh capital raisings of A$400,000 during the quarter to fund working capital and merger integration.
More about Scout Security Ltd.
Scout Security Ltd (ASX: SCT) is a home security provider and white-label security-as-a-service platform, offering DIY smart home security products and subscription services. Its technology powers recurring revenue models for major security, internet and telecommunications providers, with a growing footprint across the U.S., Australia and other international markets, including retail distribution partnerships for hardware sales.
Technical Sentiment Signal: Sell
Current Market Cap: A$1.63M
For an in-depth examination of SCT stock, go to TipRanks’ Overview page.