Revenue fell by 16.1% to $14.92 million from a record figure in the previous financial year; the 2018-19 figure was attained due to a sum of $3.85 million from a Thuraya WE order.
The company's earnings before interest, tax, depreciation and amortisation increased by 43% over the previous year to $3 million , while its underlying net profit after tax was steady at $341,419 (FY19: $339,000).
Beam said continuing strong demand for its organic product suite was good and major order fulfilments from Iridium and ZOLEO were responsible for this performance.
In the second half of FY2020, Beam received from Zoleo, its 50% owned joint venture vehicle, orders for 10,000 units, which have since been supplemented by an order for yet another 5000 in July.
Beam said it also received the seventh order for its Iridium GO! device in FY2020. The latest order of 5000 units, to be delivered in FY2021, from NASDAQ-listed Iridium takes the total units ordered to 45,000 over the past six years, making it the most profitable in Beam’s history.
The company said it was the only Australian firm, and one of seven worldwide, to be chosen by Iridium to develop the next generation of Iridium Certus devices, which have data speeds that are more than 35 times faster than the previous generation of Iridium transceivers.
Beam Communications managing director Michael Capocchi said the company had shown resilience through what he described as one of the most difficult periods in its history.
"While the outlook for the current financial year remains highly unpredictable, we are in a good position to build on the momentum we've achieved, particularly given the good traction we are seeing for our newly launched ZOLEO unified messaging solution that automatically switches between satellite, mobile and Wi-Fi networks," he said.
"Beam will also benefit from the new COVID normal world with social distancing set to remain a feature even if a vaccine is found. This is because demand for personal satellite communication devices is likely to increase as consumers seek recreational activities that are off the beaten track and away from crowded city centres."