Snapshot Finance

In the reporting period, DMTC continued working closely with relevant Defence, National Intelligence Community, health security agencies and research and industry partners, to undertake a broad portfolio of research and development and innovation activities.

DMTC secured new funding for the year in relation to its activities from a range of sources, including from the Defence Innovation Hub through both individual innovation contracts and the negotiation of an extension to June 2023 of an overarching Collaborative Research, Development and Innovation services contract.

Through DMTC’s co-investment model, this investment leveraged additional cash and in-kind investment from Australian industry, research agencies, State Government and other Defence Program sources.

Cash funding and associated in-kind received for the financial year was $30.2m, while resources applied for the financial year totalled $28.4m, including $9.7m of in-kind contributions from industry and research partners. Resources applied for the year represented an 8.3% increase over prior year activity.

A surplus of $523k was recognised for the year ending 30 June 2022, which is lower than 2021, driven by an increased utilisation of the Program Opportunity Reserve to support heightened enabling research program activity.

Cash reserves totalled $32.9m at 30 June 2022 and included $29.4m of unearned revenue from Commonwealth and Defence program funding. These funds have been committed to fulfil existing and new research activities in future periods.

Copies of the company’s statutory financial report for the year ending 30 June 2022 are available on request.