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Firstwave Cloud Technology Limited (ASX:FCT)

ALERT: Price-sensitive ASX Announcement for FCT
Current share price for FCT : $0.007 -0.001 (-12.50%)+
Announcement
Release
28 May 2026 10:44AM
Price at Release
$0.008
Full Release
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Summary
The shareholder update for FirstWave Cloud Technology Limited highlights significant financial growth in Q3 FY26, with major contracts secured and substantial cost savings. The company reported a net operating cash inflow of AUD 1.40 million, with customer receipts up by 125%. Major contracts were won with Banobras and Services Australia. The company continues to enhance its product offerings leveraging AI and maintains a strong global presence, serving over 150,000 organizations. The leadership remains focused on strategic growth, with CEO Danny Maher actively managing operations in Latin America. The financial outlook for Q4 shows continued improvement in revenue and operational efficiencies.
Key Points
  • FirstWave Cloud Technology Limited reported substantial financial growth in Q3 FY26 with a net operating cash inflow of AUD 1.40 million and customer receipts up by 125% to AUD 2.01 million.
  • Significant cost savings of approximately AUD 500,000 per annum were achieved, contributing to a strong cash position.
  • The company secured major contracts with Banobras in Mexico and Services Australia, valued at approximately USD 250,000 and AUD 1.85 million, respectively.
  • FirstWave's product portfolio includes NMIS, Open-AudIT, CyberCision, and Secure Traffic Manager, with a business model focused on subscription-based revenue.
  • The company's gross margin remains robust at 94%, and it serves over 150,000 organisations across 178 countries.
  • CEO Danny Maher is leading operations in Latin America with strategic deals in progress.
  • FirstWave is leveraging AI technologies to enhance sales and product offerings.
  • The company's financial outlook for Q4 is positive, with revenues already surpassing previous quarters and improved operational efficiencies.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.