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Fortifai Ltd (ASX:FTI)

ALERT: Price-sensitive ASX Announcement for FTI
Current share price for FTI : $1.100 0.42 (61.76%)+
Announcement
Release
30 Apr 2026 6:26PM
Price at Release
$0.680
Full Release
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Summary
FortifAI Ltd, an ASX-listed AI infrastructure company, released its Quarterly Activities Statement and Appendix 4C for Q3 FY26. Highlights include the completion of the Nol8 Acquisition, which brought FastAI and its Nol8 technology into its portfolio. This complements FortifAI's technological endeavors, particularly in developing the high-speed infrastructure layer for large language model applications. The company raised an additional $20 million through strategic placements to accelerate the development and commercialization of its Nol8 technology. FortifAI reported a strong cash position of $6.8 million as of 31 March 2026, with no debt and anticipated rebates for FY25. The company's operational activities focused on enhancing the Nol8 AI Data Plane, with advancements in engine development and promising benchmark results showcasing significant throughput improvements over standard models. Financially, FortifAI received $373,000 from customers and experienced cash outflows of $1.46 million, mostly invested in technological and business advancements. Additionally, the company made $138,000 in payments to related parties as part of its operational expenses.
Key Points
  • Completion of Nol8 Acquisition and integration with FastAI technology.
  • Raised $20 million through strategic placements for Nol8 development.
  • Cash position of $6.8 million with no debt as of March 31, 2026.
  • Operational focus on Nol8 AI Data Plane and engine development.
  • Significant throughput improvements in benchmark testing of Nol8 technology.
  • Cash receipts of $373,000 and $1.46 million in operating cash outflows.
  • Payments of $138,000 to related parties during the quarter.
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.