Firstwave Cloud Technology Ltd. · ASX:FCT
Firstwave Cloud Technology — Q3 FY24 Earnings Presentation
18 slides from Firstwave Cloud Technology's earnings presentation, Apr 24, 2024
Slide 1: Q3 FY24 Shareholder Update
Q3 FY24 Shareholder Update 24 April 2024
Slide 2: Today’s Presenters
Today’s Presenters J O HN GRANT DANNY MAHER IAIN B A R T R A M Chair Managing Director C O O, C F O and and CEO C o m p a ny Secretary 2
Slide 3: Agenda
Agenda 1. Introduction - Chair 2. Q3 Highlights 3. CFO Report 4. CEO Report 5. In Closing 6. Q&A 3
Slide 4: Q3 Highlights
Q3 Highlights Danny Maher – Managing Director and CEO 4
Slide 5: Q3 Highlights
Q3 Highlights • Raised $2.5 million via Convertible Note. • Conversion price of 3.6 cents and interest repayments of ~$25k/month. • Repayment due August 2025 (no early payment penalties). • Establishes relationship with high-quality capital partner Formue Nord A/S. • Telstra Product & Services Agree
Slide 6: Q3 Financial Performance
Q3 Financial Performance Iain Bartram – Chief Financial Officer 6
Slide 7: Q3 Financial Performance – Revenue and Gross Profit
Q3 Financial Performance – Revenue and Gross Profit △% (A$m) Q2 FY24 Q3 FY24 Q3/Q2 ARR 10.18 10.47 2.8% Revenue1 2.94 2.77 -5.6% Gross Profit (pro forma2) 2.30 2.14 -7.2% Gross Profit Margin 78.4% 77.0% -1.4ppt 1. Overall revenue impacted by lower non-recurring revenue. 2. The cost of goods sold use
Slide 8: Q3 Financial Performance – Cash
Q3 Financial Performance – Cash • Q3 closing cash position $3.50m (Q2: $1.95m) • Cash position improved $1.55m in Q3 • $1m annual R&D tax offset income received • $2.375m (after fees) convertible note • Cash usage higher than estimated due to a shortfall in expected sales, and collections in the qua
Slide 9: CEO Report
CEO Report Danny Maher – Managing Director and CEO 9
Slide 10: Clear Business Focus
Clear Business Focus • Aggressively pursuing opportunities in LATAM and USA. • CEO based in Mexico City for February and part of March to work directly on significant opportunities in the region. • NMIS development lead also temporarily located in Mexico City working directly with FCT LATAM team and
Slide 11: Telmex
Telmex Customer in Focus FirstWave 11
Slide 12: Telmex – Key take-aways
Telmex – Key take-aways • Telmex owns and operates most of Mexico’s telecommunications infrastructure and has annual revenues of >$5 billion. • Telmex has ~500 servers running FirstWave’s NMIS software. • ~8,000 customers being managed. • ~200,000 devices under management. • Strong further growth po
Slide 13: Daniel Friel - Director Appointment
Daniel Friel - Director Appointment • Daniel Friel joined the FirstWave Board as a Non-executive Director, effective April 23, 2024. • Previously an advisor to the Board of Opmantek Limited. • Mr Friel is based in Charlotte, North Carolina, and has extensive experience in the technology and technolo
Slide 14: Normalised Cash Usage Trend
Normalised Cash Usage Trend • Cash usage continues to decline. Cash Usage 1000 • Further cost reductions have been made 900 which will see cash usage continue to 800 decline in Q4. 700 600 • Normalised cash usage includes average 500 of non-recurring revenue (NRR) from the 400 previous 12 months. 30
Slide 15: Normalised Cash Usage Trend
Normalised Cash Usage Trend • As cash usage reduces, we intend to exclude non- Cash Usage recurring revenue (NRR) and include interest 1000 payments in normalised cash usage. 900 • This provides an estimated view of the sales (above 800 any churn) required for the business to be cashflow 700 positiv
Slide 16: In Closing
In Closing • The company continues to reduce cash usage. • Managing cash reserves to balance opportunity with cash usage remains key. • Converting sales opportunities in the pipeline is critical and a focus for everyone in the company. 16
Slide 17: FirstWave
FirstWave 17
Slide 18: Thank you
Thank you
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