Firstwave Cloud Technology Ltd. · ASX:FCT
Firstwave Cloud Technology — Q2 FY24 Earnings Presentation
16 slides from Firstwave Cloud Technology's earnings presentation, Jan 30, 2024
Slide 1: Q2 FY24 Shareholder Update
Q2 FY24 Shareholder Update 30 January 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. Q2 Highlights - CEO 3. Q2 Financial Performance - CFO 4. Business Update - CEO 5. Q&A 3
Slide 4: Q2 Highlights
Q2 Highlights Danny Maher – Managing Director and CEO 4
Slide 5: Q2 Highlights
Q2 Highlights Following the organisational restructure in Q1: • Several opportunities moved closer to completion and a number closed including: • Extension of agreement with US space agency, NASA • Extension of agreement with Mexico’s largest telecommunications group, Telmex • First sale under the r
Slide 6: Q2 Financial Performance
Q2 Financial Performance Iain Bartram – CFO 6
Slide 7: Q2 Financial Performance – Revenue and Gross Profit
Q2 Financial Performance – Revenue and Gross Profit △% (A$m) Q1 FY24 Q2 FY24 Q2/Q1 ARR 10.00 10.18 1.8% Revenue 2.85 2.94 3.2% Gross Profit (pro forma1) 2.20 2.30 4.5% Gross Profit Margin 77.4% 78.4% 1ppt 1 The cost of goods sold used to arrive at Gross Profit is the actual operating cost in the per
Slide 8: Q2 Financial Performance – Cash
Q2 Financial Performance – Cash • Q2 closing cash position $1.95m (Q1: $2.95m) • $1m annual R&D tax offset income to be received in Q3 • $1m cash used in Q2 (Q1: $2.65m) • Cash used includes $0.11m in one-off payments relating to redundancies announced in Q1 • Lower future staff costs post redundanc
Slide 9: Business Update
Business Update Danny Maher – Managing Director and CEO 9
Slide 10: Strategic Objectives
Strategic Objectives Sales-led culture Grow faster Be capital efficient 10
Slide 11: Sales-led Culture
Sales-led Culture • CEO Danny Maher to spend February in Mexico and USA to work on some significant opportunities that have developed in those regions • CRO Dino Davanzo to also make a trip to the region • Further efforts have been made to focus centralised resources on supporting key global sales o
Slide 12: Grow faster
Grow faster Continuing to invest in sales and marketing • ARR growth the major focus • Reseller sale through Telmex (announced 21/12/2023) not included in ARR for Q2 adds an additional ~$300k of ARR from Q3 onwards • Several major opportunities remain in an advanced stage in the pipeline. Completion
Slide 13: Be Capital Efficient
Be Capital Efficient • Total OPEX remain (FirstWave + Opmantek + Saisei) much lower than FirstWave’s “standalone” • Consolidation of CyberCision platforms continues to reduce operational support costs and create a density of customers on a smaller number of platforms that can leverage economies of s
Slide 14: In Closing
In Closing Managing cash reserves to balance opportunity and longevity: • Current cash levels to be retained in Q3 (given receipt of $1 million R&D tax offset) • The Company is reviewing a number of options to provide working capital support to manage the possibility of further sales slippage Cash f
Slide 15: FirstWave
FirstWave 15
Slide 16: Thank you
Thank you
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