Firstwave Cloud Technology Ltd. · ASX:FCT
Firstwave Cloud Technology — Q1 FY25 Earnings Presentation
16 slides from Firstwave Cloud Technology's earnings presentation, Oct 30, 2024
Slide 1: Q1 FY25 Shareholder Update
Q1 FY25 Shareholder Update 30 October 2024
Slide 2: Today's Presenters
Today’s Presenters J O HN GRANT DA NN Y M AH E R I AI N B A R T R A M DA NI E L F RI EL Ch air Mana ging Director CF O an d Non-Executive and CEO C o m p a n y S ec r e t ar y Director 2
Slide 3: Agenda
Agenda 1. Introduction - Chair 2. CFO Update 3. CEO Update 4. Daniel Friel Introduction 5. Q&A 3
Slide 4: CFO Update
CFO Update Iain Bartram – Chief Financial Officer 4
Slide 5: Q1 Financial Performance
Q1 Financial Performance • As previously disclosed, results were significantly impacted by removal of Telstra recharge which removed ~$1.15m of zero margin recurring revenue. • Gross Profit impacted by lower non-recurring revenue than in the previous quarter. △% (A$m) Q4 FY24 Q1 FY25 Q4/Q1 ARR 10.06
Slide 6: Q1 Financial Performance – ARR movements
Q1 Financial Performance – ARR movements (A$m) Q4 FY24 Q1 FY25 Change % of Change CSX Recharge 1.152 - -1.152 72% GPA 0.777 0.388 -0.388 24% Claro GT 0.239 - -0.239 15% Other 7.889 8.072 0.183 (11%) Total ARR 10.056 8.461 -1.595 100% • Q1 result excludes CSX platform recharge revenues as Telstra is
Slide 7: Q1 Financial Performance – Revenue movements
Q1 Financial Performance – Revenue movements (A$m) Q4 FY24 Q1 FY25 Change % of Change CSX Recharge 0.304 0.062 -0.242 51% GPA 0.200 0.110 -0.091 19% Non-Recurring Revenue 0.157 0.059 -0.097 20% Claro GT 0.060 - -0.060 13% Other 2.002 2.017 0.014 (3%) Total Revenue 2.723 2.248 -0.475 100% • The CSX p
Slide 8: Q1 Financial Performance – Gross Profit movements
Q1 Financial Performance – Gross Profit movements (A$m) Q4 FY24 Q1 FY25 Change % of Change Non-Recurring Revenue 0.157 0.059 -0.097 67% Claro GT 0.060 - -0.060 41% CSX Recharge - - - 0% Other 1.915 1.927 0.012 (8%) Total Gross Profit 2.131 1.986 -0.145 100% • The CSX platform recharge being at zero
Slide 9: Q1 Financial Performance – Cash
Q1 Financial Performance – Cash • Q1 closing cash position $1.68m (FY25 Q4: $1.68m) • Opening cash level maintained • Significant change from $1.82m usage in Q4 • Amended FY23 Tax Return generated $223K in additional R&D offset grant. • Normalised* monthly cash usage at 30 Sep 2024 estimated at $251
Slide 10: CEO Update
CEO Update Danny Maher – Managing Director and CEO 10
Slide 11: Q1 Highlights
Q1 Highlights • Encouraging cashflow result reflects: Normalised* Cash Usage (AUD $000’s) • Benefit of operational savings and 1,000 synergies implemented in FY24 (and 900 FY23). 800 • Receipt of Microsoft and Australian 700 Government contract uplifts. 600 • Multiple new smaller client wins in Q1 5
Slide 12: Focus sharpens on growing revenue
Focus sharpens on growing revenue • Strong pipeline of new opportunities across LATAM, North America and ANZ. • CyberCision growth focus continues to be on sovereign ISM platform. • NMIS growth focus continues to be global with pipeline bias towards LATAM. • Significant deals remain in play but long
Slide 13: FY25 Outlook
FY25 Outlook • The business will continue to benefit from significant transformation over last 18 months. • Q2 net sales result is critical to delivering on goal of cashflow positive FY25. • FY24 R&D grant expected to be ~$1.15 million in Q2. • Even without net new sales the company has sufficient c
Slide 14: Daniel Friel Introduction
Daniel Friel Introduction Non-Executive Director – North America 14
Slide 15: Q&A
Q&A 15
Slide 16: Thank you
Thank you
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