Firstwave Cloud Technology Ltd. · ASX:FCT
Firstwave Cloud Technology — Q2 FY2023 Earnings Presentation
16 slides from Firstwave Cloud Technology's earnings presentation, Jan 31, 2023
Slide 1: Q2 FY23 Shareholder Update
Q2 FY23 Shareholder Update 31 January 2023
Slide 2: Today’s Presenters
Today’s Presenters J O HN GRANT DANNY MAHER IAIN B A R T R A M Chairman Managing C FO and Director 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: The Company is in good shape
The Company is in good shape • Operationally in the best shape since listing • Sales and marketing in the best shape to deliver revenue growth from a strong pipeline 4
Slide 5: Q2 Highlights
Q2 Highlights Danny Maher – Managing Director and CEO 5
Slide 6: Q2 – A Growing, Manageable Business
Q2 – A Growing, Manageable Business • A significant pipeline of sales opportunities, particularly in North America indicates a strong outlook for revenue growth • Normalised1 cash burn remains under $0.5m per month (down from >$1M in FY22 H1) • Cash burn is an investment in our growth (primarily sal
Slide 7: Q2 Financial Performance
Q2 Financial Performance Iain Bartram – CFO and Company Secretary 7
Slide 8: Q2 Financial Performance – Revenue and Gross Profit
Q2 Financial Performance – Revenue and Gross Profit △% (A$m) Q1 Q2 Q2/Q1 ARR 9.71 9.86 1.5% Revenue * 3.11 3.45 10.9% Gross Profit (statutory) 2.22 2.90 30.6% Gross Profit Margin 71.3% 83.9% 12.6ppts Gross Profit (proforma +) 2.22 2.63 18.7% Gross Profit Margin 71.3% 76.3% 5ppts * Revenue contains s
Slide 9: Q2 Financial Performance – Cash
Q2 Financial Performance – Cash • Q2 closing cash position $6.68m • Further $1.16m expected in Q3 from R&D tax rebates associated with FY22 • Cash used in the quarter $1.89m (compares to $1.84m in Q1) • Normalised monthly cash burn $0.48m per month • Collections $0.20m down for the quarter on normal
Slide 10: CEO Overview
CEO Overview Danny Maher – Managing Director and CEO 10
Slide 11: Strategic Objectives
Strategic Objectives Sales-led culture Grow faster Be capital efficient 11
Slide 12: Key Sales Initiatives
Key Sales Initiatives • Dino Davanzo commenced as CRO based in Sydney • Strong pipeline providing multiple paths to success • A significant deal in the US which we are working to close shortly • Focusing of sales efforts continues with targeting Service Providers and large enterprises in our stronge
Slide 13: Key Sales Outcomes
Key Sales Outcomes • Announced a new deal with Viaero Wireless • Announced an extension of our agreement with Claro Dominican Republic • Extended our agreement with Telmex • Signed several new clients – mostly network management clients 13
Slide 14: Summary of Current Position
Summary of Current Position • 12 months since acquisition of Opmantek • Right sized and reset strategy commencing in January 2022 (prior to tech market head winds) • Total OPEX now is less than FirstWave’s was prior to acquisition of Opmantek • Investing in growth and showing early signs of success
Slide 15: FirstWave
FirstWave 15
Slide 16: Thank you
Thank you
FirstWave Cloud Technology — Q2 FY2023 Earnings Presentation on 6ix