Firstwave Cloud Technology Ltd. · ASX:FCT
Firstwave Cloud Technology — Q1 FY23 Earnings Presentation
16 slides from Firstwave Cloud Technology's earnings presentation, Oct 27, 2022
Slide 1: Q1 FY23 Shareholder Update
Q1 FY23 Shareholder Update 27 October 2022
Slide 2: Today's Presenters
Today’s Presenters J O HN GRANT DANNY MAHER IAIN B A R T R A M Chair Managing C FO and Director and CEO C o m p a ny Secretary 2
Slide 3: Agenda
Agenda 1. Introduction - Chair 2. Q1 Highlights - CEO 3. Q1 Financial Performance - CFO 4. Strategy Update - CEO 5. Wrap-up - CEO 6. Q&A 3
Slide 4: Q1 Financial Highlights
Q1 Financial Highlights Danny Maher – Managing Director and CEO 4
Slide 5: Q1 has been a good launching pad for the year
Q1 has been a good launching pad for the year • Integration of Opmantek was completed prior to the start of the quarter • A significant pipeline of sales opportunities has grown, particularly in North America, and indicates a strong outlook for revenue growth • Cash on hand of $8.57m • Normalised1 c
Slide 6: Q1 Financial Performance
Q1 Financial Performance Iain Bartram – CFO and Company Secretary 6
Slide 7: Q1 Financial Performance – Revenue and Gross Profit
Q1 Financial Performance – Revenue and Gross Profit △% (A$m) Q4 FY22 Q1 FY23 Q1/Q4 ARR 10.92 9.71 -11.0% Revenue 2.89 3.11 7.5% Gross Profit 2.09 2.22 6.0% Gross Profit Margin 72.3% 71.3% -1.0ppts ARR reduction of $1.21m relates to: • $0.39m of recharges at zero margin, • $0.32m from customers where
Slide 8: Q1 Financial Performance – Cash
Q1 Financial Performance – Cash • Q1 closing cash position $8.57m • Cash used in the quarter $1.84m (Appendix 4C) • Normalised monthly cash burn $0.52m (average across Q1) • Q1 exit and forecast for Q2 <$0.50m per month • Stated goal of reducing cash burn from $1.0m to $0.50m achieved • Post acquisi
Slide 9: CEO Overview
CEO Overview Danny Maher – Managing Director and CEO 9
Slide 10: Strategic Objectives
Strategic Objectives Sales-led culture Grow faster Be capital efficient 10
Slide 11: Key Sales Initiatives
Key Sales Initiatives • Commercial agreement reached to launch a secure sovereign, ISM compliant email platform for Australian government and large enterprise • IoT management emerging as a space for FirstWave to become an industry leader replicating the success with IoT management for Microsoft • T
Slide 12: Sales and Marketing
Sales and Marketing • Focusing of sales efforts continues with Service Providers (our main clients) in our strongest markets (USA, Australia and LATAM) • Focusing on highest margin products – Email Security and Network Management • New North American Sales Director has been appointed – commenced Sep
Slide 13: Product Development
Product Development • Release of Enterprise Services Monitoring • Changing the way network management is performed – business views rather than technology or geographical views • Already released to (and in use by) a significant Australian Government client • First integration of Opmantek IP with Cy
Slide 14: Summary of Current Position
Summary of Current Position • Cash burn continues to reduce • Double gross profit with lower OPEX than pre Opmantek acquisition • Company is delivering on its goals • Strengthening QoQ which will continue • A very exciting, growing, diversified pipeline Note: AGM 10am AEDT, Thursday 24 November 14
Slide 15: FirstWave
FirstWave 15
Slide 16: Thank you
Thank you
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