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FirstWave Cloud Technology Ltd. ( (AU:FCT) ) has issued an update.
FirstWave Cloud Technology Ltd has reported a cashflow positive first half of FY25, driven by operational reforms and high renewal rates for key agreements. Notably, the company renewed and expanded its strategic agreement with Telmex, enhancing its market presence in Latin America. The launch of the new ‘opHA Message-Bus’ technology positions FirstWave as a leader in high-availability network management solutions, catering to large organizations and critical infrastructures. Despite a slight decrease in annual recurring revenue due to churn from Telstra end-customers, the company’s revenue increased by 1% quarter-over-quarter. The company faces cyclical capital requirements and is preparing strategies to manage upcoming cash usage in the next financial period.
More about FirstWave Cloud Technology Ltd.
FirstWave Cloud Technology Ltd is a global cybersecurity and network management company. The company focuses on providing advanced network management solutions and cybersecurity services, with a strategic emphasis on partnerships in Latin America, particularly through its collaboration with Telmex and other América Móvil sister companies.
YTD Price Performance: 0.0%
Average Trading Volume: 296,162
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: A$34.27M
See more data about FCT stock on TipRanks’ Stock Analysis page.
