FirstWave on Track to Positive Cash Flow by FY25

FirstWave Cloud Technology Ltd. (AU:FCT) has released an update.

FirstWave Cloud Technology Ltd. reports narrowing its annual losses to $3.08 million and reducing its monthly cash burn, positioning itself to become cashflow positive in FY25. The company achieved operational improvements and lowered costs, resulting in a slight increase in annual recurring revenue, despite a revenue dip from the previous year. Strategic moves included asset acquisitions, extending major service agreements, and appointing a new Non-Executive Director, all while maintaining strong relationships with blue-chip clients.

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