FirstWave Cloud Technology Ltd. (AU:FCT) has released an update.
FirstWave Cloud Technology Ltd reported a positive cash flow for the first quarter of FY25, despite a 15.9% drop in its annualized recurring revenue (ARR) mainly due to adjustments with Telstra’s zero-margin revenues. The company ended the quarter with a cash position of $1.679 million and is focused on prudent cost management to maintain operations through FY25 Q3. Notably, FirstWave extended its agreement with Microsoft for its NMIS network monitoring suite, signaling potential future growth.
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