FirstWave Cloud Technology Ltd. (AU:FCT) has released an update.
FirstWave Cloud Technology Ltd. reported a 3.9% quarter-over-quarter decline in Annualised Recurring Revenue, closing the quarter with $1.68m in cash, a decrease of $1.82m. Despite contract extensions and new partnerships, the company faces a future impact on revenue due to service discontinuations with Telstra. They are focusing on cost management and sales conversion to mitigate cash usage, projecting sufficient funds to last until the end of FY25 Q3.
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