News and Announcements
FirstWave Foreshadows Robust Trading Performance Ahead of Q4 Update
- Published July 19, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
FirstWave Cloud Technology Limited (ASX:FCT), the Australian global cybersecurity technology company, will announce its Q4 trading performance to the market at 9.30am (AEST) on Tuesday 27 July 2021.
In an earlier announcement to the ASX, the company confirmed it has delivered a robust performance in the fourth quarter of FY21, with international annualised recurring revenue (IARR) growth continuing, up 50% from the end of the third quarter to exceed $3 million at the year end.
A continued focus on expense management and collections resulted in a reduced cash burn and the cash position at the end of the fourth quarter was in line with expectations at $9.96 million.
This is a continuation of FirstWave’s strong momentum in 2021, having recently announced significant partnerships with two Level 1 Partners, Vi and SHELT Global, adding significant additional capability to its unique proprietary Cloud Content Security Platform (CCSP).
FirstWave recently completed a $6 million share placement to provide additional resources to support its continued international growth. The placement was well supported by institutional and sophisticated investors.
Registration details for FirstWave’s Q4 shareholder update will be available on ASX in the week preceding the announcement.
About FirstWave Cloud Technology (ASX: FCT)
FirstWave Cloud Technology Ltd (FirstWave) is an ASX-listed, Australian-headquartered global cyber security company, which has been delivering Cybersecurity-as-a-service solutions to the market since 2004. Today, FirstWave is present on five continents.
At the heart of FirstWave is our unique and proprietary technology – the Cloud Content Security Platform (CCSP). The cloud platform enables our service provider partners to deliver a comprehensive range of security services to their customers from a single platform ‘as-a-Service’. This provides economies-of-scale and efficiencies that enable the provision of a range of security services typically only affordable by very large customers with dedicated cybersecurity resources. We refer to this as “democratising enterprise-grade cybersecurity-as-a-service”.
CCSP was developed in Australia and today services thousands of end-user customers ranging from small business to large enterprises and government, including the Australian Federal Government, through our Australian service provider partner, Telstra.
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