Firstwave Cloud Technology Limited (FCT) 2024年年度报告「ASX」.pdf

1、2024For the Year Ended 30 June 2024Firstwave Cloud Technology LimitedABN 35 144 733 595AnnualRDirectors reportContentsChairs letter 3CEOs letter 5Directors report 7Auditors independencedeclaration 25Financial report 26Directors declaration 65Independent auditors report 66Shareholder information 71Co

2、rporate directory 732Annual Report 2024Chairs letterChairs letter2024 was a year in which we drove further synergies while maintaining our focus on converting a strong pipeline of sales opportunities to revenue.The focus on synergies lowered operating costs for the year,excluding non-cash impairment

3、s,by$3.80 million and reduced normalized cash burn,excluding non-recurring revenues,from$592k per month at the end of FY23 to$283k per month at the end of FY24,This is in line with our objective to reach cashflow breakeven in FY25.However,achieving this objective is dependent on growth in revenue,in

4、 particular annualized recurring revenue(ARR),and this proved once again to be elusive in FY24.Even given the narrowing of our sales focus to the key geographic markets of Australia,the US and LATAM and on our most profitable products in network management(NMIS)and cybersecurity(CyberCision)email,we

5、 failed to convert sufficient of our pipeline(in particular the larger opportunities)to revenue,and opening cash of$5.61 million reduced to$1.68 million by June 30.We indicated to shareholders in our Q4 FY24 update that,without additional sales,we had sufficient cash to operate at the June 30 level

6、of expense and investment through until March 2025.We also indicated to shareholders in this update that our pipeline of opportunities was greater than the annual revenue of the company,so it goes without saying that we do not expect to have no additional sales.However,given our history of revenue g