Quarterly Activities/Appendix 4C Cash Flow Report
| Stock | Excite Technology Services Ltd (EXT.ASX) |
|---|---|
| Release Time | 7 Apr 2025, 10:49 a.m. |
| Price Sensitive | Yes |
Excite Technology Services Ltd reports Q1 2025 results
- Achieved positive operating cashflows of $235K
- Customer receipts of $5.48M continue strong upward momentum
- First listed option conversions received in the amount of $173K
Excite Technology Services Ltd (ASX:EXT) has reported its quarterly activities and Appendix 4C cash flow report for the period ending 31 March 2025. The key highlights include:- Excite achieved positive operating cashflows of $235K, a significant improvement from the previous quarter's $(2.31M).- Customer receipts continued their strong upward momentum, reaching $5.48M, up from $4.08M in the prior quarter.- The company received $173K from the conversion of 17.3 million listed options, each with a strike price of $0.01.- Closing cash balance was $1.08M, supported by $150K in standby credit facilities.- Excite's Cyber Pipeline for the upcoming June quarter has grown to $3.34M.- The company's digital forensics and training business CBIT Pty Ltd Digital Forensics Group (CDFS) continued its strong performance, securing several key contract wins during the quarter.- Excite welcomed Jasmine Ribinskas as the new Chief Growth Officer to drive scalable revenue growth across the company's service lines.The March quarter marks a significant milestone for Excite, with the company delivering its first quarter of sustainable positive operating cash flow. Management expects further improvement in cashflows over the coming quarters as the benefits of recent investments in sales capability and operational efficiency begin to translate into stronger customer engagement and contract momentum.
Excite expects further improvement in cashflows and EBITDA growth over the coming quarters as the benefits of recent investments in sales capability and operational efficiency are realized.
Excite continues to actively assess strategic merger and acquisition (M&A) opportunities to further enhance its market position, though no formal agreements have been entered into at this stage. The company is well-positioned to benefit from the structural shift towards outsourcing cyber security capabilities to trusted providers.