• $1.5m cash balance at 31 March 2025 plus $235,000 of term deposits
• $4.4m of customer receipts during the period
• $1.5m R&D tax refund received, used to reduce creditors

Swift Networks Group Ltd released its Q3 Activities Report and Appendix 4C Cash Flow Report. Key highlights include a $1.5m cash balance at 31 March 2025 plus $235,000 of term deposits, $4.4m of customer receipts during the period, and a $1.5m R&D tax refund received with funds used to reduce creditors. Swift also launched a $3.3m entitlement offer, 60% underwritten, with $1.4m to be used to reduce the principal amount owing to PURE. The company extended its PURE loan facility to 31 March 2027 with updated covenants. Swift secured multiple new mining contracts, including a $820k contract with Newmont Mining and an $804k contract with Shell for its Prelude offshore vessel. The company also renewed contracts with Roy Hill and Pilbara Minerals. Cash receipts during the quarter totaled $4.4m, slightly lower than the prior period. $6m was spent on operating costs, up $1.6m, largely due to utilizing the R&D tax incentive funds to reduce liabilities. Net cash from operating activities for the quarter was neutral.

The current entitlement offer will be finalized in Q4 to strengthen the balance sheet. Swift will continue to deliver upon its contracted revenue in both Mining and Resources and Aged Care sectors. Product development continues to be a priority, with the new User Interface/User Experience expected to be deployed at Mining and Aged Care sites from Q1 FY26, and the new hardware-enabled Swift Access 2026 product on track to be available later in the calendar year.