• EBITDA improved 19% from Q3 FY24 and $460k from Q2 FY25
• Cash receipts of $501K and total revenue of $938K
• Raised $1.6m via convertible notes, ended quarter with $596k cash

Harvest Technology Group Limited (ASX:HTG) reported its quarterly Activity Report and Appendix 4C for the March 2025 quarter. Key highlights include:- The Group recorded EBITDA of ($0.547m), a 19% improvement on a normalised basis to Q3 FY24 and a $460k improvement on a normalised basis to Q2 FY25. - The Group recorded Cash Receipts of $501K in the March quarter and total revenue of $938K.- During the quarter, the Group raised $1.6m (before costs) via convertible notes to sophisticated investors.- At March 31, 2025, the Group held $596k cash at bank.Operationally, the company noted cost saving benefits being realised, a substantial increase in the sales pipeline, meetings with key partners and customers in the Middle East and Europe, and the launch of three new hardware devices. The company also released a major software upgrade and commenced development of its solutions roadmap.The company provided an update on the execution of its 3-year strategic plan, noting it is on track to achieve profitability by FY27 with revenue growth driven by an increase in recurring revenue and expansion of its reseller network.

The company is targeting profitability by FY27 and revenue exceeding $10M by FY27, with $7.5M from the existing Nodestream product range.

The company remains confident in its ability to continue operations and meet its business objectives based on its 3-year profitability plan, latest cash flow forecasts, latest sales orders, and growing sales pipeline.