• Forecasting >50% reduction in EBITDA loss in FY25 compared to FY24
• Launch of NEON in 1H26: Edge AI-enabled solution with powerful edge compute, video/audio recording, and playback
• Revenue acceleration and margin expansion from recurring software licensing and bundled solution offerings

Harvest Technology Group Limited ('Harvest' or 'the Company') is pleased to provide an update on the execution of its 3-Year Pathway to Profit strategy, initially released in July 2024. The Company is now tracking one year ahead of schedule, a significant milestone on the path to sustainable profitability. Key highlights include accelerated profitability with a forecasted >50% reduction in EBITDA loss in FY25 compared to FY24, driven by streamlined operations, increased margin capture, and reduced Opex. The company also announced the launch of NEON, an Edge AI-enabled solution with powerful edge compute, video/audio recording, and playback, building on its existing leadership in ultra-low bandwidth livestreaming and remote operations technology. Harvest is also experiencing revenue acceleration and margin expansion from recurring software licensing and bundled solution offerings, as well as a growing pipeline with significant interest from global defence integrators. The company has also expanded its global reach through a dual listing on the Frankfurt Stock Exchange (FSE: HTE) to broaden access to European capital markets.

Forecasting >50% reduction in EBITDA loss in FY25 compared to FY24, with revenue expected to exceed $5M and EBITDA to be less than -$1.5M in FY26.

Harvest is focused on sustainably growing revenue by closing out its existing pipeline, continuing to expand the sales pipeline, releasing solution bundles to reduce time to turn on revenue from new customers, optimizing margin, and continuing to innovate with new products and solutions while containing operating costs. The company is forecasted to achieve its first month of positive Operating EBITDA in FY26, one year ahead of its 3-year plan.