• First AI-powered compliance management capability for Open-AudIT enters final testing
• Introduces subscription pathway for enterprise-grade compliance management
• Leverages AWS partnership to make product available on AWS Marketplace

FirstWave Cloud Technology Limited (ASX: FCT) has announced that the first AI-powered compliance management capability for its Open-AudIT platform has entered final testing, with release to early adopting customers scheduled for September 9 and global public release by October 14. This new capability represents a critical milestone in converting FirstWave's estimated 150,000 free-tier organisations into paying customers by introducing a subscription pathway for enterprise-grade compliance management. By connecting Open-AudIT data into the newly launched FirstWave Cloud, users will receive continuous and up-to-date AI-powered compliance reporting of potential security vulnerabilities affecting the systems discovered and managed by Open-AudIT. FirstWave previously announced a partnership with Amazon Web Services (NASDAQ: AMZN), who have been key in launching FirstWave Cloud and fast-tracking FirstWave products onto the AWS Marketplace. This new compliance management capability will also be available to the AWS Marketplace's 300,000 monthly active users and more than 2,500 channel partners, where there is strong demand from SMEs. FirstWave is well-positioned to launch this product, having already delivered more than AUD 2 million in sales across June and July to customers including Microsoft (NASDAQ: MSFT), Raytheon Technologies (NYSE: RTX), Telstra (ASX: TLS), and Claro, with payments from these agreements now received and bolstering the company's cash position.

FirstWave is positioning itself to capture a share of the USD 16.5 billion Security & Vulnerability Management market, projected to reach USD 24.5 billion by 2030 (CAGR ~6-7%) with the launch of its new AI-powered compliance management capability.