FirstWave Completes a $2.85M Capital Raise

• Successful $2.85M capital raise led by Red Leaf Securities
• Funds to accelerate monetization of 150,000+ Open-AudIT user base
• Expansion of global distribution through partnerships with AWS and Ingram Micro

FirstWave Cloud Technology Limited (ASX: FCT) has successfully completed a $2.85M capital raise to support growth initiatives, following a corporate restructure that delivered an operational cash flow positive FY25. The capital raise was cornerstoned by leading technology investor Roger Allen, underscoring strong investor demand. The funds will be used to launch NMIS Cloud with Telmex (representing a $15M+ ARR opportunity), monetize the 150,000+ Open-AudIT user base (creating a $30M+ ARR opportunity), and expand global distribution through new partnerships with AWS and Ingram Micro. Over the past 24 months, FirstWave has undergone significant transformation, achieving operational cash flow positivity in FY25, reducing operating expenditure through a successful restructure, and securing renewals and uplifts with key customers. The company has also released new AI-powered compliance features and expects 96% of its FY25 revenues to renew in FY26. This capital raise will enable FirstWave to accelerate its strategy of converting its extensive global footprint into sustainable, high-margin ARR.

The capital raise will fund the launch of NMIS Cloud with Telmex (representing a $15M+ ARR opportunity) and the monetization of the 150,000+ Open-AudIT user base (creating a $30M+ ARR opportunity).

FirstWave is positioned at the intersection of AI, cybersecurity, and compliance management, and the strong investor demand for this raising highlights confidence in the company's growth strategy. The funds will enable FirstWave to accelerate the monetization of its extensive global footprint and drive sustainable, high-margin ARR.