• Successful $2.85M capital raise led by Red Leaf Securities
• Telstra renewal and Claro Ecuador uplift
• Expansion of relationship with AWS and Ingram Micro
• Progression of AI-powered compliance management for Open-AudIT

FirstWave Cloud Technology Limited (ASX:FCT), a global cybersecurity and network management company, has provided its Activity Report and Appendix 4C for the first quarter of FY26 ended 30 September 2025. The company delivered another operationally cash-flow positive quarter, with $3.2M in receipts from customers. Key activities during the quarter included a successful $2.85M capital raise led by Red Leaf Securities, the renewal of the Telstra contract, an uplift in the Claro Ecuador contract, and the expansion of the company's relationship with AWS and Ingram Micro. The company also progressed the development of AI-powered compliance management functions for its Open-AudIT product, which is on target for commercial release in mid-late November 2025 and is currently being tested by early adopters. The $2.85M capital raise, which was completed subsequent to the end of the quarter, provides sufficient funding for the company to pursue its goals and fund operations for the foreseeable future. The newly formed relationship with AWS and Ingram Micro continues to be of significant interest and is progressing well. The board is excited by the outlook and comments that key new initiatives are tracking favourably.

The company expects to generate sufficient revenue and cash flow from its new AI-powered compliance management product for Open-AudIT, which is targeted for commercial release in mid-late November 2025.

The company is pursuing its new path of AI-powered compliance management, which it believes will lead to the monetization of the significant base of organizations (estimated at 150,000) using its Open-AudIT product. The board is excited by the outlook and comments that key new initiatives are tracking favourably.