• $2.0m cash balance at 31 December 2024 plus $235,000 of term deposits
• $4.7m of customer receipts during the period leading to operational cashflows after interest of $0.3m
• $740k in new Swift Access contracts announced with Iluka Resources

Swift Networks Group Ltd announced its Q2 FY2024 Activity Report and Appendix 4C Cash Flow Report. Key highlights include a $2.0m cash balance at 31 December 2024 plus $235,000 of term deposits, $4.7m of customer receipts during the period leading to operational cashflows after interest of $0.3m, and a $740k contract award with Iluka Resources for an installation and subscription agreement to provide Swift Access to Iluka's Balranald site for 36 months. The company also signed new Aged Care contracts with Christadelphian Aged Care and HammondCare. Swift has accelerated the development of its Swift Concierge feature for the Swift Access platform in response to new Aged Care legislation, which will replace the Extra Services (ESS) and Additional Services (AS) framework from 1 July 2025. The company received a $1.5m R&D tax refund subsequent to the end of the quarter in January 2025.

Swift will continue to deliver upon its contracted revenue in both Mining and Resources and Aged Care sectors to ensure subscription revenues can be recognised as soon as possible. Product development will continue for Swift Concierge and the next generation of Swift Access as a priority to commercialise these new features as soon as possible.

Swift has moved quickly to respond to the new HELF Aged Care legislation to be implemented from 1st July 2025. Swift's new Concierge functionality is aimed at becoming a must have practical solution for Aged Care providers to generate revenues and enhance family communication and engagement of their loved ones in Aged Care.