• Cash Receipts of $672K in the December quarter (37% higher than Q2 FY24)
• EBITDA of ($0.035M) in the December quarter (98% improvement on Q2 FY24)
• Raised $3.065m (before costs) via convertible note instruments in December quarter

Harvest Technology Group Ltd (ASX:HTG) reported its quarterly Activity Report and Appendix 4C for the December 2024 quarter. Key highlights include: The Group recorded Cash Receipts of $672K in the December quarter, 37% higher than Q2 FY24, and revenue of $689k, 32% higher than Q2 FY24. The Group recorded EBITDA of ($0.035M) in the December quarter, a 98% improvement on Q2 FY24, mainly due to the recognition of $1.59m of the Group's R&D tax incentive rebate. The Group raised $3.065m (before costs) via a range of convertible note instruments in the December quarter. In December 2024, the Group secured an additional order and full advance payment from a defence partner to supply 30 more NSI (Nodestream Integrated) units. The Group also established a new wholly owned subsidiary, HTE (Harvest Technology) Ltd, in Ireland to re-launch the Nodestream product range across the UK and European markets. The 3-year strategic plan is progressing, with a focus on revenue growth, cost optimization, and achieving profitability by FY27.

The Group is targeting revenue growth to exceed $10M by FY27, with $7.5M from the existing Nodestream product range. The Group has also reduced its breakeven target from $14M to $6.5M projected revenue.

The Group is focused on executing its 3-year strategic plan, with a focus on revenue growth, cost optimization, and achieving profitability by FY27. The Group is also expanding its reseller network and pursuing strategic acquisitions to accelerate growth.