Excite Technology Services Limited (ASX:EXT) Reports Positive Operating Cashflows
Financial Performance
Excite Technology Services Limited (ASX:EXT) achieved positive operating cashflows of $235K for the quarter ended 31 March 2025, a significant improvement from $(2.31M) in the previous quarter. Customer receipts rose to $5.48M, while unaudited revenues slightly decreased to $3.98M. The company’s closing cash balance was $1.08M, supported by stand-by credit facilities of $150K. Additionally, the Group received $173K from converting 17.3M EXTOD listed options to fully paid ordinary shares.
Executive Comments
Executive Director and CFO Mr Steven Bliim added: “The March 2025 quarter was a period of growth for Excite. Pipeline has increased due to the Group’s investments in new sales and business development capabilities, as well as an expansion of the client base in federal government and state law enforcement. The Group achieved positive operating cashflows, following the strategic acquisition of CDFS and disciplined financial management. The NANGU training facility is nearing completion, and the outlook includes a robust sales pipeline across all business units, Excite continues to execute its strategic priorities and is positioned for continued performance in future quarters.”
Operational Achievements
The IT and Managed Services division facilitated a $164K Microsoft Cloud migration and secured a $290K managed services renewal with a state health department. In the Cyber Security division, Excite represented internationally at the Nuix XLR8/Local conference in Singapore and secured $94K in cyber consulting engagements with a prominent Australian architecture firm. The Digital Forensics and Training business signed a $193K contract with a not-for-profit organisation and a $107K contract with the Australian Defence Force. Additionally, the team secured a cloud protection licence valued at over $377K with the Department of Health and Aged Care and delivered $270K in Senior Forensics Examiner services.
Executive Appointments
Excite welcomed Jasmine Ribinskas to the executive leadership team as Chief Growth Officer. Jasmine brings extensive experience in the cybersecurity industry and will focus on expanding the Group’s customer base by leveraging enhanced cybersecurity and incident response capabilities.
Future Outlook
Excite’s Cyber Pipeline has grown to $3.34M for the upcoming June quarter. Management expects further improvement in cashflows as fiscal discipline continues and recent investments translate into stronger customer engagement and contract momentum. The Group is actively assessing strategic merger and acquisition opportunities to enhance its market position and sustain its positive financial trajectory.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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