Excite Technology Services Limited (ASX:EXT) Posts Strong Operating Cashflows

Excite Technology Services Limited (ASX:EXT) had a successful quarter ending on March 31, 2025, with positive operating cashflows amounting to $235,000, a substantial improvement from the previous quarter. Customer receipts saw an uptick to $5.48 million, although unaudited revenues slightly dipped to $3.98 million. The company closed the quarter with a cash balance of $1.08 million, supported by stand-by credit facilities of $150,000. Furthermore, the Group converted 17.3 million EXTOD listed options to fully paid ordinary shares, bringing in $173,000.

During this period of growth, Executive Director and CFO Mr. Steven Bliim noted the expansion of Excite’s pipeline due to investments in new sales and business development capabilities. The Group broadened its client base in federal government and state law enforcement sectors. The positive operating cashflows were attributed to the strategic acquisition of CDFS and effective financial management. The NANGU training facility is close to completion, setting the stage for a robust sales pipeline across all business units. Excite is focused on executing its strategic priorities to ensure continued performance in the upcoming quarters.

Operational milestones were achieved across different divisions. The IT and Managed Services sector oversaw a Microsoft Cloud migration worth $164,000 and secured a $290,000 managed services renewal with a state health department. In Cyber Security, Excite’s representation at the Nuix XLR8/Local conference in Singapore yielded $94,000 in cyber consulting engagements with a prominent Australian architecture firm. The Digital Forensics and Training arm inked contracts worth $193,000 with a not-for-profit organization and $107,000 with the Australian Defence Force. Additionally, the team acquired a cloud protection license valued at over $377,000 from the Department of Health and Aged Care and provided $270,000 in Senior Forensics Examiner services.

Excite bolstered its leadership team by welcoming Jasmine Ribinskas as Chief Growth Officer. Ribinskas, with extensive experience in the cybersecurity industry, will spearhead efforts to expand the customer base by leveraging enhanced cybersecurity and incident response capabilities. Looking forward, Excite anticipates continued improvements in cashflows as it maintains fiscal discipline and realizes returns on recent investments, translating into stronger customer engagement and contract momentum. The Group is actively exploring strategic merger and acquisition opportunities to augment its market position and sustain positive financial growth.