FirstWave Cloud Technologies (ASX: $FCT) Contract Extension and Uplift Announcement

FirstWave Cloud Technologies (ASX: $FCT) has announced the extension and uplift of a contract with its largest customer under its PSA with Telstra. The contract extension is expected to drive approximately 20% revenue growth for FirstWave in FY25. The company's CyberCision cybersecurity-as-a-service platform will continue to be hosted on an ISM compliant platform developed for Telstra, targeting ISM-compliant cybersecurity-as-a-service for Australian Government users.

Executive Commentary on Contract Extension and Uplift

The contract expansion reflects the quality of FirstWave's CyberCision platform and the strength of its ongoing relationship with Telstra. 'The FirstWave team worked hand-in-hand with Telstra on this project, and we are delighted to expand this contract on terms that work for all parties,' said FirstWave CEO Danny Maher. 'CyberCision's complete cybersecurity-as-a-service platform enables service providers like Telstra to offer enterprise-grade security at scale and reduced cost.'

Summary of FirstWave Cloud Technologies (ASX: $FCT) Announcement

FirstWave Cloud Technologies (ASX: $FCT) has extended and uplifted a contract with its largest customer under its PSA with Telstra, driving approximately 20% revenue growth in FY25. The company's CyberCision cybersecurity-as-a-service platform will continue to be hosted on an ISM compliant platform developed for Telstra, targeting ISM-compliant cybersecurity-as-a-service for Australian Government users. CEO Danny Maher emphasized the quality of CyberCision and the strength of the relationship with Telstra. FirstWave's ambitions in providing cybersecurity-as-a-service at scale and reduced cost position it for continued growth and success in the cybersecurity market.