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Highlights:

  • Etherstack signs a 7-year Master Supply Agreement with AT&T for MCPTT solutions.
  • The company will receive a minimum AUD 2.5 million annually in support and service fees.
  • Etherstack expects approximately AUD 4 million in FY2025 revenue contribution from the contract.

Etherstack plc (ASX:ESK) announced that its US subsidiary, Etherstack Inc., has entered into a Master Supply Agreement (MSA) with AT&T Services Inc. for the supply of telecommunications solutions and services relating to Mission Critical Push-to-Talk (MCPTT) technologies. The agreement includes Etherstack’s LMR-IWF (InterWorking Function) product along with other related elements and services.

The MSA has an initial term of seven years, with the possibility of extensions based on performance. Under the agreement, Etherstack will receive a minimum of AUD 2.5 million per year (indexed) in support and service fees during the initial and any subsequent contracted terms. In addition to these fixed payments, Etherstack expects to generate variable revenues starting in FY26. These revenues will be based on subscriber volumes and professional service requests, though the company notes these amounts cannot be reliably estimated at this stage.

For the current financial year ending 31 December 2025, Etherstack anticipates that the agreement will contribute around AUD 4 million to total revenues. This figure includes AUD 2.37 million already disclosed for the first half of the year, ending 30 June 2025. The company indicated that the agreement is subject to standard contractual terms and conditions. The arrangement follows earlier announcements made by Etherstack on 22 January 2025 and 11 April 2025 regarding its work with AT&T. The agreement is expected to support the provision of MCPTT solutions over the long term, addressing operational requirements for sectors reliant on mission-critical communications.

ESK is trading 6.32% higher at AUD 0.50 per share as of 11 August 2025.