FirstWave Cloud Technology Limited (ASX:FCT): Results and AI Network Monitoring Developments

Aditi Sarkar

23 September 2026 05:49 AM AEST

FirstWave Cloud Technology Limited (ASX:FCT): Results and AI Network Monitoring Developments

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Highlights

FY2026 network monitoring Revenue increased 34.4% to $6.93 million.
Gross profit increased 5.1% to $8.09 million, with gross Margin improving to 95.4%.
FirstWave filed a provisional Patent application for an AI-driven network monitoring and fault diagnosis system.
Cash and cash equivalents increased to $1.33 million at 30 June 2026.

FirstWave Cloud Technology Limited (ASX:FCT) is a global software company providing enterprise-grade network management, automation, audit and Cybersecurity software solutions. The company develops platforms including NMIS, opEvents and opCharts to support organisations managing complex technology environments. During FY2026, FirstWave focused on improving financial performance, growing network monitoring revenue and applying artificial intelligence capabilities to its software portfolio.

FY2026 Financial Performance and Revenue Mix

FirstWave reported revenue from ordinary activities of $8.48 million for FY2026, compared with $8.74 million in FY2025. The company reported a loss after tax of $4.10 million, an improvement of 70.6% compared with the previous period. Gross Profit increased 5.1% to $8.09 million, while gross margin improved to 95.4% from 88.0%.

Network monitoring revenue increased 34.4% to $6.93 million, while revenue from Latin America increased 73.8% to $2.25 million. FirstWave generated positive net cash from Operating Activities of $297,243 and ended FY2026 with cash and cash equivalents of $1.33 million.

AI Network Monitoring Patent Application

FirstWave filed a provisional patent application with IP Australia for an AI-driven network monitoring and fault diagnosis system. The technology uses a multi-agent AI system orchestrated by large language models to analyse network context and provide explainable root cause diagnosis.

The system extends FirstWave’s NMIS, opEvents and opCharts products by using device history and telemetry data already collected through its software platforms. The company is preparing the technology for commercial launch as additional features or a standalone module.

Software Platform Strategy and Future Focus

FirstWave continues focusing on network monitoring, automation and cybersecurity solutions. The company is integrating AI capabilities into its software ecosystem while developing solutions for enterprise customers across multiple markets.

During FY2026, FirstWave completed the transition away from lower-margin revenue streams, including the discontinuation of Telstra’s GPA firewall product and closure of the CSX2 platform. The company continues focusing on Recurring Revenue opportunities and software capability development.

Key Insights

FirstWave Cloud Technology is focused on network management, cybersecurity and AI-enabled software solutions. FY2026 results highlighted growth in network monitoring revenue, improved margins and continued development of AI-based fault diagnosis technology.

FAQs

Q:What does FirstWave Cloud Technology do?

A:FirstWave provides network management, automation, audit and cybersecurity software solutions.

Q:What was FirstWave’s FY2026 revenue?

A:FirstWave reported revenue from ordinary activities of $8.48 million for FY2026.

Q:What is the AI network monitoring patent application?

A:It is a provisional patent application for an AI-driven system designed to detect network faults and investigate root causes.

Q:What is NMIS?

A:NMIS is FirstWave’s network management platform that collects and manages network data.

Q:What was FirstWave’s cash position at 30 June 2026?

A:FirstWave reported cash and cash equivalents of $1.33 million.

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