Key Highlights

  • Customer cash receipts were $1.9 million for the quarter, about 3.1 times the receipts of the prior half-year.
  • Operating cash flow was positive at $1.0 million.
  • Annualised recurring revenue reached $8.3 million, up about 54% on the prospectus figure of $5.4 million.
  • Cash was $23.9 million at 30 September 2026, with no borrowings and no undrawn financing facilities.

SCX.ai Holdings Limited (ASX:SCX) released its September 2026 quarter report and Appendix 4C on 27 October 2026, covering cash flow, recurring revenue, infrastructure spending and partnerships in its first quarter as a listed company.

Cash Flow and Funding

Customer cash receipts were $1.9 million, compared with $0.6 million for the whole of the first half of 2026 and $2.5 million for the nine months to date. Operating cash flow was positive at $1.0 million, with staff, administration, research and development and marketing payments totalling $0.9 million.

Net cash from financing activities was $35.8 million, mainly the $40.0 million raised in the fully underwritten IPO less $4.2 million of transaction costs. The company held $23.9 million in cash at quarter end with no borrowings and no undrawn financing facilities.

Infrastructure Spending and Recurring Revenue

SCX invested $13.5 million in non-operating activities during the quarter, comprising $10.8 million of AI compute infrastructure, principally SambaNova SN40L equipment at the Equinix SY5 facility in Sydney, and $2.7 million of intellectual property. The company said the spend is consistent with the use of IPO proceeds outlined in the prospectus.

Annualised recurring revenue was $8.3 million, up about 54% from the $5.4 million disclosed in the prospectus at May 2026 and about 27% from the $6.5 million announced at listing. The company has passed 100 commercial customers across enterprise, business, distribution and pay-as-you-go segments. Average utilisation across Node 1 was about 50%, and Node 2 is targeted for deployment by the end of calendar year 2026.

Partnerships and Why This Could Matter

In October 2026 SCX joined the SpaceX Super Intelligence Partner Network and entered a commercial partnership with F5 to provide secure AI capacity from Node 1 and Node 2.

The report links customer receipts and recurring revenue to the capital spent on compute capacity. Cash of $23.9 million sits against $13.5 million invested in a single quarter, and Node 1 is about half utilised, which frames how much of the installed capacity is currently in use.

Final Takeaway

SCX.ai reported positive operating cash flow, higher recurring revenue and an expanded partner network, alongside substantial spending on compute infrastructure. Deployment of Node 2 is targeted by the end of this calendar year.