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Highlights

  • Renewed US$2.4M global social media contract and won a key cyber sub-contract in a US$920M U.S. federal program.

  • Achieved Q1 revenue of US$309.5K and kept operating expenses below forecast.

  • Improved AI capabilities through partnerships and new bids with U.S. defense agencies.

Cybersecurity firm WhiteHawk Limited (ASX:WHK) has announced a series of contract wins and strategic partnerships in its latest quarterly report. During the first quarter of 2025, WhiteHawk invoiced US$382,000 and closed the period with US$207,000 in receivables. The company’s standout achievement was the renewal of a global social media cybersecurity contract for another two years, valued at US$2.4 million. In addition, WhiteHawk secured a significant subcontractor role within a US$920 million 10-year U.S. Federal Government cybersecurity initiative.

Further bolstering its U.S. footprint, the company was awarded the first-ever City Wide Cyber Risk Radar Contract with the City of Atlanta, worth US$92,000. It also signed contracts with Georgetown University, Cailabs, and Norwich University Applied Research Institute, reflecting diversification across government, academia, and commercial sectors.

From a financial standpoint, WhiteHawk reported US$309,500 in revenue for the quarter, with operating expenses kept below plan at an average of US$256,000 per month. Net operational cash outflow totaled US$414,000. The company also disclosed payments to related parties for salaries and services rendered by directors and key management.

To maintain liquidity, WhiteHawk successfully completed Placement Tranche 2 on April 4, raising A$535,000 (US$335,605). 

Looking forward, WhiteHawk's outlook is shaped by its recent selection as the core cyber partner on the GSA SCRIPTS BPA. The company is also advancing its AI capabilities through collaborations with Knexus Research LLC, Babel Street, and Dun & Bradstreet. This alliance is focused on developing a cutting-edge, AI-driven suite of tools aimed at improving visibility into supply chain vulnerabilities.

WhiteHawk is actively responding to funding opportunities through the DARPA Open BAA and is submitting an application to the Office of the Secretary of Defense CDAO Tradewinds Program. 

The company believes its recent contract renewals and expanding pipeline will lead to improved cash flows.