Excite Technology Growth, page-2

Key Highlights:

• Market Cap: $22M+
• Share Price: $0.11
• FY25 Revenue: $25M+ (50%+ growth)(with CDFS acquisition)
• Gross Margin: 50%+
• Tax Losses: Over $40M+ (providing significant tax benefits)

Management:

• Bryan Saba, CEO, brings over 10 years of experience and sold his IT business into EXT, holding 15%+ of the company.
• Neil Sinclair joined as a Non-Executive Director in the recent quarter, with senior roles at Dell, Microsoft, and Pacific National.

Recent Developments and Catalysts:

1. Revenue Acceleration: Excite has entered into an expanded agreement with Vocus, a leading fibre and network solutions provider, to on-sell Excite's Cyber Managed Detection and Response (MDR) services. This is a significant revenue-driving initiative.
2. Cash Flow Positivity: The company reported $6.29M in unaudited customer receipts, with net operating cash flows of $841K, marking a positive run rate of $3M+.
3. Customer Growth: Customer receipts in the latest quarter increased by $414K, and the company is on track to hit an annualized target of $10M by March 2025.
4. Strategic Acquisitions: The CBIT acquisition has strengthened Excite's cybersecurity and digital forensics capabilities, positioning them as an industry leader.
5. Potential Takeover: As the company gains traction, there is potential for a takeover in the rapidly consolidating cybersecurity space.

CDFS Acquisition Impact:

The acquisition of CDFS has had a transformative impact on EXT:

• Quarterly revenue surged to $5.07M, up from $1.06M in the prior quarter, driven by the CDFS integration.
• Positive EBITDA achieved in December 2024, marking a significant financial milestone.
• Key contract wins in the Digital Forensics division, including a $3.4M contract expansion with an Australian State Police Force.