AUCyber Limited H1 FY25 Financial Report: Growth, Challenges, and Takeover Transition

Feb 18, 2025

AUCyber Limited (ASX: CYB), formerly Sovereign Cloud Holdings, rebranded on October 28, 2024. The company provides cloud and cybersecurity solutions for Australian organizations and government agencies. It expanded its services by acquiring PCG Cyber, Venn IT, and Arado businesses in May 2024.

For H1 FY25, revenue surged 196% to AU$12.3 million, but the net loss nearly doubled to AU$19.5 million due to an AU$14.7 million impairment loss on goodwill and customer intangibles. Cash reserves dropped to AU$5 million from AU$8.4 million in June 2024.

Cost-saving initiatives included employee restructuring and reduced licensing fees. In December 2024, 5G Networks Limited made a takeover bid, securing over 50% control by February 2025.

Total assets declined to AU$33.4 million, with net assets at AU$23.6 million. The company faces financial uncertainty due to ongoing losses, lack of FY25 guidance, and AU$1.9 million in takeover-related costs.

 

 

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