Cirata (CRTA) Trading Update summary

Bookings and commercial performance

• Q1FY25 bookings reached $3.0m, up 330% YoY, marking the strongest Q1 since 2019.

• Data Integration (DI) bookings rose 700% YoY to $2.4m, now 80% of total bookings.

• Secured a $2.0m, 3-year DI contract with a leading UK retailer, the first enterprise-wide license for both static and live data.

• Signed 14 contracts in Q1, including the first DMaaS contract via Databricks with a UAE telecom customer.

• Strategic wins validate Cirata's technology for large-scale data automation and hybrid cloud deployment.

Financial discipline and cash position

• Q1FY25 cash burn reduced to $1.4m, a 71% decrease from Q1FY24.

• Cash overheads for Q1 were $4.6m, with an annualized run rate of $16–17m, down from $25.1m in Q1FY24.

• Cash balance at 31 March 2025 stood at $8.3m.

• Operating leverage and sustainability remain key management priorities.

Strategic direction and operational updates

• "Land and expand" strategy is gaining traction, with major wins in retail and banking sectors.

• Product evolution is moving beyond Hadoop migration to broader data automation and orchestration.

• First Live Data Migrator (LDM) implementation under DMaaS offering launched with a UAE telecom client.

• North American DI bookings underperformed, with management focusing on sales process improvements.

• Management aims to enhance sales cycle predictability and reduce customer acquisition costs.