Data3 (ASX:DTL) announced at its annual general meeting, held today, record gross revenue of $2.8 billion for fiscal year 24, representing 7.6% year-on-year growth despite economic challenges such as inflation and reducing company spending.
The Brisbane-based company provides a broad range of technology services across software, infrastructure, cloud, cybersecurity and data solutions, targeting sectors including government, education, healthcare and finance.
Data3’s revenue growth was driven by strong performances in key divisions, particularly Software Solutions and Managed Services, which posted increases of 11% and 12%, respectively. The company’s cybersecurity offerings have also seen considerable growth, highlighted by the recent launch of its Security Operations Center (SOC) in Brisbane. The SOC is designed to offer high-level local security monitoring and support to customers facing sophisticated cyber threats.
“Despite economic challenges, we continue to help our customers leverage digital solutions effectively. Our investments in technological innovation and dedicated service are the backbone of our continued growth,” said CEO Brad Colledge.
Beyond cybersecurity, Data3 has become a leader in AI integration, especially through its work with Microsoft’s Copilot, a generative AI tool that improves business productivity. As one of the selected global participants in Microsoft’s Copilot Early Adopter program, Data3 has provided AI readiness assessments to help organizations use AI tools while ensuring strong data governance.
The company is debt-free and expects pre-tax earnings growth for the first half of fiscal 2025 of between $31 million and $33 million, supported by rising interest income and a number of projects spanning Australia and Fiji.