Etherstack smashes FY25 targets with 70% revenue surge

Etherstack (ASX:ESK) logged preliminary results for the 2025 fiscal year, reporting a 70% surge in revenue to US$10.1 million.

The performance landed at the top end of market guidance and was supported by US$12 million in cash receipts, marking the company’s eighth consecutive year of positive operating cash flow.

The growth is primarily attributed to the deployment of Etherstack’s world-leading "InterWorking Function" technology, a mission-critical software bridge that allows traditional public safety radio networks to communicate seamlessly with modern 4G and 5G carrier networks.

Looking ahead, management has issued a confident revenue guidance range of US$16.2 million to $17.5 million, representing a further 60% year-on-year increase.

The trajectory is underpinned by a record US$40 million order book, driven largely by major long-term contracts with AT&T FirstNet in the United States and the UK Home Office’s Emergency Services Network.

Etherstack is eyeing a massive global scale-up. As 3GPP standards mandate this technology for cellular carriers worldwide, the company believes up to 200 national or regional carriers will eventually require IWF solutions.

At the time of reporting, Etherstack's share price was $0.56.