Close the Loop Boosts Growth Outlook with New CEO and $30M Cash Reserve
Close the Loop Limited reports a robust cash position exceeding A$30 million and appoints Matthew Zimmer as CEO for North American operations, setting the stage for anticipated revenue and EBITDA growth in FY26.
- Cash on hand surpasses A$30 million as of June 30, 2025
- US$38 million bank debt maintained with strong working capital
- Matthew Zimmer appointed CEO of North American refurbishment and ITAD operations
- Mexico facility ramping up, expected fully operational in H1 FY26
- New global ITAD contracts in Asia and the UK to drive FY26 revenue growth
Strong Financial Foundation
Close the Loop Limited has revealed a solid financial footing as of June 30, 2025, with cash reserves exceeding A$30 million alongside US$38 million in bank debt. This balance underscores the company's well-capitalized status and strong working capital position, providing a sturdy platform for its ongoing expansion and operational initiatives.
Leadership to Drive North American Growth
The company has appointed Matthew Zimmer as the new Chief Executive Officer for its North American refurbishment and IT Asset Disposition (ITAD) operations. Zimmer, who brings a blend of domestic and international experience and holds degrees from Franklin University and Stanford University, is expected to spearhead operational excellence and strategic growth. His arrival on July 7, 2025, signals a renewed focus on scaling North American activities.
Operational Expansion and Market Opportunities
Close the Loop is ramping up its Mexico facility, targeting full operational capacity in the first half of FY26. This plant will primarily handle inkjet printers, accessories, and comprehensive refurbishment services for ITAD, including cosmetic repairs for laptops. Additionally, the company has secured new contracts in Asia and the United Kingdom through a key partner, broadening its global footprint and positioning it for sustained momentum over the next one to two years.
Outlook for FY26
Thanks to ongoing operational efficiencies and new project wins, Close the Loop anticipates increased revenue and earnings before interest, tax, depreciation, and amortisation (EBITDA) in the 2026 financial year. While the financial impact of recent projects will begin to materialize in FY26, the company remains focused on delivering stronger financial outcomes and long-term value for shareholders.
Bottom Line?
With a strong cash position and fresh leadership, Close the Loop is poised to accelerate growth and operational efficiency in FY26.
Questions in the middle?
- How will Matthew Zimmer’s leadership specifically influence North American market expansion?
- What are the projected financial contributions from the Mexico facility once fully operational?
- How significant are the new ITAD contracts in Asia and the UK to overall revenue growth?
