Bridge SaaS Reports $268K Operating Cash Outflow, Plans $3.5M Placement

Strategic Shift After Brightside Divestment

Bridge SaaS Limited (ASX:BGE) has taken a decisive step to streamline its operations and sharpen its focus on its core New South Wales disability services business and software platform development. On 13 July 2026, shortly after the quarter ended, Bridge completed the sale of its entire stake in Brightside for $1.5 million in cash. The proceeds roughly matched the original investment cost and included a positive return from dividends, providing a meaningful boost to the company’s cash reserves.

This divestment follows a strategic review and signals Bridge’s intent to concentrate on commercialising its NDIS-focused software tools and advancing research in artificial intelligence and humanoid robotics within the Australian disability services sector.

Progress in Software and AI Innovation

Bridge continued to develop its software platform tailored to the National Disability Insurance Scheme (NDIS) environment during the June quarter. The platform aims to integrate participant and worker matching, onboarding, rostering, care notes, incident reporting, and compliance into a cohesive workflow designed for the regulated sector.

Complementing this, the company is advancing research into AI-assisted rostering, documentation automation, incident escalation prompts, and smart-home monitoring technologies. Notably, Bridge is exploring strategic partnerships with US-based humanoid robotics developers to accelerate innovation in assistive devices and workforce productivity enhancements.

NSW Operations Remain Core

Bridge’s wholly owned subsidiary, Bridge Disability Support Pty Ltd, continues to operate its first Supported Independent Living (SIL) residence in Southwest Sydney. This site, opened in November 2025, serves as a practical testbed for refining the company’s software and assistive technology roadmap, feeding real-world insights back into product development.

Capital Management and Funding Outlook

During the quarter, Bridge issued 19.98 million loyalty options to shareholders at no cost, exercisable at $0.03 each and expiring in May 2031. This move is designed to incentivise shareholder support while preserving capital flexibility.

At its June extraordinary general meeting, shareholders approved a placement to raise up to $3.5 million through the issue of shares priced at $0.015 each, accompanied by placement and broker options. However, as of this report, the placement has not been completed, leaving some uncertainty around near-term funding.

Financially, Bridge reported net cash used in operating activities of $268,000 for the quarter, with cash and cash equivalents dwindling to just $35,682 at 30 June 2026. The company acknowledged only 0.1 quarters of available funding based on this cash balance and operating cash outflow. The post-quarter Brightside sale materially improves this position, providing additional runway to support operations and technology development.

Governance and Related Party Payments

Payments to related parties, including director remuneration and associated costs, totalled $46,000 during the quarter, reflecting routine corporate governance expenses.