Latest Cloud Services News

Comms Group has $24.3 million in cash after selling its onPlatinum IT managed services division, but the size and tax structure of any shareholder distribution remain unresolved. The company is seeking an ATO ruling before its board decides how much surplus capital to return.

icetana AI has signed a five-year, $675,480 plus GST Antara Core contract with Millennium Services Group for deployment to one of Australia’s largest retail property groups. The deal is the third Antara Core sale in three months and is expected to add $135,096 to annual recurring revenue from 1 November 2026.

AUCyber Limited reported a 28% revenue decline to $19.98 million in FY26 but cut its net loss by 87% to $4.78 million, driven by exiting low-margin contracts and cost discipline. CEO Joseph Demase now also serves as Chair, steering a strategic shift towards sovereign AI and private cloud solutions.

5G Networks grew revenue by 13% to $71.4 million in FY26, buoyed by enterprise and cloud services including its cyber security acquisition AUCyber. Despite positive underlying EBITDA, net losses widened due to acquisition-related costs as the company pursues integration and data centre growth.

Oakridge International Limited has reversed its fortunes with a 42% revenue increase to $3.45 million and a return to profitability in FY2026, driven by healthcare technology sales and strategic platform enhancements.

Morphic Ethical Equities Fund Limited delivered a 1.34% rise in net profit to $7.32 million for FY26, outpacing its benchmark with a 29.11% portfolio return and announcing a fully franked 1.4 cent dividend alongside plans for a substantial share buyback.

Spark New Zealand restructures into Connectivity and Digital Services divisions, initiating a strategic review of its Digital Services arm to explore shareholder value maximisation. Leadership changes accompany the move, while FY26 guidance remains steady.

Elsight Limited (ASX:ELS) has shattered its revenue records in H1 2026, delivering a nearly fourfold increase over the prior year alongside expanding US defence contracts and new product launches.

Archer Materials has secured a three-year strategic deal with IonQ, the global quantum computing leader, gaining access to advanced quantum cloud services and exploring onshore deployment of quantum hardware in Australia.

Comms Group has agreed to divest its onPlatinum IT managed services division for A$30 million, a move that simplifies its business and boosts balance sheet strength ahead of FY27.

StepChange Holdings expects FY26 revenue to exceed $55 million with normalised EBITDA of $5 million, driven by organic growth and the BroadReach acquisition. The company also strengthens its leadership by appointing Giuseppe Todesco as COO.

icetana AI has scored its first commercial wins for Antara Core, an on-premise AI surveillance platform, with prepaid contracts worth $617,000 from Millennium Services Group. The deal also debuts its floor hazard detection technology in major Australian shopping centres.