Data3 (ASX:DTL) has announced record gross sales of $2.8bn for FY24 at its Annual General Meeting, held today, representing 7.6% year-over-year growth despite economic headwinds like inflation and tightened corporate spending.
The company, headquartered in Brisbane, provides a wide range of technology services across software, infrastructure, cloud, cybersecurity and data solutions, targeting sectors including government, education, health and finance.
Data3's revenue growth was driven by robust performances in key divisions, particularly Software Solutions and Managed Services, which recorded increases of 11% and 12%, respectively. The company’s cybersecurity offerings also saw considerable growth, highlighted by the recent launch of its Security Operations Centre (SOC) in Brisbane. The SOC is designed to offer local, high-standard security monitoring and support to clients facing sophisticated cyber threats.
“Despite economic challenges, we continue to help our customers harness digital solutions effectively. Our investments in technology innovation and dedicated service are the backbone of our consistent growth,” said CEO Brad Colledge.
In addition to cybersecurity, Data3 has become a leader in the integration of artificial intelligence, especially through its work with Microsoft’s Copilot, a generative AI tool that enhances enterprise productivity. As one of the select global participants in Microsoft’s Copilot Early Adopter Program, Data3 has been providing AI readiness assessments to help organisations utilise AI tools while ensuring robust data governance.
The company is debt free, and projects pre-tax profit growth for the first half of FY25 between $31 to $33 million, bolstered by rising interest income and a pipeline of projects that spans Australia and Fiji.
