FirstWave Q3 FY26 Update: Wins and Momentum
2026-05-28
The FirstWave Q3 FY26 update tells a clear story: the move to AI-powered compliance management is landing with real customers. Two landmark public sector wins, on two continents, anchored the quarter. Open-AudIT 6 kept building a pipeline behind them.
Here are the highlights. For the full financial detail, see the Investor Centre.
Two landmark compliance wins
FirstWave signed Services Australia, the agency behind Medicare, Centrelink, and Child Support, to a A$1.85 million agreement for AI compliance management software. It is a landmark public sector win for the company. Read the detail in Services Australia adopts FirstWave AI compliance software.
In Mexico, Banobras selected FirstWave through a competitive tender for a two-year compliance subscription, the first substantial deal closed through a regional channel partner. Read the detail in Banobras selects FirstWave for AI compliance.
Different markets, same need: know what is on the network, and prove it stays compliant.
Open-AudIT 6 traction
Open-AudIT 6 continued to draw new users. Since its December 2025 release it has recorded 5,991 downloads, with a trial-to-commercial conversion rate of 6.09%.
Those numbers matter because they feed the commercial pipeline. A large, active community of Open-AudIT users is the warmest path to AI compliance upgrades, and the conversion rate shows that path is working.
The strategy behind the quarter
The through-line is compliance. FirstWave is positioning its products as the layer that gives organisations one view of their infrastructure and continuous, evidenced control over it.
The Services Australia and Banobras wins validate that direction with demanding buyers. The Open-AudIT 6 pipeline shows the demand sits well beyond the marquee names.
What comes next
The focus now is converting momentum into recurring revenue: more channel-led wins, more Open-AudIT 6 trials turning commercial, and continued progress on AI-powered compliance.
Book a demo to see the compliance story for yourself, or visit the Investor Centre for the full quarterly detail.