ASX

Scalare (ASX: SCP) released its EOFY fourth quarter results on Friday, holding $1.82 million in cash at June 30, up from $468,000 in the previous quarter.

The statutory operating cash flow was $2.71 million, boosted by $2.49 million in landlord incentives for office fit-outs. Offset by related expenditure, the company said its underlying net cash outflow for the June quarter was $561,000.

Customer receipts hit $5.29m for Q4, broadly flat on the March quarter of $5.26m, but well ahead of the $639,000 result 12 months ago, thanks to several acquisitions, including national startup offices company Tank Stream Labs.

Scalare acquired the Fishburners brand assets in early June after the pioneering startup hub was placed in voluntary administrators in May following “failed efforts to resolve long-standing rental legacy debt” owed to the NSW government, involving the now-closed Sydney Startup Hub.

The ASX announcement did not disclose the price paid in a brand assets deal that saw Fishburners exit the state government’s Tech Central facility, and all staff depart..

The company plans to use the Fishburners brand and community to drive more founder services, corporate partnerships and recurring revenue across the group.

Scalare says its combined ecosystem now has a database of around 40,000 founders and alumni and has supported more than 10,530 startups.

CEO Carolyn Breeze said the Fishburners deal was another step towards building “Australia’s most comprehensive founder ecosystem through strategic acquisitions, new platform launches and disciplined financial management”.

“While our reported cashflow reflects the accounting treatment of lease incentives and timing of fitout expenditure, our focus remains on disciplined capital management as we integrate Fishburners, expand recurring revenue and build Australia’s leading founder ecosystem,” she said.

A month ago Scalare announced that it had received binding commitments to receive $5,000,000 (before costs) via the issue of a convertible note facility to a new investor, subject to shareholder approval.

The facility also potentially includes a further $20 million in funding, subject to conditions and additional approvals.

Scalare said the proceeds will be used for new investments, marketing and general working capital. It also plans a bonus issue following shareholder approval in an attempt to reduce the dilution impact on existing investors. An initial $500,000 loan component was received last month.

Scalare listed on the ASX in late 2024 after raising $4.3 million at $0.25 cents a share. Its shares currently sit at $0.056, down from a high of $0.18 in July 2025.