Cleartronic, Inc.

What they do

Cleartronic, through its wholly owned subsidiary ReadyOp Communications, markets and sells subscriptions to the ReadyOp, ReadyMed, and Alastar software platforms, as well as AudioMate IP gateways. ReadyOp is a web-based planning and communications platform used by government agencies, corporations, school districts, utilities, and hospitals for daily operations and emergency response. ReadyMed is a secure communications platform for the healthcare industry, and Alastar was acquired in August 2024, adding a client list and software platforms. The company sells these as software-as-a-service on annual or multi-year contracts.

Revenue drivers

• ReadyOp subscriptions — Primary revenue source; increased from $2.41M in FY2024 to $3.69M in FY2025, reflecting growth in license sales.
• ReadyOp hardware products (AudioMate gateways) — Sales decreased significantly from $672,000 in FY2024 to $85,195 in FY2025, indicating a shift toward software subscriptions.
• Consulting fees and related income — Grew from $39,200 in FY2024 to $326,920 in FY2025 due to increased contract development activities.
• ReadyMed and Alastar platforms — Part of the subscription offerings, though no separate revenue breakdown is provided; Alastar adds a client list for potential growth.

Recent performance

For the fiscal year ended September 30, 2025, revenue increased 31.26% to $4.1 million, with gross margin expanding to 78.23% from 72.29%. However, operating expenses rose 32.72% to $3.4 million, leading to a net loss of $154,219, an improvement from the $272,125 loss in FY2024. Operating cash flow was positive at $284,118. Quarterly revenue in fiscal 2026 ranged from $1.1 million to $1.3 million, with total assets and liabilities both at $1.4 million as of June 30, 2026, resulting in negative shareholder equity of -$22,836.

Strategy

Management is focused on growing ReadyOp subscriptions, as evidenced by the strong revenue growth in that segment. The company is integrating the Alastar platform into ReadyOp and enhancing capabilities for existing and new clients. They are investing in payroll and personnel related to the Alastar acquisition, and have reduced research and development spending, with less emphasis on FedRAMP certification costs. The company is also transitioning hardware customers to software subscriptions, which contributed to the decline in hardware sales.

Risks

• Negative shareholder equity — As of June 30, 2026, total liabilities equal total assets at $1.4 million, resulting in negative equity of -$22,836, posing a solvency risk.
• Dependence on subscription renewals — Revenue growth relies on annual or multi-year contracts; if clients do not renew, revenue could decline.
• Operating losses — The company has reported net losses in both FY2024 and FY2025, indicating ongoing profitability challenges.
• Limited liquidity — With cash and equivalents of $1.0 million and total liabilities of $1.4 million, the company may face near-term liquidity constraints.

Outlook

Management reports that they continue to support Alastar clients and add new ones, while transitioning functionality into ReadyOp. The company plans to continue these transition and enhancement activities. They anticipate continued growth in ReadyOp subscriptions and contract development revenue, which helped offset increased costs in FY2025. However, the company does not anticipate paying dividends and faces risks from its negative equity position.