Activeport (ASX:ATV) lands Spark and ViewQwest, unlocks A$6m ARR runway by FY28

Two carriers signed in launch week turn Global Edge into the front door for Australian connectivity.

Activeport Group (ASX:ATV) has taken its Global Edge platform international, and it did not go quietly. Spark, New Zealand’s largest telco, and Singapore ISP ViewQwest both signed contracts in launch week. Management is guiding to at least A$2 million of additional annual recurring revenue through FY27, growing past A$6 million in FY28.

For context, that is a step-change for a micro-cap whose network-as-a-service line has spent the last year finding its feet. The pitch to foreign carriers is simple. If you want to sell Australian connectivity to your enterprise customers, Global Edge lets you price, order and provision it on demand, with NBN national coverage baked in.

Two things make this different from Activeport’s earlier wins. First, these are recurring revenue contracts with named carriers, not memoranda of understanding. Second, the pipeline reference to Asia, India, Europe and the US suggests Spark and ViewQwest are templates, not one-offs.

That matters because the AI Gateway story we covered earlier this year was always going to need a distribution engine underneath it. This announcement starts to build one.

Why the ARR guidance is the number to anchor on

Micro-caps talk a lot about pipeline. Activeport has now put a specific ARR number against a specific product line, which is unusual and useful. A$2 million of incremental ARR by FY27 growing past A$6 million in FY28 is the sort of guidance the market can actually mark to.

The economics work because Global Edge is a self-service platform. Each new carrier that plugs in adds recurring revenue without a proportional increase in Activeport’s cost base. That is the operating leverage we look for in software businesses at this size.

Our concern is that the guidance assumes further carriers sign on the same terms as Spark and ViewQwest. If the FY28 number depends on five more launch-week style wins across Asia, Europe and the US, execution risk sits squarely on the sales team.

The AI Gateway story now has a distribution channel

Earlier in 2026 we wrote about Activeport’s AI Gateway deal with FirstWave and an Australian neocloud operator, where the company takes 6% of GPU consumption revenue plus port and transit fees. The obvious question then was how Activeport would scale that model beyond one anchor customer.

Global Edge now looks like the answer. Cloud on-ramps, datacentre connectivity, managed firewalls and AI gateways are all flagged as follow-on products that will sit on the same carrier portal. Every international telco signed to Global Edge becomes a potential channel for the AI Gateway product without a new sales cycle.

The skeptical read is that layering products onto a portal only works if the underlying platform is genuinely differentiated. Two signed carriers in launch week is a decent early proof point. Ten by year-end would settle the argument.

The Investors Takeaway for Activeport Group

The setup for the next twelve months is now clear. Investors should be watching the cadence of new international carrier signings and the ARR trajectory against the A$2 million FY27 marker. Miss that number and the FY28 A$6 million figure loses credibility. Hit it comfortably and the operating leverage story starts to compound.

We think the more interesting optionality sits in the product pipeline rather than the carrier count. Cloud on-ramps and AI gateways carry richer economics than plain connectivity, and Activeport controls the portal they get sold through. Investors can find our earlier coverage of the AI Gateway deal at stocksdownunder for the underlying revenue-share model.

For now, Global Edge going international turns Activeport from a story stock into one with a specific ARR line to defend. That is the right kind of pressure to be under.