Bravura Solutions' (ASX:BVS) performance in the first quarter of fiscal 2025 was in line with expectations, keeping it on track to hit its earnings guidance for the fiscal year, according to a Wednesday filing with the Australian bourse.

In an address to shareholders, Chief Executive Andrew Russell said the software licensing company projects earnings before interest, taxes, depreciation, and amortization (EBITDA) of AU$36 million to AU$40 million and cash EBITDA of AU$28 million to AU$32 million for fiscal 2025.

Russell, however, noted that while the projected cash EBITDA margin is still below global benchmarks, it shows a "very positive trajectory" on which the company will build in the next financial year.

Bravura Solutions' shares were down nearly 4% in recent Wednesday trade.

Price (AUD): $1.45, Change: $-0.06, Percent Change: -3.97%