Amaero (3DA) H2 2024 earnings summary

Executive summary

• Completed corporate restructuring and relocated headquarters and operations from Australia to Tennessee, USA, to become a leading U.S. supplier of C103, refractory, and titanium alloy powders for defense and space industries.

• Ceased Australian operations to focus on U.S. market, leveraging significant economic incentives and a 15-year lease on a 100,000 sq ft facility.

• Hired key executives with deep industry experience and appointed former U.S. National Security Advisor H.R. McMaster as Special Advisor.

• Secured a binding offtake and preferred supplier agreement for C103 AM powder with ADDMAN Group, achieving qualification ahead of schedule.

Financial highlights

• Reported net loss of A$18.8 million for FY2024, compared to A$12.5 million in FY2023.

• Revenue from continuing operations was A$463,856, up from A$68,301 in FY2023.

• Cash and cash equivalents at 30 June 2024 were A$12.0 million.

• Completed two equity capital raises totaling A$30 million during FY2024, plus an additional A$25 million post year-end.

Outlook and guidance

• Targeting EBITDA breakeven in FY2026, underpinned by material revenue from C103 offtake agreements.

• Expect to commence commercial sales in Q3 FY2025 and commission a second atomizer by June 2025.

• Ti-64 powder qualification expected by end of CY2024.