4DS Memory (4DS) H2 2025 earnings summary

Executive summary

• Reported a net loss after tax of $9,678,176 for FY25, a significant increase from $5,450,713 in FY24.

• Raised $8.6 million through placements and share purchase plans to fund ongoing R&D and obligations under a new design agreement with Infineon Technologies.

• Advanced development of Interface Switching ReRAM technology, with key milestones in the Fifth and Sixth Platform Lots, though initial results from the Sixth Platform Lot did not meet expectations.

• Completed a root cause analysis post-year-end, identifying etch residues as the cause of electrical shorting in the 20nm memory devices.

• Maintained strong industry partnerships, including renewed agreements with imec and Hitachi Global Storage Technologies.

Financial highlights

• Revenue for FY25 was $305,160, with other income of $8,050 and interest income of $382,226.

• Total expenses increased sharply, with research expenses rising to $7,885,090 from $3,590,548 year-over-year.

• Share-based payment expense was $412,240, with an additional $350,379 capitalized as a cost of capital raising.

• Cash and cash equivalents at year-end were $10,198,573, up from $7,884,294 in FY24.

• Net operating cash outflow was $7,781,815, compared to $4,707,364 in the prior year.

Outlook and guidance

• The company is engaging with partners to determine the most effective technical and strategic development pathways following the Sixth Platform Lot analysis.

• Directors have not provided specific forward-looking guidance, citing potential prejudice to the group.