Ensurge Micropower (ENSU) Q3 2025 earnings summary

Executive summary

• Appointed Shauna McIntyre as CEO, bringing extensive leadership experience from energy and tech sectors.

• New Board of Directors elected, including Alex Munch-Thore as Chairman.

• Entered Joint Development and Investment Agreements with Corning to co-develop ultra-high performance microbatteries.

• Shipped high-quality battery products to customers, advancing from prototype to production validation.

• Improved manufacturing throughput and quality, leveraging roll-to-roll cell layer manufacturing.

Financial highlights

• Revenue and other income for the first nine months of 2025 totaled USD 25 thousand, down from USD 61 thousand year-over-year.

• Operating costs decreased to USD 5,173 thousand from USD 8,755 thousand, mainly due to capitalization of R&D costs.

• Net loss for the first nine months of 2025 was USD 5,501 thousand (USD 0.01 per share), improved from USD 10,243 thousand (USD 0.02 per share) in 2024.

• Cash balance at 30 September 2025 was USD 2,664 thousand, down from USD 7,947 thousand a year earlier.

• Equity ratio improved to 25% from negative 16% year-over-year.

Outlook and guidance

• Focus on commercializing solid-state microbatteries for high-growth markets such as wearables, IoT, and defense.

• Ongoing multi-year paid development programs with leading device manufacturers.

• Material uncertainty remains regarding funding for the next 12 months; additional capital raising is planned.