FBR (FBR) H1 2025 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2024 was $593,864, a 13% decrease year-over-year, primarily from residential land sales and Wall as a Service activities.

• Net loss increased 6% to $16,867,245 compared to the prior period, driven by high operating and development costs.

• Significant operational milestones included the completion of the US Demonstration Program with Hadrian XⓇ, construction of demonstration homes for major US builders, and a new agreement with PulteGroup.

• Raised $12.5 million via share placement and $8 million through a fully underwritten share purchase plan, strengthening liquidity.

• Material uncertainty exists regarding the Group's ability to continue as a going concern due to ongoing losses and cash outflows.

Financial highlights

• Revenue declined to $593,864 from $683,113 year-over-year.

• Net loss for the period was $16,867,245, up from $15,884,805 in the prior year.

• Cost of goods sold was $608,284; professional services, administration, and remuneration totaled $11,346,657.

• R&D tax rebate of $2,257,867 recognized; USA deployment costs were $1,891,123.

• Basic and diluted loss per share were both (0.35) cents, compared to (0.41) cents in the prior period.

Outlook and guidance

• Continuation of the Hadrian XⓇ program depends on further capital raising and ongoing eligibility for R&D tax incentives.

• Cash flow forecasts indicate sufficient working capital for the next 12 months, contingent on successful equity raises and tax incentives.