FBR (FBR) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 was $551,558, primarily from the sale of USA specification Mack trucks and a Samsung Heavy Industries development contract.

• The period marked a strategic shift to a dual-engine growth model, expanding from Hadrian®-centric technology to a diversified commercial enterprise with global export and domestic construction capabilities.

• New product launches included the Mantis™ robotic welder and, post-period, the Firehawk™ autonomous refractory lining robot, targeting new industrial applications.

• A comprehensive $22 million funding strategy was executed, including a $20 million GEM Share Subscription Facility and $1 million each from a private placement and share purchase plan.

• Net loss for the period was $5,289,892, a significant improvement from the prior period's $16,867,245 loss.

Financial highlights

• Revenue decreased by $42,306 compared to the previous period.

• Loss for the period was $5,289,892, including an R&D tax rebate of $2,489,394.

• Cost of goods sold was $528,661; professional services, corporate administration, and remuneration totaled $4,502,047.

• Non-cash share-based payments, depreciation, amortisation, and impairment amounted to $2,764,089.

• Basic and diluted loss per share was 0.11 cents, improved from 0.35 cents in the prior period.

Outlook and guidance

• First Mantis™ units are expected to be delivered in the second half of 2026.

• Firehawk™ robot anticipated to come online in 2027, with strong early interest.

• Management forecasts rely on R&D incentive refunds, continued access to the GEM facility, and sales of new products.