FBR (FBR) H2 2025 earnings summary

Executive summary

• Achieved first international deployment of Hadrian® robot, completing a US Demonstration Program and earning US$2 million; built a full house structure in a single shift with three people, demonstrating commercial viability.

• Entered an Engineering Service Agreement with Samsung Heavy Industries for shipbuilding automation, marking the first contract R&D work.

• Launched Mantis™, an 8m-reach DST®-enabled welding robot, with strong preliminary interest from defence and industrial sectors.

• Restructured business, reducing costs by ~70% while maintaining core team and securing up to $20 million in funding via GEM Global Yield.

• Transitioned to selling Hadrian® units in addition to Wall as a Service® model, with a MoU for the first unit sale.

Financial highlights

• FY25 revenue: $1.31 million, up 57% year-over-year (FY24: $836,711), mainly from property sales.

• R&D tax rebate: $3.4 million (FY24: $5.2 million), reflecting decreased eligible R&D spend.

• Pre-tax loss: $82.95 million (FY24: $27.77 million), driven by a $52.2 million impairment charge and continued investment in Hadrian® and US programs.

• No dividends proposed or paid during the period.

Outlook and guidance

• Focus on commercialising Hadrian® and Mantis™ with outright sales and WaaS® model.

• Anticipates first Mantis™ deliveries and further Hadrian® sales in 2026.

• Ongoing R&D and commercialisation partnership with Samsung Heavy Industries expected to continue beyond initial phase.

• Confident in imminent Hadrian® machine sales and continued access to R&D tax incentives and funding facilities.