FBR (FBR) Q1 2026 TU earnings summary

Executive summary

• Launched Mantis™, a DST®-enabled welding robot targeting fabrication, mining, and shipbuilding sectors, expanding IP monetization beyond construction.

• Completed Factory Acceptance Testing for the latest Hadrian® unit, achieving over 285 blocks per hour in test builds.

• Filed provisional patents for new technologies, including Mantis™ and Firehawk, a DST® robot for steel ladle re-lining.

• Progressed business development in Australia, the USA, and the UAE, with strong interest in automation solutions.

Financial highlights

• Secured a $22 million finance package, including a $20 million share subscription facility, $1 million placement, and $1 million share purchase plan.

• Cash balance at quarter end was $1.0 million, up from $0.1 million in the previous quarter.

• Operating cash outflows were $3.1 million for the quarter, down from $4.5 million in the prior quarter.

• Receipts from customers totaled $726,000, including payments from Samsung Heavy Industries and asset disposals.

Outlook and guidance

• Focus remains on commercializing DST® technology across multiple industries and applications.

• Pipeline includes potential robot and automation system sales and growing interest in Wall as a Service®.

• Confident in ability to continue operations and meet objectives, supported by available finance facilities.