FBR (FBR) Q2 2026 TU earnings summary

Executive summary

• Achieved significant milestones including a new speed record for the Hadrian bricklaying robot and successful completion of a prototype demonstration for Samsung Heavy Industries.

• Secured a non-binding MOU for the sale of a Hadrian unit and received a binding purchase order for the first Mantis welding robot.

• Completed the Annual General Meeting with all resolutions passed and changes to the Board of Directors.

Financial highlights

• Cash receipts from customers totaled $22,000 for the quarter and $748,000 for the half-year.

• Net cash used in operating activities was $(2.06) million for the quarter, down from $(3.7) million in the previous quarter.

• Cash balance at quarter end was $870,000.

• Raised approximately $650,000 from share placements under the $20 million GEM facility.

• Drew down $3.74 million and $1.75 million from R&D tax incentive finance facilities.

Outlook and guidance

• Anticipates delivery of the first Mantis welding robot in the second half of CY2026, subject to successful factory acceptance testing.

• Expects to continue operations and meet business objectives, supported by access to a $20 million share subscription facility and additional R&D tax finance.