FBR (FBR) Q4 2025 TU earnings summary

Executive summary

• MoU executed for sale of Hadrian XⓇ unit to Habitat NT for A$7.8m, targeting Darwin's construction market.

• Engineering Services Agreement signed with Samsung Heavy Industries for DSTⓇ-enabled shipbuilding automation.

• Launch of Mantis, a DSTⓇ-enabled welding robot for fabrication, mining, and shipbuilding sectors.

• Company restructure and cost rationalisation program substantially completed, targeting 70% annual cost reduction.

• Ongoing discussions with US customers and financiers for Hadrian XⓇ deployment and funding.

Financial highlights

• A$6.3m raised via placement in April and May 2025; cash balance at 30 June 2025 was A$100k, rising to A$1.4m by 31 July 2025 after asset sales and financing.

• Net cash used in operating activities for the quarter was A$4.7m; year-to-date net cash used was A$19.3m.

• One-off redundancy and restructuring costs of A$2.5m incurred during the quarter.

• Payroll, overheads, and corporate costs (excluding one-offs) were A$1.7m for the quarter, down from A$5.0m in the previous quarter.

Outlook and guidance

• Delivery of Hadrian XⓇ unit to Habitat NT expected in H2 CY2025, anticipated to be cashflow positive.

• First phase of shipbuilding automation project with Samsung Heavy Industries to be completed in H2 CY2025.

• Company expects to continue operations and meet objectives based on recent cash inflows and further fundraising initiatives.