Graphjet Technology (GTI) Q3 2025 earnings summary

Executive summary

• Completed a reverse recapitalization with Energem, resulting in a new public listing and significant changes to capital structure and share count.

• Transitioned from a pre-revenue phase to generating initial revenues from side product sales in June 2025.

• Focused on commercializing patented technology for low-cost, sustainable graphene and graphite production from palm kernel shells.

Financial highlights

• Revenue for the nine months ended June 30, 2025 was $49,316, up from zero in the prior year period.

• Net loss for the nine months ended June 30, 2025 was $22.8 million, a 36% increase from $16.7 million in the prior year.

• Operating expenses for the nine months ended June 30, 2025 were $22.1 million, including a $19.2 million share compensation expense related to warrant issuance.

• Cash at June 30, 2025 was $51,314, down from $348,655 at September 30, 2024.

• Accumulated deficit reached $48.6 million as of June 30, 2025.

Outlook and guidance

• Management expects improved gross margins upon commencement of official graphite production.

• Plans to raise additional capital through equity or debt to support ongoing operations and expansion.

• Uncertainty remains regarding the ability to continue as a going concern beyond the next 12 months without further funding.