Inspire Semiconductor (INSSF) Q2 2025 earnings summary

Executive summary

• Focused on developing the Thunderbird 1 accelerated computing solution for HPC, AI, and blockchain markets, with a successful chip tape-out in April 2025, moving toward initial manufacturing and product launch.

• No revenue recognized in the six months ended June 30, 2025, as the company remains pre-revenue and in product development.

• Net loss increased to $3.76M for the six months ended June 30, 2025, up from $2.47M in the prior year period, driven by higher R&D, depreciation, and professional fees.

Financial highlights

• Net loss for the six months ended June 30, 2025: $3,757,484, compared to $2,474,221 for the same period in 2024.

• Cash and cash equivalents at June 30, 2025: $1,716,284, up from $520,240 at December 31, 2024.

• Working capital deficit at June 30, 2025: $3,789,271, increased from $965,492 at December 31, 2024.

• Total assets at June 30, 2025: $7,410,395; total liabilities: $9,149,976; shareholders' deficiency: $1,739,581.

• No revenue recognized in the period; all expenses relate to R&D and corporate operations.

Outlook and guidance

• Anticipates product launch of Thunderbird 1 following successful chip tape-out and initial manufacturing.

• Plans to finance ongoing R&D and operations through additional equity or debt capital; future financings are not guaranteed.

• Expects to close a $3M private placement in two tranches in August and October 2025.