CAP-XX reports narrower half-year losses
By Josh White
Date: Monday 17 Feb 2025
(Sharecast News) - CAP-XX reported a reduced loss for the six months ended 31 December on Monday, with operating cost reductions and lower legal expenses driving an improvement in financial performance.
The AIM-traded graphene supercapacitor specialist posted an adjusted EBITDA loss of AUD 0.8m (£0.4m), an AUD 0.3m improvement from the prior year, while its loss after tax halved to AUD 1.7m from AUD 3.4m.
Revenue for the period rose 6.8% to AUD 2.4m, while the gross margin remained stable at 35%.
The company highlighted a 30% reduction in operating costs compared to the prior year, reflecting restructuring efforts undertaken in 2024.
Cash at bank stood at AUD 4.2m at period-end, bolstered by an AUD 5.7m capital raise, with a further AUD 1.2m in research and development tax credits received in January.
The board said current trading included initial contributions from the company's partnership with Schurter.
In January, billings rose 62% year-on-year to AUD 0.32m, while bookings increased 27% to AUD 0.28m.
The company reported a backlog of AUD 1.2m and a book-to-bill ratio of 0.88 at the end of January, with cash reserves rising to AUD 5m.
At 1147 GMT, shares in CAP-XX were down 2.04% at 0.12p.
Reporting by Josh White for Sharecast.com.
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