Weebit Nano Financial Interim Results (1H FY25)

Weebit Nano Ltd provides its interim results and Appendix 4D for the 6 months ended 31 December 2024 (1H FY25).

Key highlights:

• Signing of licencing agreement with tier-1 global semiconductor company, Semiconductor Components Industries, LLC (onsemi), to integrate Weebit’s Resistive Random-Access Memory (ReRAM) technology into its Treo platform as an embedded non-volatile memory
• Strong cash balance of A$97 million as of 31 December 2024, bolstered by a capital raise of A$50 million at a 6.5% premium to the 5-day VWAP
• Appointment of Ms Anne Templeman-Jones as Non-Executive Director to strengthen Board
• Expanded IP portfolio with 13 new patents related to Weebit’s ReRAM technology, with more than 80 patents and applications in place
• Advanced the technology transfer of Weebit’s ReRAM to DB HiTek, with demo chips being tested
• Boosted global sales team, promoted Lilach Zinger to VP Customer Success, and established goals to sign multiple new agreements with fabs and product companies by end of calendar year 2025

Coby Hanoch, CEO, Weebit Nano, said: “It was a significant 6 month period for Weebit. We are continuing to see growing interest in ReRAM technology across the industry, which was signified by the licencing agreement that was announced with tier-1 global semiconductor company onsemi. We also continued our progress with the technology transfer of our ReRAM IP at foundry partner DB HiTek, and expect to complete qualification in 2025.“

“The onsemi agreement was a significant achievement and has bolstered our position as the leading independent provider of ReRAM, and is now helping to progress discussions with potential customers. We have set ambitious targets for achieving further agreements with fabs and product companies by the end of 2025 and remain confident in this given the growing demand for more advanced non-volatile memory technology.“

 “The A$50 million raise resulted in a healthy cash position, helping create a runway to source and complete new agreements with fabs and product companies, and ensures we continue to have a market-leading technology through R&D. After the end of the period, we promoted Lilach Zinger to the position of VP Customer Success. As Weebit Nano expects to sign more foundry and IDM deals in 2025 and beyond, this new role will be instrumental in ensuring the success of the technology transfers, and all other customer related activities. Ms Zinger brings extensive experience in fab operations, having managed Tower Semiconductor Fab 1. Her expertise is key in understanding customer needs, optimising processes, meeting project timelines, and delivering on our commitments with the highest standards of quality and efficiency.“

Read Australian Security Exchange (ASX) Appendice 4D releases for more information