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Amaero (3DA) investor relations material
Amaero Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue rose 34.9% YoY to $4.113M; 9M revenue increased 169.6% to $11.510M.
Backlog reached $13.437M at September 30, up 180% YoY; $4.4M was tied to a Department of War refractory-alloy powder contract.
Q3 gross loss widened to $4.380M and net loss was $9.057M, reflecting ramp costs, the titanium restart and lower yields.
FY2026 revenue guidance is $16.0M–$16.5M, up 154%–162% YoY; management said additional financing is required and substantial doubt about continuing as a going concern remains.
Financial highlights
Q3 cost of revenue was $8.493M versus $3.050M a year earlier; gross loss was $4.380M versus $0.1M.
Q3 operating loss was $8.794M and net loss attributable to stockholders was $9.057M, or $0.38 per share; 9M operating and net losses were $22.004M and $22.490M.
Adjusted EBITDA loss was $7.114M in Q3 versus $3.072M; 9M Adjusted EBITDA loss was $15.625M versus $10.722M.
Net cash used in Q3 operating activities was $6.340M; 9M operating cash use was $19.2M and investing cash use was $13.9M.
September 30 cash and equivalents were $4.959M, restricted cash was $4.7M, and total debt net carrying value was $23.0M.
Outlook and guidance
Q4 2026 revenue guidance is $4.5M–$5.0M, implying 121%–146% YoY growth; H2 revenue is projected at $8.6M–$9.1M.
Guidance assumes titanium output from two atomizers at doubled throughput capacity and DoW program revenue recognized through August 2027; $13.4M of backlog is expected to convert within 12 months.
Argon recycling commissioning is targeted for Q1 2027 and the fourth EIGA atomizer for June 2027; the latter would lift annual powder capacity to 920 MT.
Higher utilization and output are expected to improve gross margin through operating leverage; approximately $10.0M of further investment is expected to complete the current capacity build-out.
- Domestic alloy powders and PM-HIP target supply gaps amid losses and heavy capital needs.3DA
Registration filing - Capacity expansion and rising backlog meet a sharp funding and execution test.3DA
Registration filing - A $15.7m IPO funds capacity growth, but substantial going-concern doubt remains.3DA
Registration filing - A domestic advanced-materials scale-up seeks IPO capital amid losses and execution risks.3DA
Registration filing - Stockholders voted on equity plans, share issuance, and director compensation changes.3DA
EGM 2026 - Revenue up 376% to $18.1M, but net loss widened; strong backlog amid going concern risk.3DA
H2 2026 - Record revenue growth, strong backlog, and U.S. IPO plans mark a pivotal year.3DA
Q4 2026 TU - Poised for rapid growth, Amaero leads U.S. advanced powder production and targets a U.S. IPO.3DA
IAccess Alpha Virtual Best Ideas Summer Investment Conference 2026 - Shareholders and option holders strongly approved all proposed schemes and director option grants.3DA
Scheme Meeting 2026 presentation
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