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IperionX (IPX) investor relations material
IperionX Q1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reshoring a low-cost, sustainable U.S. titanium supply chain using innovative technologies and 100% titanium scrap feedstock, with rapid growth supported by U.S. Department of Defense funding.
All major manufacturing equipment is operational, enabling higher titanium powder production and component manufacturing in Virginia.
Nameplate titanium powder production capacity increased by 60% to 200 tpa without additional capital spend, with further increases expected in 2026.
Expansion underway to become the largest and lowest-cost U.S. titanium powder producer, targeting 1,400 tpa by 2027 and over 10,000 tpa by 2030.
Aims to disrupt the $300+ billion stainless steel and aluminum markets, leveraging a vertically integrated solution and experienced management.
Financial highlights
Market capitalization of approximately $1.9 billion as of October 7, 2025.
Cash position of $100 million as of June 30, 2025, pro-forma capital raise.
Closed the quarter with $79.2 million in cash as of September 30, 2025.
Capex for expansion estimated at $75 million, funded by a $47.1 million U.S. DoD award, $101 million cash, and potential $99 million in DoD SBIR Phase III task orders.
Net cash used in operating activities was $7.8 million for the quarter.
Outlook and guidance
Targeting lowest cost titanium powder production at $29/kg at full utilization.
Further increases in titanium powder production capacity expected in 2026.
Positive EBITDA inflection point projected by year-end 2026 as sales scale.
Commissioning of 1,400 tpa expansion planned for mid-2027, aiming to be the largest and lowest-cost U.S. titanium powder producer.
Ongoing technical studies and feasibility for the Titan Project, with completion anticipated in Q2 2026.
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