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IperionX (IPX) investor relations material
IperionX H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Transitioned from development to commercial production, commissioning the Virginia Titanium Manufacturing Campus and increasing nameplate capacity by 60% to 200 tpa without additional capex.
Secured $47.1 million in U.S. Department of War (DoW) funding and a $99 million SBIR Phase III contract, with the first $1.3 million Army order received.
Completed $70 million equity placements to fund expansion and long-lead items, supporting a planned 7x production increase to 1,400 tpa by mid-2027.
Achieved zero lost-time injuries and produced 100% U.S.-made recycled titanium powder with >90% lower carbon footprint than conventional methods.
Advanced the Titan Project in Tennessee, one of the largest U.S. titanium, rare earth, and zircon mineral resources, with a government-funded Definitive Feasibility Study underway.
Financial highlights
Net loss after tax for FY25 was $35.3 million, compared to $21.8 million in FY24, driven by increased R&D, administrative, and share-based payment expenses.
Cash reserves at June 30, 2025, were $54.8 million, up from $33.2 million in 2024; net assets increased to $92.4 million from $51.3 million.
Raised $71 million in share placements during the year, with an additional $46 million raised in July 2025.
No dividends declared or paid.
Outlook and guidance
Targeting a 7x expansion in titanium production capacity to 1,400 tpa by mid-2027, with a long-term goal of +10,000 tpa by 2030.
Projected unit costs to fall to ~$29/kg at full scale, aiming for cost competitiveness with stainless steel and aluminum.
Ongoing development of the Titan Project to secure domestic feedstock and vertical integration.
Continued focus on scaling customer contracts across defense, mobility, electronics, and industrials.
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