)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Surface Transforms
Surface Transforms (SCE) investor relations material
Surface Transforms has been delisted
Surface Transforms H2 2025 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2025 TU earnings summary19 Jan, 2026
Executive summary
Revenue grew 120% year-over-year to £18.0m for FY25, with record second-half sales of £9.9m.
Operating loss before interest and tax reduced nearly threefold to £8.7m, with significant improvement in the second half.
FY25 marked a transformative year, with substantial progress in scaling production and process improvements.
Demand remains strong, and the business is positioned for growth in 2026.
Financial highlights
Revenue increased to £18.0m from £8.2m in FY24, with H2 revenue of £9.9m versus H1's £8.1m.
Operating loss before interest and tax improved to £8.7m from £23.4m in FY24; H2 loss was £3.5m, down from H1's £5.2m.
Gross cash at year-end was £1.0m, up from £0.5m in FY24.
Capital expenditure rose to £8.6m, supported by full utilisation of a £13.2m ERDF loan.
Customer prepayments stood at £13.3m at year-end, slightly higher than £12.9m at mid-year.
Outlook and guidance
Revenue for FY26 is expected to reach approximately £27.0m.
Management targets EBITDA breakeven in FY26.
New furnace installation is expected to be operational by end of Q2 2026, supporting further growth.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from Surface Transforms
- Revenue up 72% to £8.1m, margin at 64%, and full-year outlook raised to £20m.SCE
H1 2025 - H1 2025 revenue jumped 72–75% as yield and operational performance improved sharply.SCEAGM 2025 & H1 2025 TU
- Scaling up carbon ceramic brake production to capture a growing £2bn market.SCEAGM 2024 Presentation
- Revenue up 58% but losses widen; full-year outlook cut sharply amid cash constraints.SCEH1 2024
- 81% revenue growth offset by operational setbacks and £19.6m loss; outlook remains uncertain.SCEH2 2023
- Revenue up 13%, but net loss widened to £22.3m amid operational and funding challenges.SCEH2 2024
- Customer support and strategic talks aim to resolve Surface Transforms' Q1 cash constraints.SCEQ1 2025 TU
Surface Transforms
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Surface Transforms PLC is a UK-based company that specializes in the development, manufacture, and sale of next-generation carbon-ceramic brake discs. With its own patented materials technology, the company focuses on producing these high-performance brake discs primarily for automotive and aircraft applications. Surface Transforms is known for its innovative approach, employing a team of PhD-qualified scientists and degree-qualified engineers who are dedicated to developing new processes for carbon-ceramic materials and creating new products for a range of applications. The company is headquartered in Liverpool, England, and its shares are listed on the London Stock Exchange.