4DS Memory (4DS) Q4 2025 TU earnings summary

Executive summary

• Initial analysis of the Sixth Platform Lot showed process modifications did not yield expected electrical results; root cause analysis is underway to identify issues in the 20nm lot.

• Meetings held with imec and Infineon to discuss findings; a meeting with HGST is being scheduled to discuss renewal of the Joint Development Agreement.

• Presented technology updates at the Pitt Street Research Semiconductor Conference 2025.

Financial highlights

• Cash at 30 June 2025 was $10.2 million, up from $9.1 million at 31 March 2025.

• Net cash used in operating activities was $1.1 million for the June quarter, down from $3.5 million in the March quarter.

• Received $2 million from the exercise of options during the quarter.

• Aggregate payments to related parties totaled $145k for the quarter, including executive and director remuneration.

Outlook and guidance

• Pending completion of root cause analysis on the Sixth Platform Lot, strategic options will be discussed with partners.

• Estimated quarters of funding available is 9.25, based on current cash and burn rate.