6K Additive (6KA) H1 2026 earnings summary

Executive summary

• Achieved record half-year revenue of $13.3 million, up 73% year-over-year, driven by strong demand in Powder and Alloy segments and successful customer adoption in defense, aerospace, medical, and industrial markets.

• Expansion of Burgettstown campus underway, targeting a capacity increase from 1,600 to over 6,000 metric tons annually, fully funded with government support.

• Over 100 customers served, with more than 90% repeat order activity and a growing backlog nearing $12 million, up 23% from the prior quarter.

• Net loss improved to $6.8 million from $11.6 million year-over-year, reflecting operational efficiencies and lower interest expense.

• Cash and cash equivalents stood at $22.1 million as of June 2026, with increased investment in working capital to support higher sales volumes.

Financial highlights

• Revenue rose to $13.3 million in 1H26 from $7.7 million in 1H25, a 73% increase year-over-year.

• Gross margin improved to near breakeven at -1% in H1, up from -19% in the prior year, reflecting lower feedstock costs and operational improvements.

• Net loss for H1 decreased 41% year-over-year to $6.8 million, driven by gross margin improvements and absence of prior debt interest.

• Operating expenses rose to $7.1 million, up $2 million year-over-year, but declined as a percentage of sales.

• OPEX as a percentage of revenue improved to 54% from 67% in 1H25.

Outlook and guidance

• Entering 2H26 with record quarterly revenue and an annualized run-rate of ~$28 million.

• Expansion project on track, with initial production from new capacity targeted by end of 2026.

• Capacity expansion expected to drive a step change in performance in 2027, with backlog building to match new capacity.

• No need for additional capital raises; current cash and government funding sufficient to reach profitability.

• Continued focus on customer qualification and domestic supply chain development for critical materials.