Alpha HPA (A4N) H2 2026 earnings summary

Executive summary

• FY2026 marked a transformational year with rapid expansion in customer demand, especially from the semiconductor, battery, and advanced technology sectors.

• Stage One operated at full capacity, while Stage Two construction advanced on schedule, with over 607,000 safe construction hours and major procurement milestones achieved.

• $225 million capital was raised, including a $75 million cornerstone investment, strengthening liquidity for Stage Two and future growth.

• Customer demand now exceeds planned Stage Two capacity, with LOIs surpassing 12,000 tpa by year-end.

Financial highlights

• Revenue increased 135.3% year-over-year to $747,150.

• Net loss after tax rose 31% year-over-year to $42,656,602.

• Net tangible asset backing per share increased to 0.28 cents from 0.19 cents.

• No dividends declared or paid for FY2026.

• Cash and cash equivalents at year-end were $113.3 million, with total assets of $514.9 million.

Outlook and guidance

• Entering FY2027 with strong commercial momentum, robust customer demand, and advanced progress toward Stage Two commissioning.

• Ongoing concept studies for expansion beyond the HPA First Facility, driven by demand forecasts exceeding 50,000 tpa by 2030.

• Focus remains on disciplined execution, prudent capital management, and sustainable long-term value creation.