BrainChip (BRN) H1 2025 earnings summary

Executive summary

• Net loss after tax for H1 2025 was $9.36M, an improvement from $11.52M loss in H1 2024.

• Revenue surged 859% year-over-year to $1.02M, driven by new development services and product sales contracts.

• Operating expenses decreased 12% year-over-year to $10.28M, with notable reductions in R&D and selling & marketing costs.

• Focus remained on commercializing Akida neuromorphic technology and expanding strategic partnerships.

Financial highlights

• Gross profit for H1 2025 was $273.8K, up from $68.7K in H1 2024.

• R&D expenses fell 23% to $3.43M; selling & marketing expenses dropped 9% to $2.20M.

• General & administrative expenses rose 9% to $3.61M, mainly due to recruitment and legal costs.

• Share-based payment expense decreased 30% to $1.04M.

• Finance income increased to $593.6K, including $293.3K in interest and $300.4K in FX gains.

• Cash and cash equivalents at 30 June 2025 were $13.46M, down from $20.00M at 31 Dec 2024.

Outlook and guidance

• Continued focus on commercial strategy, product innovation, and expanding business pipeline.

• Board reaffirmed commitment to ASX listing after reviewing potential redomicile to the US.