BrainChip (BRN) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 30 June 2026 rose 19% year-over-year to $1.22 million, driven by high-margin license sales and increased product sales, though development services revenue declined.

• Net loss after tax widened to $12.0 million from $9.4 million in the prior year, reflecting higher operating expenses related to R&D, marketing, and administration.

• The company achieved a key milestone with the first production batch of AKD1500 neuromorphic processors, marking a shift to commercial-scale manufacturing.

• Strategic licensing agreements and ecosystem partnerships expanded, supporting recurring revenue and broader market adoption.

Financial highlights

• Revenue: $1,222,745 (up 19% year-over-year); gross profit: $958,626 (up from $273,752).

• Operating loss: $12,688,514 (vs. $10,009,539 prior year); net loss: $12,015,897 (vs. $9,360,251).

• Loss per share: $0.51 (basic and diluted) vs. $0.45 prior year.

• Cash and cash equivalents: $20.3 million at 30 June 2026 (down from $31.7 million at 31 December 2025).

• Net tangible assets per share: $0.85 (vs. $0.71 prior year).

Outlook and guidance

• Commercialisation of AKD1500 and development of AKD2500 expected to drive future growth.

• Focus remains on expanding licensing, product sales, and ecosystem partnerships to accelerate adoption.

• Generative AI program and new reference platforms to support broader market opportunities.