BrainChip (BRN) H2 2025 earnings summary

Executive summary

• Achieved significant progress in neuromorphic technology, expanding partnerships and commercial validation across aerospace, defense, medical, and industrial IoT sectors.

• Transitioned AKD1500 chip from reference design to volume production, with strategic supply agreements and new product launches.

• Strengthened capital position through equity raises and expanded LDA Capital facility, supporting ongoing R&D and commercial scaling.

Financial highlights

• Revenue rose 374% year-over-year to $1.89M (2024: $0.40M), driven by product and license sales.

• Net loss after tax narrowed to $20.47M from $24.43M in 2024.

• Operating expenses decreased 8% to $21.97M, with R&D up 18% and S&M down 3%.

• Cash and cash equivalents at year-end were $31.7M (2024: $20.0M).

• Gross margin improved to $265K from a loss of $135K in 2024.

Outlook and guidance

• Focus on further development of Akida Neuromorphic SoC and commercial scaling of AKD1500 and AKD2500.

• Anticipates production silicon for AKD1500 in Q3 2026 and prototype AKD2500 silicon in Q3 2026.

• Additional funding earmarked for Akida 2, GenAI, and module-level product expansions.