Hazer Group (HZR) Q1 2026 TU earnings summary

Executive summary

• Reported FY2025 revenue of $8.5 million, up 125% year-over-year, with maiden operating revenues from FortisBC and engineering services, and a strengthened funding position of ~$20 million as of September 2025.

• Formed a strategic alliance with KBR to accelerate technology scale-up, licensing, and commercialization, with a global project pipeline of 45+ leads and ~1.2 Mtpa hydrogen capacity.

• Advanced graphite strategy with multiple deals, IP filings, and partnerships, including with Mitsui, First Graphene, and Veolia, targeting high-value and battery-grade applications amid tightening global supply.

• UK EnergyPathways project designated as nationally significant, enabling fast-track approvals and feasibility studies for hydrogen, ammonia, and graphite production.

• Strengthened global IP portfolio with 72-75 patents across 32 jurisdictions and new filings for battery-grade graphite purification.

Financial highlights

• FY2025 revenue reached $8.5 million, a 125% increase year-over-year, the highest in company history.

• Operating expenses reduced by 17% year-over-year, supporting a strong funding position of nearly $20 million.

• Funding position at $19.7 million as of September 2025, including $11.6 million cash, $4.6 million R&D tax refund, $2.4 million grant funding, and $1.1 million from a capital raise.

• Share Purchase Plan raised A$2.6 million, with no debt or financing facilities at quarter-end.

• Net operating cash outflows of A$3.3 million for the quarter, reflecting a low operating cost base.

Outlook and guidance

• Focused on progressing technology scale-up, commercialisation, and converting pipeline projects into paid studies and licenses, with multiple license agreements targeted in the next five years.

• Anticipates completion of the process design package with KBR in early 2026, enabling further commercialization.

• First commercial project in Canada advancing, with FID-ready projects in Canada, Japan, and the UK expected in 2026.

• Strategic priorities include unlocking graphite value, expanding into new markets, and securing additional strategic partners.

• Expects near-term milestones in project site selection, offtake agreements, and government support, especially in Canada and the UK.