Helium One Global (HE1) H1 2026 earnings summary

Executive summary

• Awarded a 480km² mining licence for the southern Rukwa Helium Project, the first of its kind in Tanzania, enabling transition from exploration to development planning.

• Achieved first gas at the Galactica Project in Colorado, with six wells now tied into the Pinon Canyon facility and initial helium sales commenced.

• Raised net proceeds of approximately £8.1 million to advance projects in Tanzania and the US.

• Strengthened leadership with new executive and non-executive appointments.

Financial highlights

• Reported an operating loss of $1.72 million for the six months ended 31 December 2025, compared to $1.97 million loss in the same period last year.

• Loss for the period was $1.67 million, down from $1.93 million year-over-year.

• Cash and cash equivalents stood at $5.1 million as of 31 December 2025, compared to $10.0 million at 31 December 2024.

• Total assets increased to $66.8 million from $55.0 million year-over-year, driven by capitalised exploration and plant investments.

• Net assets rose to $65.5 million from $54.6 million at 31 December 2024.

Outlook and guidance

• Strategic farmout process to commence for the southern Rukwa Helium Project to secure an industry partner.

• Galactica Project in the US to ramp up with additional wells and CO2 liquefaction on track for H1 2026.

• Infill wells at Galactica expected to provide further revenue opportunities.

• Strong market tailwinds anticipated for long-term helium and CO2 offtake agreements.