Helium One Global (HE1) H2 2026 earnings summary

Executive summary

• FY26 advanced Galactica-Pegasus toward production and secured Tanzania’s first helium mining licence at southern Rukwa; first helium sales followed in July 2026.

• ITW-1 ESP testing delivered sixfold higher flow than the 2024 natural-flow test, with helium concentrations averaging 5.4% and peaking at 9.2%.

Financial highlights

• FY26 operating loss was $3.441m vs $5.571m in FY25; loss before tax was $3.376m vs $5.500m.

• Total comprehensive loss attributable to equity holders was $3.413m vs $4.857m; the reduction primarily reflected lower share-option expense.

• Cash at 30 June 2026 was $6.552m vs $3.153m; net assets were $67.920m vs $53.203m.

• Operating cash outflow was $114,476; investing cash outflow was $13.704m, mainly exploration and evaluation activity.

Outlook and guidance

• Priorities are to scale Galactica-Pegasus production, progress infill drilling and Pegasus expansion, and secure a strategic partner to fund southern Rukwa’s next phase.

• The operator planned to deepen three Galactica wells in Q4 2026 and drill nine more in 2027, subject to permits.

• The short-term helium offtake agreement was extended to 31 March 2027 while longer-term arrangements are pursued.