Helix Exploration (HEX) H2 2025 earnings summary

Executive summary

• Transitioned from explorer to first helium producer in Montana, with production commencing post-period end at the Rudyard Project.

• Achieved significant technical milestones, including successful drilling and testing of multiple wells confirming high helium concentrations and reservoir quality.

• Raised £4.5 million in June 2025 and £2.2 million in March 2026 to fund production and working capital.

• Listed on the OTCQB in the US to broaden market presence and investor base.

Financial highlights

• Loss for the year ended 30 September 2025 was £1,863,767, improved from £2,165,567 in 2024.

• Net assets at year end were £15,838,732, up from £8,684,342 in 2024.

• Cash and cash equivalents at year end were £2,734,000, down from £4,960,000 in 2024.

• Exploration assets capitalised as intangibles increased to £9,819,000 from £4,087,000 year-over-year.

• No revenue was generated during the year; transition to revenue generation expected in 2026.

Outlook and guidance

• Production underway post-period end, with offtake negotiations ongoing to underpin future revenues.

• Strategic focus on scaling production, operational reliability, and near-term cash flow.

• Evaluating hydrogen potential within acreage as a long-term opportunity.

• Expectation of constructive pricing and offtake environment due to global helium supply disruptions.