Iondrive (ION) H1 2025 earnings summary

Executive summary

• Report covers the six months ended 31 December 2024, highlighting a strategic shift to battery recycling technology and away from exploration activities.

• Completed a Pre-Feasibility Study (PFS) for Deep Eutectic Solvent (DES) battery recycling, confirming scalability and economic viability.

• Progressed to pilot plant design, with commercialisation targeted for 2025.

• Expanded global partnerships and established a European subsidiary to support market entry.

Financial highlights

• Net loss after tax for the half year was $1,729,554, a significant improvement from a $4,571,733 loss in the prior year period.

• Revenue included $482,125 from R&D tax offset and $335,865 in other income, mainly from KoBold JV reimbursement.

• Cash and cash equivalents increased to $4,070,697 as at 31 December 2024, up from $2,759,282 at 30 June 2024.

• Share capital raised through placements totaled over $3.2 million during the period, with an additional $4 million approved post-period.

Outlook and guidance

• Focused on commercialising DES battery recycling technology, with pilot plant completion expected in 2025.

• Divestment of South Korean exploration business underway, enabling full focus on battery technology.

• Strong financial position with additional capital raising to support ongoing R&D and market expansion.