Iondrive (ION) H2 2025 earnings summary

Executive summary

• Achieved significant progress in commercialising proprietary urban mining technology, focusing on battery recycling and critical mineral recovery using Deep Eutectic Solvent (DES) processes.

• Expanded into E-waste and Mixed Hydroxide Precipitate (MHP) recovery, with strong pilot plant development and international partnerships.

• Completed two capital raisings totaling $8 million, strengthening the balance sheet and attracting institutional investors.

• Divested legacy South Korean exploration assets to focus on core technology, reducing annual costs by ~$600,000.

Financial highlights

• Net loss after tax of $4,619,688, an improvement from the prior year's $6,119,130 loss.

• Revenue and other income totaled $1,711,531, with R&D tax incentives and JV reimbursements contributing significantly.

• Cash and cash equivalents at year-end were $5,867,961, up from $2,759,282.

• No dividends declared for the year.

Outlook and guidance

• Focus remains on expanding commercial partnerships, delivering the pilot plant, and unlocking new applications for the DES platform.

• Pilot plant construction approved, with commissioning expected from December 2025 to early 2026, supported by a $3.9 million government grant.

• Anticipated 25% uplift in revenue from new graphite recovery project.