Iondrive (ION) H2 2026 earnings summary

Executive summary

• Transitioned from technology development to commercialisation of the IONSolv™ metal extraction platform, targeting critical minerals recovery from e-waste, magnets, and solar panels.

• Achieved independent validation of rare earth recoveries, exceeding initial technical and economic assumptions.

• Entered the U.S. market with government support and strategic partnerships, and divested non-core South Korean exploration assets.

• Strengthened leadership with new CEO and board appointments to support commercial scale-up.

Financial highlights

• Net loss after tax of $7,019,907 for FY2026, compared to a $4,619,688 loss in FY2025.

• Revenue primarily from grants ($2.1M), R&D tax incentives ($1.1M), and interest income ($84.8K).

• Cash and cash equivalents at year-end: $6,968,972.

• Total assets: $9,634,589; total liabilities: $3,435,718; net assets: $6,198,871.

• No dividends declared for the year.

Outlook and guidance

• Focus on completing engineering definition, commissioning a pilot plant by year-end, and advancing commercial rollout in the U.S.

• Ongoing pursuit of U.S. federal grants and non-dilutive funding, with plans for modular plant deployment.

• Continued expansion of IONSolv™ platform to new feedstocks and geographies.