Iondrive (ION) Q3 2025 earnings summary

Executive summary

• Heightened global trade tensions are increasing demand for secure, sustainable battery recycling in Europe, aligning with the company's go-to-market strategy.

• Independent economic modelling validated the DES process, showing strong investment metrics and a 36% lower CAPEX than conventional European hydromet plants.

• Pilot plant development is progressing, with a financial investment decision targeted for July and commissioning expected by late 2025.

• The company is expanding DES process applications to new feedstocks, including US-sourced MHP and electronic waste.

Financial highlights

• Completed a $6 million placement, with $4 million finalized in February; cash on hand at 31 March 2025 was $7.05 million.

• Net cash inflows for the quarter were $2.98 million, with $817,000 in operating and investing outflows and $3.8 million in financing inflows.

• Related party payments for the quarter totaled $66,000, mainly for directors' fees.

Outlook and guidance

• Key milestones for 2025 include pilot plant commissioning, validation of continuous processing, and expansion into new feedstocks.

• Focus areas include securing non-dilutive funding, formalizing value chain partnerships, and ongoing technology optimization.