IperionX (IPX) H1 2026 earnings summary

Executive summary

• Transitioned to commercial production of titanium metal products in the U.S. using patented, low-cost, low-carbon technologies.

• Focused on operational excellence, advanced manufacturing, and major capacity expansion to 1,400 tpa by mid-2027.

• Secured significant U.S. government funding and contracts to re-shore the titanium supply chain and support defense applications.

• Developing the Titan Project in Tennessee for domestic titanium and rare earth mineral supply.

• Targeting global leadership in high-performance titanium components by 2030, aiming for +10,000 tpa capacity.

Financial highlights

• Net loss after tax for the six months ended December 31, 2025: US$34.8 million (2024: US$16.2 million), driven by increased R&D, exploration, and administrative expenses.

• Basic and diluted loss per share: US$0.10 (2024: US$0.06).

• Cash reserves at December 31, 2025: US$65.8 million (June 30, 2025: US$54.8 million).

• Net assets at December 31, 2025: US$108.2 million (June 30, 2025: US$92.4 million).

• Raised A$70 million (approx. US$46 million) via share placement in July and October 2025 to fund expansion.

Outlook and guidance

• Commissioning of expanded Virginia production facility (1,400 tpa) targeted for mid-2027.

• Definitive Feasibility Study for Titan Project expected completion in H1 2026.

• Aiming for global leadership in advanced titanium manufacturing with +10,000 tpa by 2030.

• Ongoing U.S. government support and funding for further expansion and supply chain security.