Weebit Nano (WBT) Investor update summary

Market and Technology Update

• Non-volatile memory market is expanding, with ReRAM expected to capture 50% market share by 2031 due to lower manufacturing costs and a projected 69% CAGR.

• ReRAM technology is fully qualified to JEDEC & AEC-Q100 standards, outperforming embedded flash in cost, speed, endurance, and energy efficiency, and is scalable to advanced nodes (<28nm).

• Three product customers have reached tape-out, with one already demonstrating a functional prototype, marking significant progress toward mass production.

• Mass production is targeted for 2027, with one customer aiming for mass production within a year.

• The semiconductor industry is experiencing unprecedented demand, especially driven by AI, causing capacity constraints and delays in new technology adoption.

Operational and Financial Status

• Cash reserves stand at AUD 167 million, sufficient for several years of operations and supporting long-term growth.

• Quarterly customer receipts reached A$3.4 million in Q2 FY26, and FY26 revenue guidance has been upgraded to above AUD 13.5 million.

• Revenue recognition is prioritized over cash flow due to milestone-based cash inflows.

• Staff count has grown to over 70, with a focus on maintaining a positive work environment and high retention.

• No additional capital raise is anticipated in the next 1.5 years given current cash and burn rate.

R&D and Product Development

• R&D efforts have reduced ReRAM access time below 10 ns and increased endurance to 100,000 cycles, targeting 1 million cycles.

• Qualified for high-temperature operation up to 175°C and automotive-grade standards using a 1T1R architecture.

• Continuous R&D to maintain a leadership gap in ReRAM performance, endurance, and automotive capability.

• Focused on building reusable prototypes and infrastructure to accelerate future customer onboarding.

• Selector technology development continues but is deprioritized in favor of AI-related advancements.