Weebit Nano (WBT) Q3 2025 earnings summary

Executive summary

• Achieved AEC-Q100 qualification, confirming high reliability and robustness of ReRAM NVM at high temperatures and endurance cycles.

• Progressed integration of ReRAM with onsemi's Treo platform and produced fully functional wafers at DB HiTek, targeting 2025 qualification.

• Demonstrated ultra-low-power edge AI applications using ReRAM in collaboration with EMAS/EMASS, highlighting ReRAM's fit for AI edge inference and industry shift from MRAM.

• Appointed Lilach Zinger as VP Customer Success to support scaling for multiple customers and parallel fab projects.

• Defined 2025 as a year of significant growth, preparing for increased customer activity and expansion.

Financial highlights

• Received A$2.7 million in customer receipts this quarter, reflecting milestone-based payments from licensing and NRE agreements.

• Cash at bank was A$93.7 million as of 31 March 2025, supporting ongoing R&D and business development.

• Net cash used in operating activities was A$3.06 million for the quarter and A$16.8 million for the nine months.

• R&D expenses for the quarter were A$0.67 million; payments to related parties totaled A$485,000.

• No new borrowings; cash position supports ongoing R&D and commercial activities.

Outlook and guidance

• Expects continued growth in customer payments as more milestones are achieved and new customers onboarded.

• Aims to sign agreements with at least three fabs and three product companies this year, with a goal to overachieve.

• Anticipates signing additional agreements with foundries, IDMs, and product companies in 2025.

• Qualification with DB HiTek projected for completion in 2025.

• Focused on expanding fab partnerships and embedding ReRAM in commercial products, with first products expected before the end of next year.