Archer Materials (ASX:AXE) Reports Debt-Free Q2 FY25 Activities and Financials
Key Highlights
Archer Materials Limited (ASX: AXE) has reported significant advancements in its Q2 FY25 Activities Report for the quarter ended 31 December 2024. The company launched its TMR sensor project, aimed at leveraging its quantum expertise to create bespoke sensors for industrial applications. This initiative may potentially expedite revenue opportunities in line with ongoing quantum developments.
The company successfully miniaturised its Biochip gFET design by 97%, enhancing cost efficiency and foundry readiness. Progress was also noted in the detection accuracy of chronic kidney disease testing, moving closer to feasibility stages. The team achieved notable advancements in controlling the 12CQ quantum project, including the demonstration of the “Coulomb Blockade” phenomenon at room temperature.
Financial Position
Archer Materials reported a robust cash position of $16.8 million, without any debt. This financial strength was supported by a cash rebate of $2.1 million from the Australian Government’s Research and Development Tax Incentive program. The latest cash flow report reflects a positive net cash increase during the quarter, reinforcing the company’s ability to sustain its operations and development activities.
Executive Comments
Greg English, Executive Chairman of Archer, noted the company is dedicated to advancing the Biochip and progressing the 12CQ quantum project, while also entering the TMR sensor technology market. He stated, “Leveraging Archer’s expertise in quantum mechanics, the Company will develop specialised TMR sensors for customers, which is expected to open a new part of the market for industrial applications and, potentially, an earlier revenue stream for Archer.” English highlighted the improvements made in Biochip operations, asserting that these steps bring them closer to the at-home testing for chronic kidney disease.
Looking Ahead
With a solid cash runway and a talented team, Archer Materials is positioned to move its innovative technologies toward market deployment. The company aims to continue optimising the performance of its products while engaging prospective customers for its TMR sensors.
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