BrainChip Holdings Ltd (ASX:BRN) Reports Quarterly Activities
BrainChip Holdings Ltd reports a US$20M cash balance and successful contract wins for neuromorphic AI technology.
Operational Achievements
BrainChip Holdings Ltd (ASX: BRN) reported a cash balance of US$20 million as of 31 December 2024. The December quarter highlighted the company’s ability to commercialise its neuromorphic AI technology through strategic contracts and partnerships. A notable achievement was the US$1.8 million contract awarded by the U.S. Air Force Research Laboratory for neuromorphic radar signalling processing. This project focuses on micro-Doppler signature analysis.
Additionally, BrainChip licensed its Akida 1.0 technology to Frontgrade Gaisler for integration into space-grade systems, signalling a significant opportunity for future growth in aerospace applications. The quarter ended with a US$100,000 contract with Bascom Hunter for the sale and support of AKD1500 chips, aimed at enhancing machine learning applications in defence.
Product Innovations
In October, BrainChip launched Akida™ Pico, a low-power co-processor designed for various applications, including wearables and IoT devices. This product is built on the Akida 2.0 platform and performs with less than one milliwatt of power consumption. Akida Pico aims to enhance device performance while ensuring energy efficiency.
Financial Overview
The company reported net operating cash outflows of US$4.1 million during the quarter, with total payments to suppliers and employees approximately in line with previous results. Cash inflow from customers remained steady at US$0.05 million.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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