BrainChip Holdings Ltd (ASX:BRN) Releases Q1 2025 Activities Report
Commercial Partnerships
The Swedish National Space Agency awarded Frontgrade Gaisler a contract to commercialize BrainChip’s Akida™ technology for space-grade systems. Additionally, BrainChip secured a US$1.8M contract from the U.S. Air Force Research Laboratory, with Raytheon Company as a major sub-contractor. Collaborations with Onsor Technologies and Information Systems Laboratories, Inc. were also announced to advance neuromorphic computing applications.
Corporate Actions
BrainChip amended its Put Option Agreement with LDA Capital, issuing 40 million shares and committing to raise at least AU$20 million by June 2026. The company is evaluating the possibility of redomiciling to the United States, which may result in delisting from the ASX.
Financial Performance
The company ended the quarter with US$16.98M in cash, a decrease from the previous quarter. Net operating cash outflows remained steady at US$4.1M. Cash inflows from customers increased to US$0.14M, while payments to suppliers and employees rose to US$4.9M.
Executive Comments
CEO Tony Dawe stated, “Exiting the prior quarter with milestone wins, the March quarter was important to advance critical engagements in anticipation of successful closes later this year. While closing more engagements at a consistent rate has taken longer than I expected or accept, I am confident we will close substantially more bookings in 2025 than we did in 2024.”
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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