Amaero Publishes September 2025 Quarterly Activities Report

Rhea-AI Summary

Amaero (OTCQB: AMROF) reported September Quarter (ending 30 Sep 2025) revenue of A$4.7m (A$4.1m powder; A$0.6m PM-HIP), a 445% increase versus Q1 FY2025, and finished-quarter cash of A$50.9m. Production rose sharply—atomization +240% QoQ to 27,000 kg—yet finished powder fell short of demand, leaving an unfilled order backlog of A$0.5m.

The company completed a A$50m placement, authorised a A$3m SPP, received a US$5.7m EXIM draw (EXIM commitment US$22.8m), hired key manufacturing and finance leaders, signed multi-year supplier agreements, and updated FY2026 revenue guidance to A$30–35m (≈40% 1H / 60% 2H).

Positive

• Revenue A$4.7m in Sep Quarter (+445% YoY)
• Atomization production +240% QoQ to 27,000 kg
• A$50m placement completed to fund growth initiatives
• FY2026 revenue guidance A$30–35m (40% 1H, 60% 2H)
• Cash and restricted cash A$50.9m at quarter end

Negative

• Cash used in operations A$9.9m during the Quarter
• Finished powder shortfall caused A$0.5m unfilled backlog
• Missed near-term target (short of A$5.5m Q1 guidance)

MCDONALD, Tenn., Oct. 23, 2025 (GLOBE NEWSWIRE) -- Amaero Ltd (ASX:3DA) (OTCQB: AMROF) (“Amaero” or the “Company”), a leading U.S. domestic producer of high-value C103, refractory alloy, and titanium powders for additive and advanced manufacturing of components utilized by the defense, space, and aviation industries, is pleased to provide an overview of its operations to accompany the Appendix 4C for the quarterly period ending 30 September 2025 (“Quarter”, “Reporting Period”).

Highlights

• Financial Performance
  • Amaero reported revenue for the September Quarter of A$4.7 million. Revenue included approximately A$4.1 million from powder sales and A$0.6 million from Powder Metallurgy Hot Isostatic Pressing (“PM-HIP”) manufacturing. This reflects a 445% increase from the Q1 FY2025 period.
  • Though production increased by approximately 240% from Q4 FY2025, the finished powder was insufficient to fill all Q1 FY2026 orders. The Company begins Q2 FY2026 with a backlog of unfilled Q1 orders, totalling A$0.5 million.
  • Cash used in operating activities was A$9.9 million, including A$4.7 million in inventory purchases. A significant portion of these inventory purchases represented buffer stock built to reduce exposure to potential trade disruptions and tariff policy uncertainty.
  • The Company ended the September Quarter with a cash and restricted cash balance of A$50.9 million.
  • After the Reporting Period, the Company received US$5.7 million on 3 October 2025 from draw on Export-Import Bank of the United States (“EXIM Bank”) equipment financing loan. The total EXIM Bank loan commitment equals US$22.8 million or US$20.3 million net of exposure fee. After the recent draw, the EXIM Bank loan balance equals US$13.3 million, net of exposure fee. The Company expects to draw the balance of the loan in FY2026.

• Scaling Manufacturing Production
  • In anticipation of scaling manufacturing, the Company engaged a consulting firm to evaluate the manufacturing processes and recommended improvements to scale production, to improve safety and to enhance quality controls.
  • The Company re-structured the operations team and added Mark Struss, VP – Manufacturing Operations, to manage manufacturing operations. Additional processing equipment has been ordered and will be commissioned in Q2 and Q3 FY2026.
  • Customer powder shipments increased from 4,900 kg in Q4 FY2025 to 12,410 in Q1 FY2026, a sequential increase of 153%.
  • Atomization increased from 8,000 kg in Q4 FY2025 to 27,000 kg in Q1 FY2026; an increase of approximately 240%. Production shifted from a single, 8-hour shift, 5 days per week on one atomizer to two, 10-hour shifts, 6 days per week on 2 atomizers. The increased production and processing was insufficient to meet the demand and to fill all orders.
    
• Chairman and CEO re-locates to Chattanooga, Tennessee
  
  • As the Company transitions to scaling production and to commercialization, Chairman and CEO, Hank Holland and his family re-located to Chattanooga, Tennessee during the Reporting Period.

• C103 Material Improvement Collaboration Completed with Castheon / ADDMAN
  • Since the initial qualification of C103 with Castheon / ADDMAN in September 2024, Amaero and ADDMAN have collaborated to further improve material properties. Joint testing has validated that Amaero’s C103 spherical powder meets ADDMAN’s performance specifications, achieving wrought-like material properties. Through continued development, both organizations are translating these advancements into mission-critical reliability that strengthens domestic supply chains. Per the Preferred Supplier Agreement, Amaero will be ADDMAN’s preferred supplier of C103 powder and the companies will continue collaboration to advance sovereign capabilities for advanced propulsion and thermal protection systems utilized in hypersonic weapon programs and in space and satellite systems.

• Velo3D Qualification Condition Satisfied
  • During the Reporting Period, Amaero confirmed that recent printing and testing of Amaero’s C103 and Ti64 (or Ti-6AI-4V) powder by NCAME has demonstrated that the powders conform with industry accepted standards and based on Auburn’s testing and certification, Amaero has satisfied Velo3D’s qualification condition.

• Financial and Commercial Update
  • During the Quarter, Amaero provided a financial update with Q1 FY2026 revenue estimated to equal approximately A$5.5 million.
  • On the commercial front, Amaero continued to advance numerous strategic commercial opportunities, including those with a U.S. Department of Defense Prime Contractor and The Boeing Company.
    
• A$50M Placement to Accelerate Growth Initiatives
  
  • During the Reporting Period, Amaero completed a Placement to raise gross proceeds of A$50 million. The Company authorised up to A$3 million to be offered to eligible Amaero shareholders via a Share Purchase Plan (“SPP”) with the opportunity to acquire Shares at the same price per Share as those investors who participated in the Placement. The SPP received subscriptions equal to A$470,000.
  • Proceeds from the Placement and the SPP will be used to accelerate growth and unit cost reduction initiatives that had been planned for FY2027 and beyond.
    
• Titomic Selects Amaero as Sole Supplier of Powders
  
  • During the Reporting Period, Amaero announced that it had entered into a five-year exclusive supplier and development agreement with Titomic Limited (ASX:TTT) (“Titomic”) for refractory and titanium alloy spherical powders.
  • The strategic collaboration leverages Amaero’s advanced and scalable powder production capabilities with Titomic’s focus on proprietary cold spray manufacturing of near-net-shape parts for mission-critical applications.
    
• Amaero Signs Exclusive, Long-Term Supplier Agreement with Knust-Godwin
  
  • During the Reporting Period, Amaero signed a 5-year exclusive supplier agreement for titanium alloy powders and strategic development agreement with Knust-Godwin. Kunst-Godwin is an integrated additive manufacturer and precision machining firm that operates from 240,000 square foot facility near Houston, Texas.

• Updated Financial Guidance
  • During the Quarter, Amaero announced updated financial guidance for FY2026 including that Amaero estimates revenue for FY2026 to equal A$30 million to A$35 million and revenue contributions to be approximately 40% in 1H FY2026 and approximately 60% in 2H FY2026.

• Key Leadership Hires
  • During the Reporting Period, Brett Paduch commenced his appointment to the role of Chief Financial Officer (“CFO”). Mr. Paduch has strong experience in FP&A, strategic planning, capital markets, and M&A transactions.
  • Mark Struss assumed the role of VP – Manufacturing Operations. Mr. Struss brings 25 years of manufacturing and operations experience across aerospace, automotive and industrial manufacturing sectors.
  • The Company continues to strengthen its technical team with the addition of Dr. Jonathan Pegues as VP – Technology Development. Dr. Pegues was most recently at Auburn University’s National Center for Additive Manufacturing Excellence (“Auburn NCAME”) and prior was Program Manager for Refractories at Castheon. Dr. Arun Chattopadhyay will have expanded responsibilities as VP – Applied Research and Process Development.
  • Jay Chandran’s responsibilities transitioned from COO to Director of Special Projects.
    
• OTC Listing Upgrade
  
  • From 1 September 2025, Amaero commenced trading on the OTCQX Best Market under the ticker symbol “AMROF”.
    
    

Hank J. Holland, Amaero’s Chairman and CEO, commented, “The September quarter marked a major inflection point for Amaero as revenues increased by approximately 455% over the same period a year ago and production of finished powder increased by approximately 240% over the prior quarter. Though revenue growth was very strong, we were short of the A$5.5 million guidance due to unfilled orders resulting from manufacturing shortfall. We begin the current quarter with a backlog of unfilled Q1 FY2026 orders of approximately A$0.5 million. In anticipation of scaling production by 500%-600% year over year, I have re-located with my family to Chattanooga, we have added seasoned manufacturing management, re-structured the operations team and we have ordered additional powder processing equipment that will be commissioned in Q2 and Q3 FY2026.

“The development of First Article parts for a defense prime contractor and continued progress with Boeing reflects growing industry confidence in our PM-HIP capabilities as a viable substitute for large castings and forgings. After 18 months of commercial engagement with the maritime industrial base, we expect to receive additional contracts in Q2 or Q3 FY2026.

“We remain focused on pursuing long-term, strategic partnerships with industry leading businesses that bring capabilities and/or vertical market penetration that’s complementary to Amaero’s existing partnerships. We are particularly pleased to complete the 12-month C103 material improvement and testing initiatives with Castheon / ADDMAN, to satisfy Velo3D’s qualification condition — unlocking initial purchase orders for C103 and Ti64 powders — while also formalising our five-year exclusive supplier agreement with Titomic, positioning Amaero as a key enabler in the adoption of cold spray technologies for mission-critical defense and aerospace applications.

“We have maintained a disciplined allocation of capital coupled with a commitment to lean-in with bold capital investment initiatives that are focused on addressing critical vulnerabilities in the U.S. domestic supply chain and on establishing modern, resilient, scalable and cost advantaged sovereign manufacturing capabilities. During the Reporting Period, Amaero completed a A$50 million Placement that was strongly supported by institutional investors. The proceeds will be used to pull forward growth and cost reduction initiatives that had been planned for FY2027 and beyond — building on our largest U.S. domestic production capacity for refractory and titanium spherical powders and advancing Argon recycling capabilities that further improve our competitive unit cost position.

“We remain resolutely focused on execution, innovation, and unlocking long-term value for shareholders.”

Related Party Payments

Pursuant to ASX Listing Rule 4.7C.3 and as disclosed in Item 6.1 of the attached Appendix 4C, during the Quarter A$517,354 was paid in respect of Directors’ fees, remuneration of Executive Directors, and consulting fees to entities associated with Directors.

Events Subsequent to Balance Date

On 3 October 2025, the Company received US$5.7 million of proceeds from EXIM Bank equipment financing loan.

Investor Briefing Amaero Chairman and CEO, Hank J. Holland will host an investor briefing on Friday 24 October 2025 at 11:00 AEDT. The investor briefing will be recorded and posted to Amaero’s website. To pre-register for the briefing, please use the link below:

https://janemorganmanagement-au.zoom.us/webinar/register/WN_TDMzQBK-STuXA6P8Y0NUbA

This announcement has been authorised for release by the Board of Directors.

For further information, please contact:
Amaero Ltd
Hank J. Holland
Chairman and CEO
hank.holland@amaeroinc.com

Media & Investor Enquiries in Australia
Jane Morgan
Director
jm@janemorganmanagement.com.au

Media & Investor Enquiries in United States
Shannon Devine
MZ Group
amaero@mzgroup.us

About Amaero
Amaero Ltd (ASX:3DA, OTC:AMROF) is an ASX-listed company with manufacturing and corporate headquarters located in Tennessee, U.S. Amaero is a leading U.S. domestic producer of high-value refractory and titanium alloy powders for additive and advanced manufacturing of components utilised by the defense, space, and aviation industries. The technical and manufacturing team brings decades of experience and know-how with pioneering work in gas atomization of refractory and titanium alloys. The Company has commissioned advanced gas atomization technology with an industry leading yield of AM powder. The Company is also a leader in PM-HIP (Powder Metallurgy Hot Isostatic Pressing) manufacturing of large, near-net-shape powder parts with forged-equivalent material properties and microstructure for a variety of alloys. PM-HIP manufacturing is helping alleviate the strained domestic supply chain for large scale castings and forgings.

FAQ

What did Amaero report for revenue in the September Quarter 2025 (AMROF)?

Amaero reported A$4.7m revenue for the quarter ending 30 Sep 2025 (A$4.1m powder; A$0.6m PM-HIP).

How did Amaero's production change in Q1 FY2026 and how much powder was produced (AMROF)?

Atomization rose to 27,000 kg in Q1 FY2026, a ~240% increase versus Q4 FY2025; finished shipments were 12,410 kg.

What is Amaero's FY2026 revenue guidance announced Oct 2025 (AMROF)?

Amaero updated FY2026 revenue guidance to A$30–35m, with roughly 40% expected in 1H and 60% in 2H.

How much cash did Amaero have at 30 September 2025 and did it draw EXIM financing (AMROF)?

Amaero ended the quarter with A$50.9m cash and received a US$5.7m EXIM draw on 3 Oct 2025 (EXIM commitment US$22.8m).

What capital raise did Amaero complete in the September Quarter 2025 (AMROF)?

Amaero completed a A$50m placement and authorised a A$3m SPP; SPP subscriptions reached A$470,000.

Does Amaero have supply agreements or partnerships announced in Oct 2025 (AMROF)?

Yes; Amaero signed five-year exclusive supplier and development agreements with Titomic and a five-year exclusive supplier agreement with Knust-Godwin.

Why was there an order backlog at the start of Q2 FY2026 for Amaero (AMROF)?

A manufacturing shortfall left finished powder insufficient to fill all Q1 orders, creating an unfilled backlog of A$0.5m.