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BrainChip Holdings - Quarterly Update

BrainChip Holdings Ltd (ASX: BRN), a leading provider of ultra-low power, high performance edge AI technology, provides the following update for the quarter ending 31 December 2019 to accompany the Company’s Appendix 4C lodged with the ASX and supplement the Year-End Update provided on 3 January 2020.

The Company ended the December quarter with US$7.6M in cash. Cash outflows for the December quarter were US$2.54M. Total cash inflows for the December quarter were US$359,000 including research and development rebates, receipts from customers and interest income. For the March 2020 quarter the Company forecasts total cash outflows of US$3.97M. Total cash outflows include non-recurring expenses of US$1.5M associated with the Akida device development previously forecasted in the December 2019 quarter.

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