Amaero International (ASX:3DA) has reported a 143% increase in revenue to $1.66m for the half-year ended 31 December 2024, marking its first period of material commercial sales. However, losses deepened by 36% to $11.1m as the company continued investing in growth initiatives.
The revenue increase was driven by powder sales ($1m) and Powder Metallurgy Hot Isostatic Pressing (PM-HIP) manufacturing ($0.7m). Despite this, the company remains unprofitable as it scales production and expands its operations in the United States.
No dividend was declared.
Expansion and funding initiatives
Amaero raised $25m in a two-tranche institutional placement during the reporting period, issuing shares at $0.35 each. A further $22m was raised in February 2025, supported by existing investors and a new US-based institutional investor.
In addition, the company secured a US$23.5m (A$37.8m) loan from the Export-Import Bank of the United States, with the first drawdown expected in late 2025. The funds will support capital investment, including the purchase of additional atomisation equipment.
Strategic agreements and milestones
Amaero finalised a five-year preferred supplier agreement with ADDMAN Group for its C103 AM powder, with 2 tonnes expected to ship in 2025. The company also signed a three-year supply agreement with Perryman for US-melt and forged titanium alloy bar feedstock, setting a minimum annual order threshold of 45 metric tonnes in 2025 and 100 metric tonnes in 2026 and 2027.
The company received AS9100D accreditation in December 2024, confirming its aerospace-quality manufacturing standards.
Outlook and challenges
Amaero aims to achieve EBITDA breakeven in FY2026, underpinned by growing powder and PM-HIP sales. However, its ability to scale successfully will depend on securing further commercial contracts and managing operating costs.
The company ended the period with $19.5m in cash and reported net assets of $47.7m.
