CleanSpace Reports $19.8M Revenue and Narrows Loss to $478K in FY25

Strong Revenue Growth and Margin Expansion

CleanSpace Holdings Limited has delivered a robust financial performance for the year ended 30 June 2025, with revenues rising 26% to nearly $19.8 million. This marks the company’s third consecutive year of solid top-line growth, driven by increased demand for its advanced respiratory protection products across Europe, Asia Pacific, and North America.

Gross margins improved to 75%, up 3 percentage points from the prior year, reflecting operational efficiencies and disciplined cost management. The company’s EBITDA loss narrowed dramatically to $0.4 million from $3.9 million the previous year, with positive cash flow generated in the second half of FY25, signaling a path toward sustained profitability.

Global Market Expansion and Product Innovation

CleanSpace’s growth was underpinned by strategic investments in sales teams and an expanded network of distribution partners, which grew from 204 to 236 globally. Notably, North America saw a 45% revenue increase, supported by a new regional sales leadership and targeted industrial market strategy. Europe and APAC also contributed strong growth, with 18% and 36% increases respectively.

The launch of the CleanSpace WORK powered air-purifying respirator (PAPR) in key markets, including the U.S., has been well received, highlighting the company’s commitment to innovation. This product, designed for high-dust industrial environments, complements CleanSpace’s patented AirSensit® technology, which continues to set industry benchmarks for comfort and protection.

Financial Resilience and Operational Discipline

CleanSpace strengthened its balance sheet with cash and term deposits totaling $10.5 million at year-end, up from $9.8 million the prior year. Inventory levels were managed down by 21%, freeing working capital and enhancing liquidity. Operating expenses remained largely flat despite revenue growth, reflecting ongoing efficiency initiatives.

The company also maintained a strong focus on research and development, investing approximately 10% of revenue in R&D activities. This commitment supports a robust product pipeline and digital enhancements such as the CleanSpace Smart App, which offers real-time monitoring capabilities for enterprise customers.

Leadership Transition and Strategic Outlook

Leadership changes during FY25 included the appointment of Gabrielle O’Carroll as CEO from January 2025, succeeding Graham McLean who transitioned to Chair. Both executives expressed confidence in CleanSpace’s ability to capitalize on tightening regulatory standards and rising awareness of respiratory hazards globally.

Looking ahead, CleanSpace plans to deepen its presence in industrial sectors such as mining, construction, and welding, while continuing to expand its distribution footprint and invest in sales and R&D. The company remains focused on delivering shareholder value through innovation, operational excellence, and customer-centric growth.

Risk Management and Market Challenges

Despite positive momentum, CleanSpace acknowledges risks including market volatility, talent retention, product liability, and regulatory compliance. The Board has implemented comprehensive risk management frameworks to mitigate these challenges and ensure business continuity.

Overall, CleanSpace’s FY25 results demonstrate a company gaining traction in a growing global market for powered respiratory protection, with a clear strategy and financial discipline setting the stage for future success.