AnteoTech Slashes Losses 36%, Raises $3.5m to Fuel Expansion
AnteoTech Ltd reports a 36% reduction in half-year losses to $1.4 million amid strategic advances in battery and life sciences technologies, supported by a recent $3.5 million capital raise.
- 36% reduction in net loss to $1.403 million
- 85% revenue drop due to timing of Serum Institute sales, excluding which sales rose 6%
- Key technical milestones achieved in battery additive products
- New joint development agreements and expanded global customer evaluations
- Completed $3.5 million capital raise post-reporting period
Financial Performance and Revenue Dynamics
AnteoTech Ltd (ASX: ADO) has released its interim financial report for the half year ended 31 December 2025, revealing a significant 36% reduction in its net loss to $1.403 million compared to $2.195 million in the previous corresponding period. However, total revenue and other income declined 15% to $2.7 million, primarily due to the timing of sales to the Serum Institute of India under a five-year US$1.8 million supply agreement. When excluding these sales, revenue from other customers actually increased by 6%, signalling underlying growth in the company’s diversified customer base.
Strategic Progress in Advanced Battery Technologies
The company’s Advanced Battery Technologies (ABT) segment made notable strides, including a technical milestone with its Ultranode™ X product surpassing 1,000 charge/discharge cycles at 80% capacity retention. This achievement is critical for applications demanding high energy density and longevity, such as drones and defence batteries. AnteoTech also completed a 10-fold manufacturing scale-up of Ultranode™ 70 and initiated commercial form factor cell evaluations with Wyon AG. Additionally, the company executed a full Joint Development and Sales Agreement with US-based Black Diamond Structures to commercialise a combined battery additive product that demonstrated over 35% improvement in cycle life, underscoring the potential for enhanced battery performance.
Life Sciences Expansion and Product Innovation
In its Life Sciences division, AnteoTech advanced product development and customer engagement, notably progressing discussions with a major global life sciences company on a chemiluminescent immunoassay (CLIA) product incorporating AnteoBind™ NXT. Internal studies showed AnteoBind™ NXT can reduce antibody usage by up to six times compared to traditional chemistries, while improving test sensitivity and reducing processing time. The company also secured new sales in Japan and expanded its evaluation pipeline across Europe, the US, and Asia. Prototype ELISA plates activated with AnteoBind™ NXT were provided to the Serum Institute of India and other partners for evaluation, reflecting ongoing efforts to broaden commercial adoption.
Operational and Financial Management
AnteoTech implemented cost control measures including a significant reduction in salary and administration expenses following an organisational restructure aligned with its June 2025 Strategy. The company also enhanced its commercial capabilities by introducing structured sales processes and a client relationship management system, alongside hiring two new sales personnel to strengthen market engagement. The receipt of a $2.59 million R&D tax incentive refund during the period provided additional financial support. Post-reporting period, AnteoTech completed a $3.5 million capital raise to accelerate revenue growth and support strategic partnerships.
Leadership and Governance Updates
Leadership continuity was maintained with the formal appointment of Ms Merrill Gray as Managing Director and CEO in August 2025. However, the company experienced a CFO transition with Mr Andrew Cook resigning in January 2026 and Mr Scott Waddell stepping in as Interim CFO. Recruitment for a permanent CFO is underway, reflecting ongoing efforts to strengthen executive management as the company scales its operations.
Outlook and Market Positioning
Despite the material uncertainty noted around future funding and commercialisation success, the directors remain confident in the company’s ability to continue as a going concern. AnteoTech’s diversified product portfolio, expanding global partnerships, and recent capital injection position it well to capitalise on growing demand in both the battery materials and life sciences markets. The company’s focus on innovation, strategic collaborations, and market-led sales initiatives will be critical to converting its growing opportunity pipeline into sustainable revenue streams in the coming periods.
Bottom Line?
AnteoTech’s progress in technology and partnerships, backed by fresh capital, sets the stage for a pivotal year ahead amid ongoing market and funding challenges.
Questions in the middle?
- How will AnteoTech convert its expanded customer evaluations into consistent revenue?
- What impact will the recent capital raise have on accelerating commercial partnerships?
- How will leadership changes affect operational execution and strategic focus?
