6K Additive Posts Record US$7.1M Quarterly Revenue as Expansion Accelerates

Record Revenue Driven by Powder and Alloy Growth

6K Additive (ASX:6KA) delivered its strongest quarter yet, posting record revenue of US$7.1 million for Q2 2026, a 63% increase over the same quarter last year and a 14% rise from Q1 2026. This lifted the company’s annualised revenue run rate to approximately US$28 million, up from US$25 million in the prior quarter, underscoring accelerating demand for its advanced metal powders.

The growth was broad-based. The Powder segment led with US$5.0 million in revenue, up 25% quarter-on-quarter and 63% year-on-year, powered by surging demand for titanium, nickel, tungsten, niobium, and tantalum alloys. Notably, titanium powder sales nearly tripled year-on-year, while refractory powders jumped nearly 500% quarter-on-quarter as customer programs matured. The Alloy segment also expanded robustly, generating US$2.1 million, a 62% lift from Q2 2025, supported by strong orders from North American aluminium producers and zirconium demand.

Strong Cash Position and Backlog Support Expansion Plans

6K Additive ended the quarter with a solid cash balance of US$22.1 million, providing ample liquidity to fuel its ongoing capacity expansion and commercial growth initiatives. The company reported a net operating cash outflow of US$3.1 million, reflecting investments in inventory, personnel, and sales activities aligned with scaling production.

The backlog grew 23% quarter-on-quarter to US$11.9 million, driven by a 28% increase in Powder orders, signalling sustained strong customer demand. Repeat orders accounted for over 90% of sales, highlighting customer retention and growing adoption in serial production.

Manufacturing Campus Expansion Progresses on Schedule

Construction at 6K Additive’s Burgettstown, Pennsylvania headquarters and manufacturing campus continues apace, supported by a US$23.4 million Defense Production Act Title III grant. Major contracts have been awarded, the primary production furnace ordered, and critical power infrastructure secured. This expansion aims to boost annual production capacity from 1,600 metric tonnes to over 6,000 metric tonnes across all product lines by the end of 2026, significantly enhancing domestic supply capabilities for aerospace, defense, and advanced manufacturing sectors.

New U.S. Government Contracts and Leadership Strengthening

In April, 6K Additive secured an additional US$1.9 million Small Business Innovation Research Phase II contract through the Defense Logistics Agency, increasing the total program value to US$3.9 million. This contract focuses on domestic production of titanium, tungsten, niobium, and nickel powders, reinforcing U.S. supply chain resilience for critical defense applications. The company also hosted John Jovanovic, Chairman of the Export-Import Bank of the United States, strengthening strategic ties as it finalizes documentation for a US$27.4 million EXIM Bank loan facility.

Operationally, 6K Additive bolstered its leadership with Brandon Davis appointed as Chief Operating Officer. Davis brings over 20 years of manufacturing and operational expertise, focusing on driving efficiency and safety improvements amid rapid expansion. The company maintained an impeccable safety record with zero lost-time incidents during the quarter and launched its enterprise-wide Mission Zero safety framework, embedding safety as a core business value.

Capital Expenditure Set to Accelerate in Second Half

Capital expenditures in Q2 were US$0.7 million, primarily for planning and facility development. However, the company anticipates a sharp increase in spending in the second half of 2026 as construction milestones trigger major equipment and infrastructure payments. This aligns with the previously disclosed annual investment target of US$11-12 million for 2026, aimed at scaling production capacity and operational capabilities.