First Graphene lifted revenue by 15% to $537,594 for FY26 while narrowing its net loss slightly to $5.4 million. Key acquisitions and a landmark China cement distribution MOU set the stage for commercial expansion.
- 15% revenue growth to $537,594
- Slight reduction in net loss to $5.4 million
- Acquisitions expand US luxury sports and geotextiles markets
- MOU targets $50 billion China cement industry
- Completed graphene research projects on hydrogen storage and metal 3D printing
Revenue Growth Amid Persistent Losses
First Graphene Limited (ASX:FGR) reported a 15% increase in revenue for the year ended 30 June 2026, reaching $537,594, up from $468,397 the previous year. Despite this top-line growth, the company’s net loss remained substantial at $5.4 million, only marginally improved from $5.5 million in FY25. The loss per share narrowed to 0.63 cents from 0.79 cents, reflecting modest progress against ongoing operational challenges.
Gross profit more than doubled to $220,562, driven by improved cost management and operational efficiencies, while research and development expenses fell by nearly 30%, signalling tighter budget control amid growth efforts.
Strategic Acquisitions Bolster US Market Presence
The company completed three asset acquisitions during the year, including a significant purchase from US-based MITO Materials Inc. This deal instantly expanded First Graphene’s footprint in the luxury sports equipment sector, bringing in established customers such as Parlor Skis and Le Croix fishing rods. Former MITO CEO Haley Marie Keith joined First Graphene as Vice President Business Development, tasked with accelerating US market penetration, particularly in defence and aerospace sectors.
Additional acquisitions from Ionic Industries Inc. and Imagine Intelligent Materials opened pathways into the geotextiles market, with ongoing efforts to relocate and integrate Ionic’s coating line aligning with First Graphene’s coatings strategy. These moves collectively signal a concerted push into high-value industrial applications across North America.
Landmark China Cement Distribution Agreement
First Graphene secured a Memorandum of Understanding (MOU) with Sixth Element Material Technology to distribute its PureGRAPH® CEM additive across China’s cement and concrete industry, the largest globally with over 2.3 billion tonnes produced annually. The agreement outlines a target to grow sales to 500 tonnes, which could trigger local manufacturing through a joint venture or licensing arrangement.
This MOU represents the company’s largest commercial opportunity to date, tapping into a market valued at more than USD 50 billion. It builds on recent UK success where a trial with FP McCann produced over 10,000 graphene-enhanced roof tiles, reducing carbon emissions by up to 14% and cement usage by 8%, underscoring PureGRAPH®’s potential to deliver both environmental and performance benefits.
Research Milestones in Hydrogen Storage and Metal Additive Manufacturing
First Graphene completed two notable research projects during the year. The A$3.72 million HyPStore collaboration developed graphene-enhanced Type V hydrogen storage tanks, achieving up to 48-fold reduction in hydrogen permeability. Meanwhile, the A$1.2 million EFFICIENT project with University College London and Imperial College London demonstrated chemically modified graphene’s ability to improve copper 3D printing efficiency and part density, promising applications in aerospace and motorsport sectors.
Capital Raise Supports Growth Initiatives
In November 2025, First Graphene raised $3.5 million through a placement priced at $0.08 per share, accompanied by attaching options exercisable at $0.12. Proceeds from the placement have underpinned the company’s strategic growth, including commercial adoption of PureGRAPH® and general operations. Cash reserves increased modestly to $2.87 million as of 30 June 2026, while net tangible assets per share improved to 0.79 cents.
Bottom Line?
First Graphene’s FY26 results highlight steady revenue gains and strategic expansion into lucrative US and Chinese markets, but sustained losses and integration risks remain key hurdles.
Questions in the middle?
- How will First Graphene convert its China MOU into scalable manufacturing and sales?
- What impact will the new US business development leadership have on defence sector penetration?
- Can ongoing research projects accelerate commercial adoption to offset persistent losses?