• Revenue up 9.5% to $13.3 million
• EBITDA down 32.9% to $1.24 million
• Awarded $20 million 3-year agreement for energetics and technology package

Aquirian Ltd (ASX: AQN) has reported its financial results and key activities for the half year ending 31 December 2024. Total revenue for the period was $13.30 million, a 9.5% increase on the prior corresponding period (PCP). The company's balance sheet remains strong, with net assets of $10.85 million and cash and cash equivalents of $3.79 million. EBITDA of $1.24 million was down 32.9% on PCP, reflecting Aquirian's ongoing transition as it executes its energetics and technology strategy. Key drivers of the financial performance include the timing impact of the Wubin facility volume ramp-up, statutory employee provisioning, and lower utilisation of the company's shrinking underground fleet. The Wubin facility's productivity continues to increase, with the plant currently operating at an instantaneous rate exceeding 25 tonnes per hour. Aquirian has also been awarded a $20 million 3-year agreement for an energetics and technology package at a WA Goldmine, which includes bulk products delivery, initiating systems, and Collar Keeper® Systems. The company's Products and Technology division continued to gain traction, with excellent results from the first manual Collar Keeper® System for Sandvik drill rigs. Aquirian has also been awarded a $250,000 matching grant from the Minerals Research Institute of Western Australia to expedite the development of the automated Collar Keeper® System.

Aquirian expects greater engagement with its products and technology that provide increased drill productivity, reduced costs, and enhanced blast-hole outcomes as clients increasingly prioritise reducing their mining costs.