• Revenue up 57% to $1.31 million, primarily from property sales
• R&D tax rebate down 44% to $3.5 million due to decreased R&D activity
• Loss before tax increased 4% to $29.0 million

FBR Ltd has reported its preliminary financial results for the year ended 30 June 2025. The company's revenue increased 57% to $1.31 million, primarily due to the sale of properties from its Wellard portfolio. However, the company's R&D tax rebate declined 44% to $3.5 million as it shifted its focus to commercializing the Hadrian X bricklaying robot. The unaudited loss before tax expense/benefit for the 12 months to 30 June 2025 was $29,002,045, an increase of 4% on the prior period. The company implemented restructuring and cost reduction measures in Q4 FY25, which had a small net impact on the FY2025 results but are expected to provide significant benefits in FY2026. Key highlights during the year included the completion of a 10-home build demonstration program in the United States using the Hadrian X robot, the execution of an engineering services agreement with Samsung Heavy Industries, and the execution of an MOU to sell a Hadrian X unit for $7.8 million.