Iondrive Ltd FY2026 Results: Revenue Surge, Net Loss
Key points
- Revenue increased by 211.4% to $3.64 million
- Net loss after tax was ($7.02) million
- Significant revenue from government grants and R&D Tax Incentive
- No dividend proposed
Full summary
Iondrive Ltd reported a significant increase in revenue for the financial year ended 30 June 2026, rising by 211.4% to $3.64 million from $1.17 million in the prior year. The revenue increase was primarily driven by $1.42 million from the R&D Tax Incentive and $2.13 million from government grants, notably the Australian Government's Industry Growth Program. Despite the revenue growth, the company reported a net loss after income tax of ($7.02) million, compared to a loss of ($4.62) million in the previous year. The loss was attributed to substantial R&D expenditures, pilot plant construction costs, and administrative expenses. The company also established subsidiaries in the Netherlands and the US during the financial year. On 27 April 2026, Iondrive disposed of its South Korean exploration business, receiving $0.36 million in cash proceeds. The company did not propose any dividend for the financial year.
Guidance
FY2026 revenue $3.64 million, net loss after tax ($7.02) million
Outlook
Iondrive plans to focus on regional operations in Europe and the US, with potential applications for government grants in these markets.
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