FY24 loss widened 190% to NZ$812.3m, halving equity in a still pre-revenue year
Operating cash outflows jumped 78% to NZ$724.9m, cutting closing cash to NZ$168.6m while the business remains pre-commercial.
Published 22 April 2026
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Operating cash outflows jumped 78% to NZ$724.9m, cutting closing cash to NZ$168.6m while the business remains pre-commercial.
Published 22 April 2026
Read briefingA pre-revenue pivot toward commercial production has exhausted almost all of the liquidity that underwrote management's "strong balance sheet" claim.
Published 22 April 2026
Read briefingInterest income more than doubled on a larger cash pile, but fair-value-driven losses and a NZ$407.8m operating outflow dominated FY23.
Published 22 April 2026
Read briefingInterest income jumped on a larger cash pile, but the pre-tax loss and cash outflow both deepened while the company remains in acquisition-search...
Published 22 April 2026
Read briefingInterest income halved as the cash pile collapsed from NZ$2.12bn to NZ$21.7m, and the assets it was redeployed into drove a larger loss than last...
Published 22 April 2026
Read briefingA pre-acquisition shell burned through its cash balance while the operating loss deepened and no target has been named.
Published 22 April 2026
Read briefingFY21 loss narrowed 26.4% to NZ$117.6m but revenue collapsed 50.9% with no acquisition yet deployed from the NZ$2.1b cash pile.
Published 22 April 2026
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