Market cap
$1.5m
End-of-day close multiplied by current shares on issue.
IPR · NZX
Iperion (IPR)
Construction & Materials / Critical mineralsCovered: FY21 - FY2611 published briefings
Iperion is an NZX-listed construction & materials / critical minerals company. Its latest covered result is FY26, with FY21 - FY26 of source-backed result history on Annolyse.
Sections
Latest result
Latest metrics
FY26, released 29 May 2026
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| Metric | Value | Change |
|---|---|---|
| Revenue | $0m | — |
| Operating profit | -$0.3m | ↑ +33.6% |
| NPAT | -$0.3m | ↑ +32.4% |
| Operating cash flow | -$0.27m | ↑ +38.6% |
| OCF / Operating profit % | 91.5% | ↓ -7.6pp |
| ROE % | n/m | — |
| DPS | 0.0c | — |
| PBT | -$0.3m | ↑ +32.4% |
| FCF pre-lease | -$0.28m | ↑ +37.9% |
| FCF post-lease | -$0.28m | ↑ +37.9% |
Source: latest published briefing (FY26, released 29 May 2026). Change compares against the prior equivalent period: FY25, released 29 May 2025.
Valuation
Valuation
Trailing P/E, EV/EBITDA, price-to-book and price-to-free-cash-flow ratios combine the latest available close with filing data. They are comparative measures, not forecasts or recommendations.
Prices as at close, 4 September 2026
Price and market cap
The latest close and share count context for the market price.
i
Profitability multiples
How the market price compares with recent earnings and cash-flow inputs.
P/E
Not available
Not meaningful when recent earnings are negative.
EPS
-0.00
Recent filing-derived earnings per share.
PEG
Not available
Not available for this company right now.
EV/EBITDA
Not available
Not meaningful when recent EBITDA is negative.
P/FCF
Not available
Not meaningful when free cash flow is negative or unavailable.
P/B
28.61x
Market value compared with latest reported equity.
Income and investment-company measures
Yield and investment-company valuation where supported.
Dividend yield
0.0%
Trailing dividends compared with the latest close.
Total return
Not available
Available once dividend and adjustment data are verified.
Price history
Daily closes use the full available width, with hover and touch values for each observation. Expand the chart to see more detail.
Share price
Five years of daily closes, as at close, 5 June 2026. Weekends, suspensions, and listing gaps stay as natural gaps in the time scale.
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Ask about IPR
Ask follow-up questions about Iperion's latest result and company history.
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Ask about IPR
Informational only. No buy, sell, hold, price-target, or personal financial advice.
Financial history
Performance over time
The latest period is shown first.
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| Metric | FY2612 MONTHS29 May 2026 | HY266 MONTHS24 November 2025 | FY2512 MONTHS29 May 2025 | HY256 MONTHS28 November 2024 | FY2412 MONTHS29 May 2024 | HY246 MONTHS29 November 2023 | FY2312 MONTHS30 May 2023 | HY236 MONTHS29 November 2022 | FY2212 MONTHS30 May 2022 | HY226 MONTHS29 November 2021 | FY2112 MONTHS31 May 2021 | Trend |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0m | $0m | $0m | $0m | $0m | $0m | $0.03m | $0.01m | $0m | $0m | $0.03m | Chart |
| Revenue growth % | -100.0% | — | — | — | -100.0% | -100.0% | -99.8% | 150.0% | -100.0% | -100.0% | -100.0% | Chart |
| Operating profit | -$0.3m | — | -$0.44m | — | -$0.8m | -$0.48m | -$0.28m | -$0.13m | — | — | — | Chart |
| Operating profit margin % | — | — | — | — | — | — | n/m | n/m | — | — | — | Chart |
| PBT | -$0.3m | — | -$0.44m | — | -$0.8m | — | -$0.3m | -$0.1m | — | -$0.1m | -$0.1m | Chart |
| NPAT | -$0.3m | — | -$0.44m | — | -$0.8m | — | -$0.3m | — | — | -$0.1m | -$0.1m | Chart |
| Operating cash flow | -$0.27m | -$0.18m | -$0.44m | -$0.27m | -$0.73m | -$0.37m | -$0.41m | -$0.14m | -$0.12m | -$0.07m | -$0.12m | Chart |
| OCF / Operating profit % | 91.5% | — | 99.1% | — | 90.3% | 76.8% | 145.7% | 104.5% | — | — | — | Chart |
| FCF pre-lease | -$0.28m | -$0.18m | -$0.45m | -$0.27m | -$0.73m | — | — | — | — | — | — | Chart |
| FCF post-lease | -$0.28m | — | -$0.45m | -$0.27m | — | — | — | — | — | — | — | Chart |
| DPS | 0.0c | — | — | — | — | — | — | — | — | — | — | — |
| ROE % | n/m | — | -75.6% | — | -0.1% | — | -17.2% | — | — | -5.4% | -5.7% | Chart |
| Total assets | $0.18m | $0.27m | $0.45m | $0.62m | $0.9m | $1.3m | $1.7m | $1.9m | $2m | $2.1m | $2.2m | Chart |
Reference: annolyse.ai/companies/ipr
Note: Figures are shown as reported. Half-year and full-year absolute values are not directly comparable. Growth rates and ratios are the meaningful comparison across mixed periods.
Filing-only history charts
These charts use verified published filing periods only. Gaps are not interpolated, and mixed half-year/full-year histories are split into separate series.
Revenue
Reported revenue across covered periods.
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EBITDA-equivalent
Company-specific earnings measure where disclosed.
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NPAT
Statutory profit after tax.
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Operating cash flow
Cash generated from operations.
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FCF pre-lease
Operating cash flow less capex before leases.
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FCF post-lease
Free cash flow after lease payments where available.
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More financial metrics
Additional filing-backed metrics for this company. Each point links to the relevant published briefing.
ROE
Return on equity.
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DPS
Dividend per share declared for the period.
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The setup & the reality
HY26 → FY26 Follow-through
The latest result is checked against what the prior briefing said to watch.
Historical setup
What HY26 said to watch
Previous analysisHY26Result releasedAnnolyse analysis published
From Iperion's asset base fell to NZ$0.3m, the smallest on record
No forward targets, guidance, or forward-work disclosures are provided. The supplied shape context shows HY25 carried 82% of FY25's NPAT and 60.9% of FY25's operating cash outflow, so on that pattern alone the second half could imply a smaller incremental loss than the first. That extrapolation is fragile because revenue is zero, cost behaviour is largely discretionary, and the implied FY25 second-half NPAT of –NZ$0.1m was itself small in absolute terms.
What the release does not support is any view on when, or whether, the antimicrobial licence will begin generating royalty income at the disclosed minimum levels. Without that, the result tells the reader how much burn occurred this half, not what the run-rate becomes once the licence activates.
Open questions
Open questions from HY26
- What drove the NZ$0.3m fall in total assets, and were any intangible or licence-related balances impaired or derecognised during the half?
- Why did closing cash rise to NZ$0.2m while total equity fell to NZ$0.2m — what funding or capital movement supported the cash position?
- How is the antimicrobial licence performing against its minimum royalty and minimum performance targets, and when does the company expect any royalty income to be recognised?
- What is the board's view on funding runway and any planned capital raise given the unprecedented-low asset base?
- Does management consider the going-concern basis appropriate, and on what assumptions?
This briefing cannot assess the operational status of the antimicrobial licence, the recoverability of remaining intangible assets, or the company's ability to fund continued operations beyond the cash currently on hand.
Latest result sources
Primary issuer documents used for the FY26 briefing. Document labels are preserved from the publication record; Annolyse does not relabel every financial report as an annual report.
Current period
IPR 2026 Preliminary Full Year Result (Unaudited)
FY26 / financial reportPrior comparable period
IPR 2025 Annual Report
FY25 / financial reportInterim context
IPR 1H26 Interim Report Sep25
HY26 / financial reportIPR 1H26 NZX Result Template
HY26 / results announcementRelease context
2025 Annual Meeting Result
HY26 / commentaryPeer context
Other covered Construction & Materials companies
These companies share a broad sector but may not be direct peers. Compare them only where the underlying measures are genuinely comparable.
Archive
Briefing archive
The full chronological archive contains every published result briefing.
FY26 · Released 29 May 2026
Loss narrowed 35.3% but cash fell 63.5% as Iperion's runway tightens
Operating losses keep absorbing the balance sheet; total equity fell 84.5% to NZ$0.1m while the Pathoglaze licence still produces no revenue.
Read briefing
HY26 · Released 24 November 2025
Iperion's asset base fell to NZ$0.3m, the smallest on record
The half-year loss narrowed and cash burn eased, but with zero revenue the company is operating from its lowest asset base in the supplied historical
Read briefing
FY25 · Released 29 May 2025
Loss narrowed 45.3% but total assets fell to $0.5m unprecedented low
Zero revenue persisted while equity dropped 55.8% and the asset base hit a historical low, leaving runway as the dominant question.
Read briefing
HY25 · Released 28 November 2024
Loss narrowed 21.4% but equity fell 62.2% on continued zero-revenue burn
The smaller HY25 loss is cost-base contraction, not progress, with NZ$0.1m of cash facing a NZ$0.3m half-year operating burn.
Read briefing
FY24 · Released 29 May 2024
Iperion's asset base shrank 99.9% to NZ$0.9m, leaving NZ$0.2m cash
The reported 99.7% NPAT improvement is a scale artefact: a near-complete contraction of the balance sheet leaves cash burn outrunning cash on hand.
Read briefing
HY24 · Released 29 November 2023
Cash balance hit zero as the loss widened 250.8% on no revenue
An effectively dormant shell burned through its remaining NZ$0.7m of cash while the operating loss more than tripled to NZ$0.5m.
Read briefing
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