Titomic Limited (ASX: TTT), a global leader in advanced additive manufacturing and cold spray technology, is pleased to release its Annual Report for the full-year ended 30 June 2025.
Highlights during FY2025:
- Strong Financial Growth: Revenue increased 37% year-on-year to AUD 8.1 million (FY2024: AUD 5.9 million).
- Successful Capital Raising: AUD 80 million raised. AUD 30 million October 2024 and AUD 50 million in July 2025 to fund U.S. expansion and global growth.
- Strategic plan on track:
- Strategic U.S. Expansion: In June 2025, Titomic inaugurated its 59,000 sq. ft. global headquarters and manufacturing facility in Huntsville, Alabama, positioning the Company at the heart of the world’s largest defense and aerospace ecosystem.
- Leadership and Governance Strengthened: Appointment of Retired Lt. Gen. John Frewen AO, DSC to the Board and senior industry executives including Jim Simpson (CEO/Managing Director), Dr. Patti Dare (President, U.S.), Sarah Neeley (COO, U.S.), and Kirk Pysher (SVP Manufacturing, U.S.).
- U.S. Strategic Advisory Group Established: Appointments include Lt. Gen (Ret.) Henry “Trey” Obering, John Schumacher, Dr. John Stopher, LTC (Ret.) Rich Choppa, Michael Kirkpatrick, and Chris Myers.
- Expanded Customer Base: Breakthrough sales to Northrop Grumman, NAVSEA (U.S. Navy), University of North Texas, Université de Limoges, Triton Systems, Fraunhofer-Gesellschaft, Effee, and Hydraulex.
- Tier 1 Engagements Progressing:
- Boeing production qualification pathway initiated.
- Northrop Grumman collaboration on aerospace-grade pressure vessels.
- Airbus MRO pilots underway with expansion potential to 40+ owned and 400+ affiliate MRO sites.
- Secured U.S. sourced titanium and refractory metal supply:
- Signed supply agreements with five U.S. based metal powder companies
- Innovation Leadership: AR-enabled low-pressure cold spray (D523), prototype cold spray backpack system, and development of mobile/field-deployable solutions.
- Industry Standards: Co-developer of AMS 7057 aerospace standard and participant in DNV Program for oil & gas cold spray applications.
Market and Strategic Outlook:
- Pivot to Services and Recurring Revenue: Transition from machine sales to a high-margin service and leasing model, underpinned by powder supply, training, and repair-as-a-service.
- Favourable Tailwinds:
- U.S. FY2026 defense budget approval exceeding US$1 trillion.
- EU defense investments forecast to reach €800 billion by 2030.
- Funding and Government Support:
- Secured: €800k Dutch Ministry of Economic Affairs (3D PK) grant.
- In Progress: U.S. Office of Strategic Capital (OSC) loan (~US$24m), U.S. DPA Title III support, SBIR/STTR funding, and Australian National Reconstruction Fund (A$5m).
- Growth Roadmap – Targeting US$750M Revenue by 2030:
- CY2025: Demonstrations and validation (Northrop, Airbus MRO, NAVSEA, USACE, DNV, NASA, and NATO/Ukraine). Expanding European operations.
- CY2026–CY2027: Initial production and rapid expansion across defense, aerospace, oil & gas and MRO roll-out activities.
- CY2028–CY2029: Multi-sector penetration and NATO deployments.
- CY2030: Scale achieved with – diversified annual revenues from Defense & Aerospace; Oil & Gas/Maritime; MRO/Aviation; Transportation; and Systems, Powder & Leasing.
Jim Simpson, CEO & Managing Director, stated:
“FY2025 was a transformational year for Titomic. With our new Huntsville headquarters, strengthened leadership, and record capital raising, we are now positioned as an American-headquartered global leader in cold spray technology. Our pivot to services and recurring revenue, alongside growing Tier 1 prime and government engagements, gives us confidence in our path to US$750 million in annual revenues by 2030.
We are reshaping industrial manufacturing and repair—providing disruptive, non-thermal, mobile, and high-integrity solutions across defense, aerospace, energy, and infrastructure. Titomic is primed to deliver strong shareholder value as we enter FY2026.”
Change of Financial Year End:
To better align with U.S. and European operations Titomic will be changing its financial year end from 30 June to 31 December. Practically, Titomic will undertake a full audit of its six-months to 31 December 2025 financial report with the first full year of the new reporting timing commencing on 1 January 2026.
This announcement has been authorized for release by Titomic’s Board of Directors.
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