Gelion beats FY26 forecasts as £2m Mitsui deal and EV partnership target FY27 revenue

expect to start generating commercial revenues, coming through the Mitsui Kinzoku JDA and the top five EV co-funded proof of concept agreement.

Hello, you're watching Proactive. I'm joined by Gelaean CEO Matt Wood and CFO Amit Gupta. Uh, Matt, Amit, very good to speak with you. You're out with your annual results today. Matt, can I start with you? Could you take us through some of the details?

Yes, thanks Stephen. So today we've released our fiscal year 2026 financial results for the period from the 1st of July 2025 uh to the end of June 2026. And Amit, our CFO will walk through the details momentarily, but at a high level, I am delighted to say that 2026 was another great year of progress for Gelaean. We are extremely pleased uh to deliver strong financial results whilst also delivering exceptional operational progress. That progress is both in with our um existing partnerships such as TDK, uh with Kinectic, and with the Max Planck Institute for Colloids and Interfaces, as well as adding some fantastic new partnerships, uh including with Nissan and their technical center in Europe, our CRADA agreement with the National Lab of the Rockies, um and a couple more that we're not yet able to name. And so, over the past year, we have used our funds to deliver compelling market validation of our nano-encapsulated sulfur technology whilst managing our finances responsibly. Um, I think, you know, importantly, this marks a transition from initial technology development and market validation with a group of industry leading partners into scale up and commercialization and I can talk on uh that a little bit more uh later on.

Uh, so Amit, you're the numbers man. Can you give us some of the the the financial details, please?

Thank you, Stephen. So from my perspective, the key takeaways are, this is the fifth year in a row where we have exceeded expectations. It requires a lot of hard work, efficient capital deployment, and ability to secure non-diluted funding given given the business that we are. We are very well capitalized uh with 9.6 million pounds of performer cash and cash equivalents. This includes the R&D tax benefits and grant which are earned but not received as yet. So receivables. It reflects the proportion of funding that we are getting from the Australian and the UK government. So it's increased significantly from last year to this year, around 14%. Our income was 2 and a half million pounds, approximately 17% above market expectations. Adjusted EBITDA loss was 4.4 million, 10% better than market expectations. And if you consider what Matt just summarized in terms of the enormous technical, commercial progress that we have made, we have expanded geographically, we have entered into the US, and we have been we have achieved all of this without significantly increasing our expense. So this from my perspective is is uh excellent, was an excellent year for Gelaean. Um, we are at an inflection point in FY 27, we expect to start generating commercial revenues, coming through the Mitsui Kinzoku JDA and the top five EV co-funded proof of concept agreement. A strong indication of what is ahead of Gelaean. So very, very happy with the results and we look forward to what the next year holds for us.

Well Matt, perhaps you could tell us a little bit more about what the next year uh holds for the company and also how you build on this strong performance which is reflected in your share price today.

Yes, thank you and and thanks to Amit for for leading us through the numbers. In terms of what this means for Gelaean, I think our key messages are are delivery, momentum, and transition. And so we've delivered great operational focus, uh progress, great operational progress to advance market validation and we've delivered a solid set of finances that have uh exceeded market expectations. Going forward then, it shows great momentum uh in our target applications of drones, EVs and devices where we've got really strong technical and commercial fit. Um, and and lastly, it means that Gelaean is is transitioning into the scale-up phase for nano-encapsulated sulfur and the drive towards commercialization. And so that's where our strategic focus will be going forward uh and we look forward to sharing more about that and how we plan to execute it during tomorrow's investor presentation on the Investor Meets Company platform.

And of course that's at 9:00 tomorrow morning, right Matt?

That's it, Stephen, you've got it.

Good. Well I hope you'll both continue to keep us updated with your progress. Thank you very much for your time today.