Audited Results for the Year Ended 30 June 2026
Summary by AI BETAClose X
2 November 2026
CAP-XX Limited
("CAP-XX" or the "Company")
Audited Results for the Year Ended 30 June 2026
New orders up 35% and EBITDA losses down 33%
CAP-XX Limited (AIM: CPX), a global leader in the design and manufacture of supercapacitors and energy management systems, announces its audited results for the year ended 30 June 2026 ("FY26") and provides an update on trading for the three months ended 30 September 2026 ("Q1 FY27").
FY26 Financial Highlights
- Revenue increased by approximately 11% to A$5.21 million (FY25: A$4.70 million)
- EBITDA loss reduced by approximately 33% to A$2.03 million (FY25: A$3.04 million loss)
- Loss after tax reduced by approximately 28% to A$2.82 million (FY25: A$3.93 million loss)
- Orders received increased 35% to A$6.71 million
- Total order backlog increased 26% to A$3.42 million
- Cash of A$0.87 million at 30 June 2026 (FY25: A$3.96 million), since strengthened by a A$4.4 million (£2.3 million) capital raise in July 2026 and an A$1.93 million R&D tax incentive (FY25: A$1.75 million) expected to be received before the end of the calendar year
FY26 Commercial Highlights
- EMEA revenue increased 51% to A$3.05 million
- Expanded global distribution network, including RS Group plc, Premier Farnell and Waldom UK
- SCHURTER AG partnership progressed with white-label products launched
- Strategic partnership established with Würth Elektronik
- Major global customer design-ins progressed towards recurring revenues
FY26 Operational Highlights
- Significant reduction in the Group's operating cost base
- Implementation of the Warehouse Management System at Seven Hills, integrated with CRM, MYOB and Power BI, improving visibility across procurement, manufacturing, inventory and order fulfilment
- Continued development of CAP-XX's ultra-thin DMH platform, SMT supercapacitor technology and higher-capacity Module products
Post Year End: Q1 FY27 Trading (1 July to 30 September 2026)
- Q1 FY27 Revenue increased by approximately 25% to A$1.30 million (Q1 FY26: A$1.04 million)
- Q1 FY27 Orders increased by 66% to A$2.07 million (Q1 FY26: A$1.25 million)
- Q1 FY27 Backlog increased by 23% to A$4.20 million from 1 July to 30 September 2026
In summary, having materially reduced losses and strengthened demand, our focus in FY27 is to increase revenue and continue our progress towards break-even.
Investor presentation
Lars Stegmann, Chief Executive Officer, and Tony Guarna, Interim CFO will provide a live presentation relating to the FY26 results via the Investor Meet Company platform on 3 November 2026 at 10:00 a.m. GMT. Management will address questions submitted in advance of the meeting only. Questions can be submitted via your Investor Meet Company dashboard until 17:00 GMT on 2 November 2026. Investors can sign up to Investor Meet Company for free and add to meet CAP-XX via:
https://www.investormeetcompany.com/cap-xx-limited/register-investor
Investors who already follow CAP-XX Limited on the Investor Meet Company platform will automatically be invited.
For further information, please contact:
|
CAP-XX Limited Graham Cooley (Chairman) Lars Stegmann (Chief Executive Officer)
|
+61 (2) 9157 0000 |
|
Allenby Capital (Nominated Adviser and Sole Bookrunner) David Hart / David Asquith (Corporate Finance) Tony Quirke / Jos Pinnington (Sales and Corporate Broking)
|
+44 (0) 20 3328 5656 |
Notes to Editors:
CAP-XX (LSE: CPX) is a leader in the design and manufacture of thin, flat supercapacitors and energy management systems used in portable and small-scale electronic devices, and to an increasing extent, in larger applications such as automotive and renewable energy. The unique feature of CAP-XX supercapacitors is their very high-power density and high energy storage capacity in a space-efficient prismatic package. These attributes are essential in power-hungry consumer and industrial electronics and deliver similar benefits in automotive and other transportation applications.
For more information about CAP-XX, visit www.cap-xx.com
Chairman's Statement
The financial year ended 30 June 2026 was a year of significant progress for CAP-XX. Most importantly, it demonstrated that the actions taken over the past two years to strengthen the business are translating into substantially improved financial performance and growing commercial momentum.
Sale of goods revenue increased approximately 11% to A$5.21 million from A$4.70 million, and total operating revenue in FY26 was A$5.29 million. EBITDA loss improved by approximately 33% to A$2.03 million and the loss after tax improved by approximately 28% to A$2.82 million.
This improvement in performance is particularly important because it was achieved while maintaining investment in research and product development. It demonstrates the operational leverage within the business as we increase revenue, improve margins and maintain disciplined control of our cost base.
Demand for CAP-XX products also strengthened during the year. Orders received increased 35% to A$6.71 million and CAP-XX finished FY26 with an order backlog of A$3.42 million, 26% higher than the corresponding prior-year position.
Our strategy is focused on converting this growing demand, together with customer design-ins and our substantially broader global routes to market, into repeatable revenues. Our relationship with SCHURTER AG continued to progress during the year, with commercial and engineering agreements in place, white-label products launched and an expanding project pipeline. We also continued to progress design-ins with major global customers, which have the potential to generate multi-year recurring revenues.
Following the year end, CAP-XX successfully raised approximately £2.3 million (A$4.4 million) gross through a placing, subscription and oversubscribed retail offer. I would particularly like to thank our existing shareholders for their continued support and welcome the new investors who have chosen to back CAP-XX. We also expect to receive a A$1.93 million R&D tax incentive (FY25: A$1.75 million) before the end of this calendar year.
These funds will support the next stage of the Company’s development. The majority of the proceeds will support increased manufacturing capability, including upgrades to the DMF/DMT production line, expansion of DMH capacity and investment in coating capability, alongside working capital, customer acquisition and distributor growth.
Our objective remains clear: to build CAP-XX into a sustainably profitable and cash-generative global business. FY26 represents substantial progress towards that objective. Having materially reduced losses and strengthened demand, our focus in FY27 is to increase revenues, improve margins and continue our progress towards break-even.
CAP-XX enters FY27 with a larger order book, broader global routes to market, improving financial performance and the capital required to support growth. The task now is execution: converting these stronger foundations into sustainable profitable growth and positive cash flow.
On behalf of the Board, I would like to thank Lars and the entire CAP-XX team for their commitment throughout the year, together with our customers, partners and shareholders for their continued support.
Chief Executive Officer's Review
During FY26, CAP-XX operated amid significant geopolitical and supply-chain disruption. Conflict affecting the Red Sea, Suez Canal and global energy routes, the continuing war in Ukraine, and intensifying US-China trade restrictions increased energy, freight, and insurance costs, constrained transport capacity and extended lead times. Against this backdrop, CAP-XX maintained disciplined operations, diversified its routes to market and invested selectively to strengthen the foundations for sustainable growth and long-term shareholder value.
Orders received increased 35% to A$6.71 million, while the year-end order backlog rose by 26% to A$3.42 million, providing greater revenue visibility entering FY27. Our objective is to convert design-ins, distribution relationships and technology partnerships into recurring revenue, manage costs and sustainable cash generation.
Commercial development
During FY26, CAP-XX expanded its international customer base and distribution network through partners including RS Group plc, DigiKey, Premier Farnell Limited and TME. The network now serves customers in more than 30 countries, supporting projects from initial design and prototyping through to full-scale production.
Our relationship with SCHURTER AG advanced through commercial and engineering agreements, white-label product launches and a coordinated go-to-market strategy. We also progressed design wins with major global customers, where successful qualification can generate recurring production revenue over multiple years.
European revenue increased by approximately 51% to A$3.05 million, making Europe CAP-XX's largest market and contributing approximately 58% of Group operating revenue.
Operational execution
Efficient, reliable and scalable manufacturing is essential to converting commercial momentum into stronger margins and sustainable cash generation. During FY26, we further implemented and optimised our Warehouse Management System across Seven Hills and our Malaysian contract manufacturing partner, improving visibility and control across procurement, production, inventory and fulfilment.
Following year-end, the approximately A$4.4 million gross capital raising provided funding to expand DMH capacity, upgrade the DMF/DMT production line, enhance coating capability and support working capital. We will deploy this capital with discipline, focusing on margin improvement and operational returns.
Products and technology
Innovation remains central to CAP-XX’s long-term competitive position. During FY26, we advanced the ultra-thin DMH platform, the SMT supercapacitor range and higher-capacity Module products for applications including industrial equipment, data centres and grid stabilisation.
R&D investment remains focused on product performance, manufacturability, new applications and the protection of proprietary know-how. Priority will be given to opportunities with a credible path to commercial scale and sustainable returns.
Outlook
CAP-XX enters FY27 with a larger order backlog, broader access to global customers, major customer design-ins progressing towards production and additional capital to expand manufacturing capability. Our priority is to convert these strengths into sustained revenue growth, manage cost, cash generation and long-term shareholder value.
We will execute the order book, convert design-ins and partnerships into recurring revenue, expand capacity in line with demonstrated demand, improve margins, and maintain rigorous control of costs, capital expenditure and working capital.
Our focus for FY27 and beyond is clear: to build a sustainably profitable, cash-generative global energy-storage business.
On behalf of the Board, I thank our customers, partners and shareholders for their continued confidence and support, and the CAP-XX team for its commitment and contribution throughout FY26.
Business Review
Review of Operations and Activities
During FY26, CAP-XX Limited continued the transformation of its operations towards a more commercially focused, scalable and financially sustainable business.
The Group's principal activities remained the development, manufacture and sale of supercapacitors. CAP-XX's strategy is focused on increasing adoption of its high-performance supercapacitor technologies through direct sales, global distribution partnerships, customer design wins and strategic commercial relationships.
Financial performance
Sale of goods revenue increased to $5.21 million in FY26 compared to $4.70 million in FY25, an increase of approximately 11% and total operating revenue for FY26 increased to $5.29 million, compared with $4.94 million in FY25, an increase of approximately 7%.
The Group recorded a loss after tax of $2.82 million, compared with a loss of $3.93 million in FY25, an improvement of approximately 28%.
A reconciliation of the loss attributable to the owners of CAP-XX Limited as reported in the consolidated statement of profit or loss through to EBITDA and Adjusted EBITDA is set out below.
EBITDA and Adjusted EBITDA improved materially during the year:
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
EBITDA and Adjusted EBITDA Calculation |
|
|
|
|
|
Loss before income tax |
|
(2,815,870) |
|
(3,925,922) |
|
Depreciation and Amortisation expense |
|
650,229 |
|
716,959 |
|
Interest Expense |
|
172,924 |
|
240,902 |
|
Interest Income |
|
(33,640) |
|
(73,993) |
|
|
|
|
|
|
|
EBITDA |
|
(2,026,357) |
|
(3,042,054) |
|
|
|
|
|
|
|
Share based payments-options expense |
|
170,146 |
|
397,968 |
|
Add back: Non-recurring restructuring costs |
|
100,258 |
|
- |
|
Adjusted EBITDA |
|
(1,755,953) |
|
(2,644,086) |
The improvement in EBITDA reflects higher revenue, together with tighter control of the Group's operating cost base. General and administrative expenses reduced materially compared with FY25, while employee benefits expense reduced to $2.96 million from $3.13 million.
Other income included an R&D Tax Incentive Grant of $1.93 million (2025: $1.75 million).
Cash and cash equivalents at 30 June 2026 were $0.87 million, compared with $3.96 million at 30 June 2025. The Group has also recognised an R&D tax credit receivable of $1.93 million expected to be received before the end of the calendar year (2025: $1.75 million).
Commercial performance
Commercial activity strengthened during FY26.
The Group closed FY26 with bookings of $6.71 million (an increase of 35% over the corresponding prior year) and a backlog order book of $3.42 million (an increase of 26% compared with the corresponding prior year). This performance reflects increasing customer engagement, the development of CAP-XX's global distribution network and progress in converting design-in opportunities into commercial orders.
The Group's revenue mix also became increasingly international. EMEA revenue increased approximately 51% from $2.02 million to $3.05 million and represented approximately 58% of the total Group revenue. APAC generated $1.80 million and the Americas $0.43 million.
Customer concentration reduced during the year with one customer contributing more than 10% of Group revenue in FY26, compared with three customers each contributing 10% of FY25 Group revenue.
Distribution and strategic partnerships
CAP-XX continued to expand its routes to market through a combination of direct customer engagement and global distribution relationships.
The distribution agreement with RS Group plc expanded the availability of CAP-XX's prismatic, cylindrical and hybrid supercapacitors through RS Group plc's international distribution and logistics infrastructure. Together with Farnell (Avnet), Digi-Key and Waldom UK Limited, these relationships provide CAP-XX with access to customers from early-stage engineering and prototyping through to commercial production.
The Group's white-label relationship with SCHURTER AG also progressed during FY26. Commercial and engineering contracts have been entered into, products launched and a go-to-market strategy established, with an initial project pipeline under development.
Manufacturing and operational performance
During FY26, CAP-XX continued to improve the efficiency, visibility and scalability of its manufacturing operations.
A significant milestone was the implementation of the Datapel Warehouse Management System at the Seven Hills facility. The system provides greater control over procurement, manufacturing tracking, sales-order fulfilment and inventory, while integration with Pipeliner CRM, MYOB and Power BI has improved management reporting and operational visibility.
Inventory levels have remained stable, as at 30 June 2026 inventory holdings were $1.02 million compared to $0.99 million as at the prior year end.
The Group continued to manufacture electrode material and selected supercapacitor products at Seven Hills while utilising outsourced production for larger-volume product lines.
Research, development and product strategy
CAP-XX continued to invest in research and product development during FY26, with research expenditure of approximately $4.44 million, compared with $3.76 million in FY25.
Development activities included CAP-XX's ultra-thin DMH platform, the continued development and commercial assessment of SMT supercapacitors and development of higher-capacity Module products.
The SMT programme is intended to broaden the applications in which CAP-XX products can be incorporated by enabling compatibility with conventional automated electronics assembly processes. The Group continues to evaluate the commercial applications, customer demand and revenue opportunities associated with the technology.
The Module product range represents an extension of CAP-XX's technology into customised higher-energy and higher-power systems, with potential applications including industrial equipment, data centres and grid stabilisation.
During FY26 the Group also continued to develop technical content supporting customers and engineers, including publication of an application white paper explaining methods for measuring supercapacitor capacitance, Equivalent Series Resistance and leakage current.
People, quality and sustainability
CAP-XX continued to invest in its organisational capabilities during FY26. The Group was recognised as one of Australia's Best Places to Work 2026, reflecting the importance placed on employee engagement and organisational culture.
The Group continues to maintain quality and environmental management systems supporting its manufacturing activities. No breaches of applicable environmental regulatory requirements were reported during FY26.
Subsequent events and outlook
On 30 July 2026, CAP-XX announced a placing and subscription to raise gross proceeds of GBP£2.2 million, together with a retail offer of up to GBP£0.1 million, at an issue price of 0.15 pence per share. On 3 August 2026 the capital raise concluded, raising total gross proceeds (before expenses) of $4.4 million (GBP£2.3 million).
The proceeds are intended principally to fund manufacturing expansion, including upgrading the existing DMF/DMT line, increasing DMH production capacity and developing a clean coating room applicable across the Group's product lines. The Group also intends to support customer acquisition, distributor growth and general working capital.
CAP-XX enters FY27 with an increased order backlog, broader global distribution network, improving operating performance and a growing portfolio of customer design-in opportunities.
The Board's priorities for FY27 are to convert the existing backlog and commercial pipeline into revenue, increase manufacturing capacity, improve margins, maintain disciplined control of operating expenditure and working capital, and progress the Group towards sustainable positive operating cash flow.
Consolidated statement of profit or loss and other comprehensive income for the year ended 30 June 2026
|
|
|
Note |
|
2026 |
|
2025 |
|
|
|
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
|
|
|
|
|
|
Revenue from contracts with customers |
|
5 |
|
5,288,096 |
|
4,939,728 |
|
|
Cost of sales |
|
|
|
(2,179,505) |
|
(2,931,104) |
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
3,108,591 |
|
2,008,624 |
|
|
|
|
|
|
|
|
|
|
|
Other income |
|
6 |
|
1,947,716 |
|
2,141,349 |
|
|
Finance income |
|
6 |
|
33,640 |
|
73,993 |
|
|
|
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
|
|
|
Process and engineering expenses |
|
|
|
(528,202) |
|
(865,717) |
|
|
Research expenses |
|
|
|
(4,439,352) |
|
(3,764,945) |
|
|
Other expenses |
|
|
|
(255,575) |
|
(24,711) |
|
|
Finance costs |
|
7 |
|
(172,924) |
|
(240,902) |
|
|
Selling and marketing expenses |
|
|
|
(790,682) |
|
(540,056) |
|
|
General and administrative expenses |
|
|
|
(1,719,082) |
|
(2,713,557) |
|
|
|
|
|
|
|
|
|
|
|
Loss before income tax expense |
|
7 |
|
(2,815,870) |
|
(3,925,922) |
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
Loss after income tax expense for the year attributable to the owners of CAP-XX Limited |
|
|
|
(2,815,870) |
|
(3,925,922) |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Items that may be reclassified subsequently to profit or loss |
|
|
|
|
|
|
|
|
Exchange differences on translation of foreign operations |
|
|
|
(746) |
|
(56,640) |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income for the year, net of tax |
|
|
|
(746) |
|
(56,640) |
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive loss for the year attributable to the owners of CAP-XX Limited |
|
|
|
(2,816,616) |
|
(3,982,562) |
|
|
|
|
|
|
|
|
|
|
|
Earnings per share for loss attributable to the Ordinary equity holders of the Company
Basic loss per share (cents per share) |
|
32 |
|
(0.05) |
|
(0.08) |
|
|
Diluted loss per share (cents per share) |
|
32 |
|
(0.05) |
|
(0.08) |
|
|
|
|
|
|
|
|
|
|
Consolidated statement of financial position as at 30 June 2026
|
|
|
Note |
|
2026 |
|
2025 |
||||||
|
|
|
|
|
$ |
|
$ |
||||||
|
|
|
|
|
|
|
|
||||||
|
Assets |
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
||||||
|
Current assets |
|
|
|
|
|
|
||||||
|
Cash and cash equivalents |
|
9 |
|
872,968 |
|
3,956,163 |
||||||
|
Trade and other receivables |
|
10 |
|
2,776,722 |
|
2,471,775 |
||||||
|
Inventories |
|
11 |
|
1,023,688 |
|
991,017 |
||||||
|
Other assets |
|
12 |
|
68,152 |
|
65,937 |
||||||
|
Total current assets |
|
|
|
4,741,530 |
|
7,484,892 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Non-current assets |
|
|
|
|
|
|
||||||
|
Property, plant and equipment |
|
13 |
|
1,507,612 |
|
1,699,718 |
||||||
|
Intangibles |
|
14 |
|
182,069 |
|
149,715 |
||||||
|
Right-of-use assets |
|
15 |
|
1,184,581 |
|
1,515,161 |
||||||
|
Other assets |
|
16 |
|
307,360 |
|
204,808 |
||||||
|
Total non-current assets |
|
|
|
3,181,622 |
|
3,569,402 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Total assets |
|
|
|
7,923,152 |
|
11,054,294 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Liabilities |
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
|
||||||
|
Current liabilities |
|
|
|
|
|
|
||||||
|
Trade and other payables |
|
17 |
|
1,078,100 |
|
1,297,348 |
||||||
|
Lease liabilities |
|
18 |
|
340,813 |
|
442,561 |
||||||
|
Employee benefit obligations |
|
19 |
|
385,276 |
|
466,563 |
||||||
|
Total current liabilities |
|
|
|
1,804,189 |
|
2,206,472 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Non-current liabilities |
|
|
|
|
|
|
||||||
|
Lease liabilities |
|
18 |
|
1,102,566 |
|
1,300,036 |
||||||
|
Employee benefit obligations |
|
19 |
|
76,159 |
|
63,102 |
||||||
|
Provisions |
|
20 |
|
785,863 |
|
785,863 |
||||||
|
Total non-current liabilities |
|
|
|
1,964,588 |
|
2,149,001 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Total liabilities |
|
|
|
3,768,777 |
|
4,355,473 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Net assets |
|
|
|
4,154,375 |
|
6,698,821 |
||||||
|
|
|
|
|
|
|
|
||||||
|
Equity |
|
|
|
|
|
|
||||||
|
Contributed equity |
|
21 |
|
128,938,954 |
|
128,836,930 |
||||||
|
Reserves |
|
22 |
|
8,842,497 |
|
8,673,097 |
||||||
|
Accumulated losses |
|
22 |
|
(133,627,076) |
|
(130,811,206) |
||||||
|
|
|
|
|
|
|
|
||||||
|
Total equity |
|
|
|
4,154,375 |
|
6,698,821 |
||||||
Consolidated statement of changes in equity for the year ended 30 June 2026
|
|
Note |
Issued capital |
Reserves |
Accumulated Losses |
Total Equity |
|
|
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
Balance at 1 July 2024 |
|
122,900,813 |
8,437,602 |
(126,885,284) |
4,453,131 |
|
|
|
|
|
|
|
|
Loss after income tax expense for the year |
|
- |
- |
(3,925,922) |
(3,925,922) |
|
Other comprehensive income for the year, net of tax |
|
|
(56,640) |
- |
(56,640) |
|
|
|
|
|
|
|
|
Total comprehensive income for the year |
|
- |
(56,640) |
(3,925,922) |
(3,982,562) |
|
|
|
|
|
|
|
|
Transactions with owners in their capacity as owners: |
|
|
|
|
|
|
Contributions of equity, net of transaction costs and tax |
21(b) |
5,830,284 |
- |
- |
5,830,284 |
|
Employee share options - share based payments |
22(a) |
- |
397,968 |
- |
397,968 |
|
Warrants exercised |
21(b) |
105,833 |
(105,833) |
- |
- |
|
|
|
|
|
|
|
|
Balance at 30 June 2025 |
|
128,836,930 |
8,673,097 |
(130,811,206) |
6,698,821 |
|
|
Note |
Issued capital |
Reserves |
Accumulated Losses |
Total Equity |
|
|
|
$ |
$ |
$ |
$ |
|
|
|
|
|
|
|
|
Balance at 1 July 2025 |
|
128,836,930 |
8,673,097 |
(130,811,206) |
6,698,821 |
|
|
|
|
|
|
|
|
Loss after income tax expense for the year |
|
- |
- |
(2,815,870) |
(2,815,870) |
|
Other comprehensive income for the year, net of tax |
|
- |
(746) |
- |
(746) |
|
Total comprehensive income for the year |
|
- |
(746) |
(2,815,870) |
(2,816,616) |
|
|
|
|
|
|
|
|
Transactions with owners in their capacity as owners: |
|
|
|
|
|
|
Contributions of equity, net of transaction costs and tax |
21(b) |
102,024 |
- |
- |
102,024 |
|
Employee share options - share based payments |
22(a) |
- |
170,146 |
- |
170,146 |
|
|
|
|
|
|
|
|
Balance at 30 June 2026 |
|
128,938,954 |
8,842,497 |
(133,627,076) |
4,154,375 |
Consolidated statement of cash flows for the year ended 30 June 2026
|
|
|
Note |
|
2026 |
|
2025 |
||||
|
|
|
|
|
$ |
|
$ |
||||
|
|
|
|
|
|
|
|
||||
|
Cash flows from operating activities |
|
|
|
|
|
|
||||
|
Receipts from customers (inclusive of GST) |
|
|
|
5,312,664 |
|
5,017,105 |
||||
|
Payments to suppliers and employees (inclusive of GST) |
|
|
|
(9,443,858) |
|
(9,157,248) |
||||
|
|
|
|
|
(4,131,194) |
|
(4,140,143) |
||||
|
|
|
|
|
|
|
|
||||
|
R&D Tax incentive received |
|
|
|
1,749,696 |
|
1,953,159 |
||||
|
Interest received |
|
|
|
33,640 |
|
73,993 |
||||
|
Interest and other finance costs paid |
|
|
|
(172,924) |
|
(240,902) |
||||
|
|
|
|
|
|
|
|
||||
|
Net cash used in operating activities |
|
|
|
(2,520,782) |
|
(2,353,893) |
||||
|
|
|
|
|
|
|
|
||||
|
Cash flows from investing activities |
|
|
|
|
|
|
||||
|
Payments for property, plant and equipment |
|
|
|
(127,543) |
|
(40,885) |
||||
|
Payments for intangibles |
|
|
|
(32,354) |
|
(149,714) |
||||
|
Additional security deposit paid |
|
|
|
(102,552) |
|
- |
||||
|
|
|
|
|
|
|
|
||||
|
Net cash used in investing activities |
|
|
|
(262,449) |
|
(190,599) |
||||
|
|
|
|
|
|
|
|
||||
|
Cash flows from financing activities |
|
|
|
|
|
|
||||
|
Proceeds from issue of shares |
|
|
|
- |
|
6,321,132 |
||||
|
Costs associated with the issue of shares |
|
|
|
- |
|
(490,846) |
||||
|
Proceeds from borrowings |
|
|
|
- |
|
814,464 |
||||
|
Repayment of borrowings |
|
|
|
- |
|
(1,582,638) |
||||
|
Principal repayment of lease liabilities |
|
|
|
(299,218) |
|
(265,567) |
||||
|
|
|
|
|
|
|
|
||||
|
Net cash (used in) / provided by financing activities |
|
|
|
(299,218) |
|
4,796,545 |
||||
|
|
|
|
|
|
|
|
||||
|
Net (decrease) / increase in cash and cash equivalents |
|
|
|
(3,082,449) |
|
2,252,053 |
||||
|
Cash and cash equivalents at the beginning of the financial year |
|
|
|
3,956,163 |
|
1,760,750 |
||||
|
Effects of exchange rate changes on cash and cash equivalents |
|
|
|
(746) |
|
(56,640) |
||||
|
|
|
|
|
|
|
|
||||
|
Cash and cash equivalents at the end of the financial year |
|
9 |
|
872,968 |
|
3,956,163 |
||||
Notes to the consolidated financial statements for the year ended 30 June 2026
Note 1. Material Accounting Policy Information
The material accounting policy information relating to the preparation of these consolidated financial statements is set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements are for the consolidated entity consisting of CAP-XX Limited and its controlled entities.
All amounts shown are in Australian dollars, rounded to the nearest dollar, unless otherwise stated.
(a) Basis of preparation
These general purpose financial statements have been prepared in accordance with Australian Accounting Standards and Interpretations issued by the Australian Accounting Standards Board and the Corporations Act 2001. CAP-XX Limited is a for-profit entity for the purpose of preparing the consolidated financial statements.
Note 5. Revenue
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
Sales revenue |
|
|
|
|
|
Sale of goods (recognised at a point in time) |
|
5,214,480 |
|
4,704,719 |
|
Other services provided (recognised at a point in time) |
|
73,616 |
|
235,009 |
|
|
|
5,288,096 |
|
4,939,728 |
Note 6. Other income and finance income
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Other Income R&D Tax Incentive Grant |
|
1,926,458 |
|
1,749,696 |
|
Other income |
|
21,258 |
|
- |
|
Net foreign exchange gains |
|
- |
|
391,653 |
|
|
|
|
|
|
|
Other income |
|
1,947,716 |
|
2,141,349 |
|
Finance Income |
|
|
|
|
|
Interest income |
|
33,640 |
|
73,993 |
Note 7. Result for the year
The result for the year includes the following specific expenses:
|
|
|
2026 |
|
2025 |
|
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
|
|
Depreciation and amortisation |
|
650,229 |
|
716,959 |
|
|
|
|
|
|
|
|
|
Net foreign exchange losses |
|
255,575 |
|
- |
|
|
|
|
|
|
|
|
|
Legal expenses |
|
22,090 |
|
28,848 |
|
|
|
|
|
|
|
|
|
Share based payments |
|
170,146 |
|
397,968 |
|
|
Employee benefits expense |
|
2,957,244 |
|
3,126,923 |
|
|
|
|
|
|
|
|
|
Finance costs |
|
|
|
|
|
|
Interest – lease liabilities |
|
143,343 |
|
164,104 |
|
|
Other interest costs incurred |
|
29,581 |
|
76,798 |
|
|
|
|
|
|
|
|
|
|
|
172,924 |
|
240,902 |
|
Note 9. Current assets - cash and cash equivalents
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Cash at bank |
|
872,968 |
|
1,384,081 |
|
Cash on deposit |
|
- |
|
2,572,082 |
|
|
|
|
|
|
|
|
|
872,968 |
|
3,956,163 |
Note 10. Current assets - trade and other receivables
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Trade receivables |
|
866,671 |
|
845,918 |
|
Less: Allowance for expected credit losses |
|
(16,407) |
|
(154,645) |
|
Research & development tax credit |
|
1,926,458 |
|
1,780,502 |
|
|
|
|
|
|
|
|
|
2,776,722 |
|
2,471,775 |
Note 11. Current assets - inventories
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Raw materials and stores |
|
778,621 |
|
681,849 |
|
Work in progress |
|
- |
|
64,135 |
|
Finished goods |
|
305,361 |
|
279,514 |
|
Obsolescence provision |
|
(60,294) |
|
(34,481) |
|
|
|
|
|
|
|
|
|
1,023,688 |
|
991,017 |
Note 12. Current assets - other
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Prepayments |
|
61,275 |
|
65,804 |
|
Other |
|
6,877 |
|
133 |
|
|
|
|
|
|
|
|
|
68,152 |
|
65,937 |
Note 13. Non-current assets - property, plant and equipment
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Leasehold improvements - at cost |
|
507,376 |
|
505,776 |
|
Less: Accumulated depreciation |
|
(476,858) |
|
(473,207) |
|
|
|
30,518 |
|
32,569 |
|
|
|
|
|
|
|
Fixtures and fittings - at cost |
|
69,394 |
|
69,394 |
|
Less: Accumulated depreciation |
|
(67,915) |
|
(67,653) |
|
|
|
1,479 |
|
1,741 |
|
|
|
|
|
|
|
Plant and equipment - at cost |
|
20,208,083 |
|
20,176,426 |
|
Less: Accumulated depreciation |
|
(18,826,754) |
|
(18,511,018) |
|
|
|
1,381,329 |
|
1,665,408 |
|
|
|
|
|
|
|
Capital works in progress |
|
94,286 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,507,612 |
|
1,699,718 |
|
|
|
|
|
|
|
Total property, plant and equipment |
|
20,879,139 |
|
20,751,597 |
|
Total accumulated depreciation |
|
(19,371,527) |
|
(19,051,879) |
|
|
|
|
|
|
|
Total net book amount |
|
1,507,612 |
|
1,699,718 |
Note 14. Non-current assets - intangible assets
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Intangible asset – at cost |
|
182,069 |
|
149,715 |
Note 15. Non-current assets – right-of-use assets
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Land and buildings - right-of-use |
|
3,407,991 |
|
3,407,991 |
|
Less: Accumulated amortisation |
|
(2,223,410) |
|
(1,892,830) |
|
|
|
|
|
|
|
|
|
1,184,581 |
|
1,515,161 |
Note 16. Non-current assets - other
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Rental bond |
|
307,360 |
|
204,808 |
Note 17. Current liabilities - trade and other payables
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Trade payables |
|
813,334 |
|
942,138 |
|
Other payables |
|
264,766 |
|
355,210 |
|
|
|
|
|
|
|
|
|
1,078,100 |
|
1,297,348 |
Note 18. Current liabilities - lease liabilities
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Lease liability - current |
|
340,813 |
|
442,561 |
|
Lease liability - non - current |
|
1,102,566 |
|
1,300,036 |
|
|
|
1,443,379 |
|
1,742,597 |
Note 19. Employee benefit obligations
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
Current |
|
|
|
|
|
Annual leave |
|
287,497 |
|
306,176 |
|
Long service leave |
|
97,779 |
|
160,387 |
|
|
|
|
|
|
|
|
|
385,276 |
|
466,563 |
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
Non-Current |
|
|
|
|
|
Long service leave |
|
76,159 |
|
63,102 |
Note 20. Non-current liabilities - Provisions
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Make good provision |
|
785,863 |
|
785,863 |
Note 21. Equity - Contributed Equity
|
|
|
2026 |
2025 |
|
(a) Share capital |
|
Number of shares |
Number of shares |
|
|
|
|
|
|
Fully paid ordinary shares (no par value) |
|
5,797,326,778 |
5,775,571,289 |
|
|
|
|
|
Note 22. Equity - Reserves and accumulated losses
(a) Reserves
|
|
|
2026 |
|
2025 |
|
|
|
$ |
|
$ |
|
|
|
|
|
|
|
Foreign currency reserve |
|
(459,601) |
|
(458,855) |
|
Share-based payments reserve |
|
9,302,098 |
|
9,131,952 |
|
|
|
|
|
|
|
|
|
8,842,497 |
|
8,673,097 |
b) Accumulated losses
|
|
|
2026 |
|
2025 |
|
Movements in accumulated losses were as follows: |
|
$ |
|
$ |
|
|
|
|
|
|
|
Balance 1 July |
|
(130,811,206) |
|
(126,885,284) |
|
Net (loss) for the year |
|
(2,815,870) |
|
(3,925,922) |
|
|
|
|
|
|
|
Balance 30 June |
|
(133,627,076) |
|
(130,811,206) |
Note 32. Earnings per share
Earnings per share for (loss) attributable to the ordinary equity holders of the Group.
|
|
|
2026 Cents |
|
2025 Cents |
|
|
|
|
|
|
|
(a) Basic earnings per share |
|
|
|
|
|
(Loss) attributable to the ordinary equity holders of the Company |
|
(0.05) |
|
(0.08) |
|
|
|
|
|
|
|
(b) Diluted earnings per share |
|
|
|
|
|
(Loss) attributable to the ordinary equity holders of the Company |
|
(0.05) |
|
(0.08) |
|
(c) Weighted average number of shares used as the denominator |
|
|
|
|
|
Weighted average number of ordinary shares used as the denominator in calculating basic earnings per share |
|
5,794,598,175 |
|
4,774,041,692 |
|
Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted earnings per share |
|
5,794,598,175 |
|
4,774,041,692 |
Options are considered to be potential ordinary shares. The options are not included in the calculation of diluted earnings per share because they are anti-dilutive. These options could potentially dilute basic earnings per share in the future.
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