Weebit Nano shares as the ASX 300 tech company holds its 2024 investor presentation. They are down 2%. Now, the semiconductor market is expected to reach $1 trillion in value by 2030, and Weebit Nano says it remains focused on expanding its ReRAM technology and securing new partnerships. Let's get all the details now with CEO Coby Hanoch, who is in Sydney. Coby, you've got your investor update today. Tell us, how you're faring at Weebit Nano as we kickstart for year 2025.
Yeah. Hi. Yeah, this is really a very exciting time for Weebit. We're working hard on getting another commercial agreement done. We actually have a lot of things in parallel right now with many key players in the industry, and we're really focused on getting that at least one agreement signed before the end of this calendar year. So there's a big focus on that. In general, the market is really realizing that ReRAM is the future non-volatile memory technology. Weebit is the only independent supplier in the market. So there are only other two companies that have it that are keeping their technology for themselves. They're not giving it to anyone else.
And so Weebit, right now, is engaged with, I would say more than 20 companies, manufacturers and product companies, et cetera, and we're moving forward.
Moving forward, now, we mentioned that the semiconductor industry expected to be worth $1 trillion by 2030.
Mm-hmm.
Tell us how you play into that and how much of that market you're hoping to capture?
So semiconductors are really, you know, the biggest and most important and strategic market today in the world. You know, eight out of the top 10 market cap companies in the world today are semiconductor companies. And, you know, anything that you touch today is semiconductors. Now, in the semiconductor space, memory is one of the top two segments. Basically, if you think about it, any electronic device needs memory to operate. You want to store the data, you want to store the videos, you want to store security keys, et cetera, et cetera. We are focused on what's called a non-volatile memory, a memory that doesn't lose the data even when you unplug it from power.
And if you think about it, basically any electronic device in the world, when you turn it on the first time, there's that magical moment, and you expect to have some software and data there that's gonna be running, and that's basically the non-volatile memory. So, this is a big market. The total non-volatile memory market is expected to reach more than $150 billion, almost $200 billion, in the near term. We're focused now on a segment of that that's called embedded, but still, you know, the potential here is very big, and we're very confident about our technology and moving forward.
When we look at where you are now versus this time last year, Coby, more than AUD 1 million in revenue received. You've added Ohana, as well, and the two new commercial deals. Just talk us through the future expansion, particularly as you're extending it to your China ecosystem, too.
So, you know, semiconductors, and I know this is one of the things that's most difficult for Australian investors to understand. This is a very, very difficult market, a very complex one. Manufacturing semiconductors is something that is really hard to explain just how complex it is. You know, the facilities where you manufacture semiconductors, they're called fabs, and they cost more than $1 billion to set up even the simple ones. The more advanced ones are tens of billions of dollars to set up. So, you know, this is a very difficult market. Now, we're working now with these manufacturers. The process of getting them on board is a very long one.
So in this past year, I know there's a certain level of frustration of the shareholders that the last deal that we announced was a year ago, and we haven't announced any new deals since then. We are actually engaged with a lot of companies. We're evaluating, negotiating, et cetera. And as I said, we expect to even get at least one of those. We have several in negotiation right now, and we expect to close one of those even before the end of this calendar year. So that's really the big focus. You know, regarding China, China is an important semiconductor market. In the past, we had a big focus on China. Because of the geopolitical tensions, we lowered that focus.
We're still working there, and we do expect to have customers in China as well, but right now, our big focus is on US, European, you know, Korean, et cetera, East Asia, companies.
Now, you mentioned maybe investors here are not really fully understanding what you're doing. Certainly, when you look at your share price, down 60% so far this year and at a three-year low. Of course, a lot of calls out there, whether it's the right time to buy or not, but what do you say when analysts say that they're worried about your cash burn?
First of all, you know, the last report that we issued, we still didn't issue this quarter report, but the annual report showed that we had at the time $63 million in the bank. The burn last year was $25 million, so you do the math quickly, and you can see we have money for more than two years. So it's not that Weebit right now is in a cash strain. We will get these deals done. We will be moving forward, and I don't think there's any concern right now on cash for Weebit.