London · Delayed Price · Currency is GBP · Price in GBX Ceres Power Holdings Earnings Call Transcripts
Fiscal Year 2026
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H1 2026 saw strong progress with half-year revenue on track, reduced losses, and a robust cash position after a major equity raise. The partner pipeline is healthy, with new and existing partners scaling up, and the Ceres Endura platform now central to growth. Royalties are expected to rise as partners reach commercial scale.
Fiscal Year 2025
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Strong global partner progress, first royalty revenues, and a robust cash position highlight a pivotal year. Cost savings and a new single stack platform support commercialization, with royalties expected to scale from 2027.
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Major milestones include Doosan's mass production start, strong partner progress, and a shift to commercialization with high gross margins and a robust cash position. A business transformation aims to cut costs by 20% and focus on power market opportunities, especially for data centers.
Fiscal Year 2024
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Record revenue, order intake, and gross margin were achieved, driven by new licensing deals in Asia and a strong cash position. The business expects stable revenue in 2025, with first royalties from Doosan and continued cost discipline, despite Bosch's exit.
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Record interim results with revenue up 144% and gross profit up over 200% year-over-year, driven by new global licensing agreements and strong order intake. Cost base is being optimized, with full-year revenue guidance reaffirmed at £50–60 million and gross margin expected at 75–80%.