London · Delayed Price · Currency is GBP · Price in GBX Ceres Power Holdings Earnings Call Transcripts
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%.