---
title: "Amaero’s first-half revenue surges as losses widen amid capacity build-out"
url: https://www.voxelmatters.com/amaeros-first-half-revenue-surges-as-losses-widen-amid-capacity-build-out/
date: 2026-02-19
modified: 2026-02-17
lang: en
author: "Davide Sher"
description: "Amaero Ltd reported revenue of A$7.76 million ($5.49 million) for the half-year ended Dec. 31, 2025, up 367% from A$1.66 million a year earlier. The company attributes the increase to..."
categories:
  - "Advanced Materials"
  - "AM Powders"
  - "Financial Reports"
  - "Materials"
  - "Metals"
  - "Money & Funding"
  - "Refractory Metals"
image: https://www.voxelmatters.com/wp-content/uploads/2026/02/AMAERO_Refractory-Powders-640x427.jpg
word_count: 300
---

# Amaero’s first-half revenue surges as losses widen amid capacity build-out

[Amaero Ltd](https://www.voxelmatters.directory/company/amaero/) reported revenue of A$7.76 million ($5.49 million) for the half-year ended Dec. 31, 2025, up 367% from A$1.66 million a year earlier. The company attributes the increase to higher sales of refractory and titanium alloy powders and to manufacturing services using its powder metallurgy hot isostatic pressing (PM-HIP) process.

![Discover the details behind the latest AMAERO revenue results, including widening loss, capital raise successes, and a revenue surge](https://www.voxelmatters.com/wp-content/uploads/2026/02/AMAERO_1717150337-normal-Refractory-alloy-powder.jpg)

Amaero also completed a A$50 million ($35.36 million) capital raise via a placement and share purchase plan, issuing more than 126 million shares at A$0.40 ($0.28) each. Cash at period end was A$47.6 million ($33.66 million), up from A$19.2 million ($13.58 million) six months earlier.

In spite of growing revenue, the company posted a loss after tax of A$15.35 million ($10.86 million), compared with a loss of A$11.09 million a year earlier, which it links to spending on capacity expansion, research and development, and commercialization.

Amaero also drew A$17.6 million ($12.45 million) under an EXIM Bank facility, with drawdowns timed to capital expenditure payments. The company says the funding supports equipment and infrastructure tied to production scale-up, including commissioning work for a fourth EIGA Premium atomizer and an argon recycling plant.

The company secured exclusive five-year supplier and development agreements with Titomic and Knust-Godwin, and the Titomic relationship has produced an A$4.6 million ($3.25 million) refractory powder purchase order. It also cites a letter of support from the U.S. Navy endorsing PM-HIP as a technically mature alternative to casting and forging for certain applications, positioning the process for qualification in defense and aerospace applications.

In January 2026, Amaero lowered its FY2026 revenue guidance to A$18 million to A$20 million ($12.73 million to $14.14 million) from A$30 million to A$35 million ($21.22 million to $24.75 million), citing timing delays in contract awards and revenue recognition tied to U.S. Uncertainty in government funding and a temporary federal shutdown exacerbated the situation.