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RNS Number : 1962R  CAP-XX Limited  02 February 2026

2 February 2026

 

CAP-XX Limited

("CAP-XX" or "the Company")

 

Unaudited interim results for the period ended 31 Dec 2025

 

CAP-XX Limited (AIM: CPX), a world leader in the design and manufacture of
thin, prismatic supercapacitors and energy management systems, is pleased to
announce its unaudited interim results for the period ended 31 Dec 2025.

 

Unaudited interim results for the period ended 31 Dec 2025 ("H1 FY26"):

 

·      Total revenue of A$2.6m (H1 FY25: A$2.4m), an increase of 9%.

·      Bookings of A$3.4m (H1 FY25: A$2.6m), an increase YoY of 31%.

·      Billings of A$2.6m (H1 FY25: A$2.3m), an increase YoY of 14%.

·      Backlog of A$2.8m (H1 FY25: A$1.2m), an increase YoY of 132%.

·      Loss after tax of A$1.5m (H1 FY25: A$1.7m), an improvement of 9%.

·      EBITDA loss of A$1.1m (H1 FY25: A$1.2m), an improvement of 7%.

·      Cash at bank on 31 Dec 2025 was A$2.9m (H1 FY25: A$4.2m).

·      Trade debtors exceeded trade creditors by A$0.3m.

·      The company is debt-free.

·      Strong operational improvements, including the integration of
Datapel WMS & Pipeliner CRM with MYOB.

CAP-XX CEO Lars Stegmann commented: "In the first half of FY26 we made solid
progress focusing on operations and execution. While the 9% revenue increase
shows steady growth the real story lies in the 31% surge in bookings and our
significant A$2.8m order backlog which we are currently delivering. This is a
clear signal that we are experiencing strong market pull.

By integrating Datapel and Pipeliner directly into our MYOB core, we've
eliminated the operational silos that slow down most technology companies.
This makes us more effective at turning sales into sustainable revenue.

Our entire operational focus is directed towards becoming cash flow positive.
Every operational improvement and efficiency gain that we implemented in the
period is a deliberate step towards this milestone. We are running a lean,
debt-free company that currently maintains a healthy cash runway and a strong
orderbook."

 

 

 

For further information, please contact:

 

CAP-XX Limited

 

Dr Graham Cooley
(Chairman)
+61 (2) 9157 0000

 

Lars Stegmann (Chief Executive Officer)

 

Allenby Capital (Nominated Adviser and Broker)

 

David Hart/Piers Shimwell (Corporate Finance)
                                    +44 (0)
20 3328 5656

 

Jos Pinnington/Tony Quirke (Sales and Corporate Broking)

 

 

 

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
(http://www.cap-xx.com)

 

 

CAP-XX Limited

31 December 2025

 

 

Business Review

 

Review of Operations and Activities

 

During the half-year ended 31 December 2025 ("H1 FY26"), CAP-XX Limited
accelerated its transformation into a more disciplined, transparent, and
scalable enterprise. The Group remained firmly focused on advancing its core
supercapacitor technology platform while materially enhancing execution across
manufacturing, inventory optimisation, and financial governance to support
sustainable long-term growth.

 

Operational performance and systems enhancement

 

In recent years, CAP-XX has invested in the implementation and integration of
enhanced enterprise systems across its operations, including warehouse
management, customer relationship management and accounting platforms. These
systems are now fully embedded across the Group's manufacturing and
supply-chain activities and provide management with significantly improved
transparency and real-time visibility over production throughput, inventory
levels, and financial performance.

 

The enhanced systems environment enables the Group to more efficiently monitor
stock positions, review production yields, and accurately determine inventory
requirements across its manufacturing footprint. This improved visibility has
supported more informed decision-making, reduced manual intervention, and
strengthened internal controls across production planning and procurement.

 

As a result, the Group has achieved improvements in cost allocation accuracy,
with clearer attribution of manufacturing, logistics and overhead costs across
products and projects. These improvements are contributing to better cost
discipline, enhanced margin analysis, and more reliable financial reporting,
positioning CAP-XX to support future growth as sales volumes scale.

 

Commercial activity

 

Revenues for H1 FY26 increased to A$2.63 million (H1 FY25: A$2.42 million)
reflecting continued demand for the Group's supercapacitor products despite
challenging global market conditions.

 

During the half-year, the Group continued to build momentum with its global
distribution partners and strategic customers, with some of these
relationships only commencing in H1 FY25. The breadth and progress with these
partners and customers have driven significant progress in CAP-XX's bookings
and backlog which will convert into enhanced revenues in due course. The
strengthened operational platform supports the Company's ability to service
customers efficiently while maintaining quality and delivery standards.

 

Financial performance

 

The Group recorded a net loss after tax of A$1.53 million for H1 FY26 (H1
FY25: loss of A$1.69 million). EBITDA loss improved to A$1.13 million (H1
FY25: loss of A$1.21 million), reflecting tighter cost control and benefits
from improved operational efficiency.

 

The balance sheet remains sound, with cash and cash equivalents of A$2.92
million at period end. The Board continues to closely monitor liquidity and
expenditure, ensuring capital is deployed prudently to support operational
priorities and growth initiatives.

 

 

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 is
tabled below:

 EBITDA Calculation                             Consolidated
                                                Half Year FY26     Half Year FY25

                                                6 months ended     6 months ended

                                                31 December 2025   31 December 2024
                                                A$                 A$
 Loss attributable to owners of CAP-XX Limited  (1,534,882)        (1,691,504)
 Depreciation / Amortisation                    332,376            360,741
 Interest Expense                               104,552            140,666
 Interest Income                                (29,962)           (22,019)
                                                (1,127,916)        (1,212,116)

 EBITDA

 

Note - Certain financial information in the Business Review section of this
report references Earnings Before Interest, Tax, Depreciation and Amortisation
(EBITDA) which have been derived from the unaudited financial statements.
EBITDA positions are non-IFRS financial information used by the Directors and
Management to assess the underlying performance of the business.

Outlook

 

Over the last six half year periods, revenues at CAP-XX have improved and
losses reduced. The Group enters the second half of FY26 with a further
strengthened operational foundation, underpinned by improved systems, enhanced
production visibility, and more robust financial controls. The Board remains
focused on leveraging this platform to drive further efficiency gains, improve
margins, and convert the growing commercial pipeline into sustainable revenue
growth.

 

 

 

 

CAP-XX Limited

Consolidated statement of profit or loss and other comprehensive income

For the half-year ended 31 December 2025

                                                                                                          Consolidated
                                                                                     Half-year 2026               Half-year 2025
 Currency: Australian Dollars                                                        $                            $

 Revenue from contracts with customers                                               2,634,395                    2,416,946
 Cost of sales                                                                       (1,868,174)                  (1,570,860)
 Gross Profit                                                                        766,221                      846,086

 Other income                                                                        937,639                      1,111,030
 Interest income                                                                     29,962                       22,019

 Process and engineering expenses                                                    (648,958)                    (1,135,336)
 Research and development expenses                                                   (660,491)                    (598,242)
 Other expenses                                                                      (34,706)                     -
 Finance costs                                                                       (104,552)                    (140,666)
 Selling and marketing expenses                                                      (398,757)                    (302,827)
 General and administrative expenses                                                 (1,421,240)                  (1,493,569)

 Loss before income tax                                                              (1,534,882)                  (1,691,504)

 Income tax benefit                                                                  -                            -

 Net loss after income tax for half year                                             (1,534,882)                  (1,691,504)

 Loss attributable to owners of CAP-XX Limited                                       (1,534,882)                  (1,691,504)

 Items that may be reclassified subsequently to profit or loss
 Exchange difference on translation of foreign operations                            (36,472)                     (83,480)
 Other comprehensive income / (loss)

                                                                                     (36,472)                     (83,480)

 Total comprehensive income / (loss) for the half year end attributable to
 owners of CAP-XX Limited

                                                                                     (1,571,354)                  (1,774,984)

 Earnings per share for loss attributable to the ordinary equity holders of the      Cents                        Cents
 Company
 Basic loss per share                                                                (0.027)                      (0.051)
 Diluted loss per share                                                              (0.027)                      (0.051)

 

 

 

 

 

CAP-XX Limited

Consolidated statement of financial position

As at 31 December 2025

                                    As at          As at          As at

                                    31 December    30 June        31 December 2024

                                     2025           2025          (Unaudited)

                                    (Unaudited)    (Audited)
 Currency: Australian Dollars       $              $              $

 ASSETS
 Current assets
 Cash and cash equivalents          2,917,503      3,956,163      4,162,022
 Receivables                        1,941,538      2,471,775      3,521,117
 Inventories                        877,788        991,017        1,701,556
 Other                              38,681         65,937         123,354
 Total current assets               5,775,510      7,484,892      9,508,049

 Non-current assets
 Property, plant and equipment      1,557,216      1,699,718      1,855,872
 Intangibles                        154,820        149,715        -
 Right of use assets                1,349,871      1,515,161      1,680,452
 Other                              204,808        204,808        204,808
 Total non-current assets           3,266,715      3,569,402      3,741,132

 TOTAL ASSETS                       9,042,225      11,054,294     13,249,181

 LIABILITIES
 Current liabilities
 Payables                           826,159        1,297,348      1,495,420
 Lease liabilities                  449,117        442,561        279,872
 Provisions                         318,906        466,563        431,406
 Total current liabilities          1,594,182      2,206,472      2,206,698

 Non-current liabilities
 Lease liabilities                  1,149,900      1,300,036      1,599,018
 Provisions                         994,111        848,965        833,405
 Total non-current liabilities      2,144,011      2,149,001      2,432,423

 TOTAL LIABILITIES                  3,738,193      4,355,473      4,639,121

 NET ASSETS                         5,304,032      6,698,821      8,610,060

 EQUITY
 Contributed equity                 128,933,205    128,836,930    128,583,960
 Reserves                           8,716,915      8,673,097      8,446,643
 Accumulated losses                 (132,346,088)  (130,811,206)  (128,420,543)
                                    5,304,032      6,698,821      8,610,060

 TOTAL EQUITY

 

 

 

 

 

CAP-XX Limited

Consolidated statement of changes in equity

For the half-year ended 31 December 2025

                                                                  Consolidated
 Currency: Australian Dollars                                     Contributed Equity  Reserves    Accumulated Losses  Total
                                                                  $                   $           $                   $

 Balance at 1 July 2024                                           122,900,813         8,437,602   (126,729,039)       4,609,376

 Prior period error                                               -                   -           (156,245)           (156,245)

 Restated balance at 1 July 2024                                  122,900,813         8,437,602   (126.885.284)       4,453,131

 Loss for the year as reported in the 2024 financial statements   -                   -           (3,925,922)         (3,925,922)

 Other comprehensive loss                                         -                   (56,640)    -                   (56,640)

 Transactions with owners in their capacity as owners:

 Contributions of equity, net of transaction costs and tax

                                                                  5,830,284           -           -                   5,830,284

 Share warrants exercised

 Employee share options - value of employee services              105,833             (105,833)   -                   -

                                                                  -                   397,968     -                   397,968

 Balance at 30 June 2025                                          128,836,930         8,673,097   (130,811,206)       6,698,821

 Loss for the year as reported in the 2025 financial statements   -                   -           (1,534,882)         (1,534,882)

 Other comprehensive loss                                         -                   (36,472)    -                   (36,472)

 Transactions with owners in their capacity as owners:

 Contributions of equity, net of transaction costs and tax

 Employee share options - value of employee services              96,275              -           -                   96,275

                                                                  -                   80,290      -                   80,290

 Balance at 31 December 2025                                      128,933,205         8,716,915   (132,346,088)       5,304,032

 

 

 

 

CAP-XX Limited

Consolidated statement of cash flows

For the half-year ended 31 December 2025

                                                                                  Consolidated

                                                                                  Half-year 2026  Half-year 2025
 Currency: Australian Dollars                                                     $               $

 Cash flows from operating activities
 Receipts from customers (inclusive of goods and services tax)                    2,419,873       2,434,242
                                                                                  (5,146,410)       (4,766,678)

 Payments to suppliers and employees (inclusive of goods and services tax)
                                                                                  (2,726,537)     (2,332,436)
                                                                                  1,749,696       -

 R&D Tax incentive received
 Interest paid                                                                    (74,590)        (184,840)
 Interest received                                                                29,962          22,019
 Net cash (outflow) from operating activities                                     (1,021,469)               (2,495,257)

 Cash flows from investing activities
 Payments for property, plant and equipment (net)                                 (24,585)        (6,110)
 Payments for intangibles                                                         (5,105)         -
 Net cash (outflow) from investing activities                                     (29,690)        (6,110)

 Cash flows from financing activities
 Proceeds from issue of shares                                                    192,550         6,173,993
 Costs associated with the issue of shares                                        -               (490,846)
 Proceeds from borrowings                                                         -               812,370
 Repayment of borrowings                                                          -               (1,536,370)
 Principal repayments for lease liabilities                                       (143,579)       (129,273)
 Net cash inflow / (outflow) from financing activities                            48,971          4,829,974

 Net increase / (decrease) in cash and cash equivalents                           (1,002,188)     2,328,507
 Cash and cash equivalents at the beginning of the financial period               3,956,163       1,916,995

                                                                                  (36,472)        (83,480)

 Effects of exchange rate changes on cash and cash equivalents
 Cash and cash equivalents at the end of the financial period                     2,917,503       4,162,022

 

 

This general purpose interim financial report, for the half-year reporting
period ended 31 December 2025, has been prepared in accordance with Australian
equivalents to International Financial Reporting Standards (AIFRSs), other
authoritative pronouncements of the Australian Accounting Standards Board,
Urgent Issues Group Interpretations and the Corporations Act 2001. This
general purpose interim financial report, for the half-year reporting period
ended 31 December 2025, is unaudited.

 

 

 

 

 

 

 

 

 

 

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