Cash comfort20 Feb 2025 10:10
Cash is now 80% of the full market value
Record order intake greater than £110 million due to the signing of two new manufacturing partners and an electrolyser system partner.
· Revenue will be at the upper end of previous guidance, between £55-60 million (2023: £22.3 million), an increase of approximately 150% compared to 2023.
· Gross margin for the year is expected to be between 78-80% (2023: 61%).
· Business restructuring and cost optimisation completed in the autumn will reduce the annualised cost base by approximately 15% going forward.
· Cash and short-term investments were approximately £102 million as at 31 December 2024 (2023: £140 million), in line with expectations.