MetaOptics Ltd reported a net loss of S$4.03 million for the half-year ended Jun 30, 2026, widening 118% year-on-year as steeper administrative, research and marketing expenses eclipsed a jump in sales.
Revenue more than quadrupled to S$621,247, while basic loss per share deepened to 1.66 Singapore cents from 0.91 cent a year earlier. The board did not declare an interim dividend.
By activity, equipment sales to a Taiwanese customer generated S$446,883, accounting for 72% of total revenue. Sales of metalens products contributed S$158,160, mainly to customers in Taiwan, China and Singapore, and service income added S$16,204. The gross margin shrank to 26.1% from 44.6% as equipment carries lower profitability than product and service sales.
Operating costs expanded sharply. Administrative expenses rose 163% to S$2.88 million, reflecting professional fees tied to the company’s proposed Nasdaq dual listing and ongoing SGX compliance, along with higher audit and directors’ fees. Research and development outlays climbed 48% to S$0.94 million on increased prototype spending and headcount, while selling and marketing costs surged nearly seven-fold to S$0.32 million due to heavier tradeshow participation. Finance expenses were steady at about S$0.10 million, largely from the unwinding of interest on a shareholder loan.
Cash used in operations totalled S$3.27 million, up from S$1.39 million a year earlier, leading to a reduction in cash and bank balances to S$5.53 million at end-June from S$8.79 million at end-December. The group’s working-capital surplus narrowed to S$5.01 million.
Strategically, MetaOptics is directing IPO and placement proceeds to product development and potential partnerships, and continues preparations for a secondary listing on Nasdaq. Management flagged demand for compact optical components in AR/VR, 3D sensing and imaging as supportive for the metalens industry, but cautioned that revenue will hinge on the pace of customer equipment orders and broader semiconductor capital-expenditure trends over the next 12 months.