MetaOptics Ltd has reported a sharply wider net loss of S$5.45 million for the twelve months ended 31 Dec 2025, compared with a loss of S$1.95 million a year earlier, as higher operating and listing-related expenses outpaced a near nine-fold jump in revenue.
The optical-components maker’s top line expanded 891 per cent year-on-year (YoY) to S$787,388, buoyed by the first significant shipment of a direct laser writer (DLW) system and stronger demand for metalens products and installation services. Basic and diluted loss per share widened to 2.54 Singapore cents from 1.01 cents. The board has not proposed a dividend, in line with its decision to conserve cash while the group remains loss-making.
Although gross profit rose more than five-fold to S$159,826, gross margin narrowed to 20.3 per cent (FY2024: 33.4 per cent) due to the lower margin profile of DLW equipment sales relative to product and service revenues. Administrative expenses more than quadrupled to S$3.68 million, largely reflecting professional and compliance costs linked to the company’s September 2025 Catalist initial public offering. Research and development (R&D) spending climbed 79 per cent to S$1.86 million on new product initiatives, while selling and marketing costs jumped 316 per cent to S$0.20 million following intensified promotional activities.
Finance expenses ballooned to S$0.18 million from S$1,844 previously, as the company began booking deemed interest on a shareholder loan that is repayable between 2027 and 2029 at an effective rate of 9.1 per cent. Coupled with the rise in operating overheads, these factors outweighed the uplift in sales and resulted in the wider bottom-line deficit.
On the balance-sheet front, cash and cash equivalents swelled to S$8.79 million at end-December, from S$0.96 million a year earlier, driven by S$10.8 million in gross proceeds from the IPO and a S$4.85 million private placement in December. The fresh funds lifted net assets to S$10.05 million (31 Dec 2024: S$3.10 million) and strengthened working capital to S$8.55 million.
Looking ahead, the group said demand for compact optical components in augmented/virtual-reality, 3D sensing and imaging markets underpins industry growth, although order timing and semiconductor capital-expenditure cycles could influence near-term performance. Management intends to channel IPO and placement proceeds into product development, R&D, strategic partnerships and general working capital, retaining S$1.47 million and S$4.80 million respectively for these purposes as at 27 Feb 2026.