NOVONIX reported FY 2025 revenue of USD 5.6 million (down 5.1%) and a net loss of USD 92.7 million. Loss before income tax was USD 92.7 million. Key P&L items included product manufacturing and operating costs of USD 2.5 million, administrative and other expenses of USD 22.2 million, R&D costs of USD 5.7 million, employee benefits expense of USD 24.0 million, borrowing costs of USD 11.9 million, and other income (net) of USD 4.8 million. NOVONIX recorded a USD 32.9 million loss on extinguishment of convertible notes tied to the conversion of Yorkville convertible notes, and a USD 7.3 million impairment of property, plant and equipment; it also reported a USD 5.1 million gain on the fair value of derivative financial instruments and a foreign currency gain of USD 1.8 million. Cash and cash equivalents were USD 79.9 million at Dec. 31, 2025. FY 2025 net cash outflow from operating activities was USD 42.2 million, net cash outflow from investing activities was USD 32.9 million, and net cash inflow from financing activities was USD 109.9 million. On the business side, NOVONIX said it continues to scale its synthetic graphite anode materials operations and, as of the report date, had not generated revenue from synthetic graphite sales. The company highlighted ongoing equipment receipt, installation and commissioning at its Riverside facility to support a planned start of production for Panasonic Energy in late 2027. It also disclosed it claimed USD 23.1 million from its USD 100.0 million DOE CMEI grant during FY 2025, bringing total claimed to date to USD 42.3 million. NOVONIX completed the full USD 100.0 million Yorkville multi-tranche convertible debenture funding commitment in October 2025, and noted that after Dec. 31, 2025 it entered a binding term sheet for the proposed sale of its Battery Technology Solutions segment as it shifts focus to a vertically integrated synthetic graphite supply chain in North America.

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