Nanoco’s FY25 results were in line with expectations, with revenues from products and service of £1.3m, net cash of £14.0m and gross annual cash costs of £6m. The company continues to advance and diversify its opportunities in sensing. In particular, phase two of the joint development agreement (JDA) with the company’s first Asian partner is focused on achieving volume production readiness. The CDX Advisors review is nearing conclusion, with results expected to be announced after year-end, while the LG litigation is ongoing.

Nanoco’s trading update indicates that the business is making encouraging commercial progress since Dmitry Shashkov took over as CEO in October 2024. If all goes to plan, this should result in further commercial agreements with existing and new customers and applications in H225. Meanwhile, cash burn remains well under control, with net cash of £14.0m at period end versus £15.2m at the interims.