Titomic (ASX: $TTT) FY24 Highlights

Titomic Limited (ASX: $TTT) has reported a 51% increase in total revenue to $4.2m achieved in the first half of FY24. The company also disclosed a 59% rise in customer sales receipts to $2.3m and received 75 orders from customers. Notably, there has been a significant improvement in the statutory net loss after tax to $5.9m, marking a 39% improvement in underlying operating loss compared to the same period last year.

Executive Commentary on FY24 Highlights

The company's Managing Director, Herbert Koeck, and Chief Financial Officer, Jon Nield, highlighted the significant progress made in revenue growth and project completion during the first half of FY24. They emphasized the ongoing commercialization efforts and the strong revenue disclosed since the beginning of the calendar year. Koeck and Nield also expressed confidence in the completion of large projects underway and the expectation of ongoing and new orders in the current fiscal year.

Summary of FY24 Highlights and Outlook

Titomic's focus on revenue growth, project completion, and strategic discipline in FY24 has resulted in a notable increase in total revenue and customer sales receipts. The company's efforts to diversify its customer base and maintain strategic discipline have contributed to the improvement in underlying operating loss. Looking ahead, Titomic aims to continue its commercialization efforts, complete ongoing projects, and expand its operations in both European and U.S. markets. With a strong leadership team and a unique manufacturing and coatings capabilities utilizing Titomic Kinetic Fusion, the company is well-positioned to capitalize on its core capabilities and drive future growth.