6K Additive, Inc. (ASX: 6KA) (6K Additive or the Company) is pleased to release its Appendix 4C and quarterly activities report for the period ended 31 December 2025.
Highlights
- Revenue in the fourth quarter of 2025 (Q4 2025) was US$5.6M, representing an increase of more than 25%, compared to the third quarter of 2025 (Q3 2025). Revenue in the second half of 2025 (H2 2025) totaled US$10.0M, an increase of 31% compared to the first half of 2025 (H1 2025) US$7.7M, reflecting continued commercial traction and execution of our scale-up efforts.
- 6K Additive completed a well-supported Initial Public Offering, raising US$31.4M before costs, which we will utilize with the aim of increasing current production capacity by more than 5x.
- The Company was approved for a US$27.4M Export-Import Bank of the United States (EXIM) loan, supporting its Critical Minerals expansion in Pennsylvania. The financing, backed by the U.S. Department of War (DoW), provides flexibility to pursue additional growth initiatives beyond the current expansion plan.
- As of 31 December 2025, 6K Additive closed the quarter with a cash balance of US$29.5M, providing a solid foundation to support ongoing operations and growth initiatives. There have not been any draws on the EXIM loan and the balance sheet reflects no outstanding debt.
- 6K Additive experienced increased demand across a broader range of powder materials for production components. This included advanced and novel materials such as pure niobium, tungsten, tantalum/tungsten, niobium-based alloys and high-purity chromium.
- Quarter-over-quarter, nickel and titanium powder revenue increased by more than 200% and 100% respectively, driven by strong demand from aerospace, defense, and land-based turbine markets.
- 32% of Q4 2025 revenue was generated from powder products sold to new customers, highlighting continued market expansion and diversification of applications.
- The Company served 49 unique customers in Q4 2025 across multiple end markets, including space, defense, land-based turbines, vacuum interrupters, and medical applications.
- Over US$2M of CY 2026 orders were booked from a major U.S.-based aluminum producer (existing customer) and a new customer qualification from a new U.S.-based aluminum flat-roll producer.
- Initiated processing of titanium solids sourced from Fort Riley, Kansas, converting material into powder in support of the Defense Logistics Agency (DLA) domestic supply chain US$1.8M Small Business Innovation Research program, advancing secure U.S. sourcing.
- Nickel powder production at the Company’s Hayward, California facility achieved its highest productivity quarter to date in Q4 2025, with output increasing nearly 50% vs. the prior quarter.
- Completed preliminary design and architectural planning for the Defense Production Act (DPA) Title III capacity expansion, positioning the Company for scaled domestic production.
Statement from Frank Roberts, Managing Director and CEO of 6K Additive
“Following a strong Q4, we believe that 6K Additive is positioned for commercial acceleration in 2026. We are seeing steady demand for titanium and nickel, with an increase in demand for high-value refractory metals like C-103 and tungsten. Our market expansion is underscored by new customers contributing approximately 32% of Q4 revenue.
Our core competitive advantage remains the proprietary UniMelt® platform with manufacturing yields of 85-95%, significantly outperforming the industry standard of 30-50%. This efficiency is critical for high-cost materials and, combined with our status as a domestic supplier, secures our leadership in the Defense, Aerospace (hypersonics), and Energy sectors for land-based turbines and vacuum interrupters.
With a clear plan to reach expected profitability via our targeted 5x capacity increase (to reach 1,000 metric tons), and a strong capital position via IPO proceeds combined with the existing US$23.4M DPA Title III grant, we are primed to meet accelerating customer demands in the rapidly growing additive industry. Furthermore, leveraging EXIM funding provides the Company with financial flexibility to scale beyond our initial 1,000-metric-ton target. This positions the Company to potentially capture additional customer demand and extend our production capacity to meet future demand.”
2025 Fiscal Close: Capitalizing for Scale & Acceleration:
6K Additive executed a transformative close to 2025, successfully securing capital through two transactions. This funding creates a foundation for accelerated growth and operational scaling.
Strategic Capital Events:
Public Listing: Successfully completed an Initial Public Offering (IPO) on the ASX, raising US$31.4M (before costs) following a US$14.8M pre-IPO (before costs) in Q3 2025.
Strategic Debt Financing: Approved for a US$27.4M EXIM loan, backed by the US Department of War, validating the strategic importance of our technology to national security supply chains.
Operational Impact: The IPO and the previously announced US$23.4M DPA Title III grant provide the necessary capital structure to execute our expansion roadmap. We are now positioned to scale domestic production capacity five-fold, moving from 200 MT to a targeted 1,000 MT annually to meet accelerating demand. The EXIM loan provides more flexibility to potentially extend our capacity beyond 1,000 MT and capture additional customer demand. We remain disciplined and will only target expansion where it meets the Company’s strategic and financial goals.
Financial Performance:
Revenue Momentum: Revenue accelerated sequentially throughout 2025 with Q4 revenue of US$5.6M representing the strongest quarter of the year. 2H 2025 revenue of US$10.0M was up 31% from 1H 2025 revenue of US$7.7M driven by our ability to scale production and sales activity utilizing the capital raised in July. Full year revenue for 2025 finished at US$17.7M.
Liquidity: The Company enters the new fiscal year in a strong financial position, with a healthy balance sheet and US$29.5M in cash reserves. In addition, the Company still has US$14M remaining on the DPA Title III grant and has been approved for a US$27.4M EXIM loan.
6K Additive: Accelerating Market Leadership & Strategic Growth:
This quarter, 6K Additive capitalized on demand across key verticals, delivering solid growth in titanium and nickel-based alloys and establishing a strong position in pure chromium powder. By leveraging our domestic production capabilities and superior product quality, we successfully expanded market share and secured high-value wins with a growing roster of global Tier-1 and contract manufacturing partners.
Market Performance Highlights:
Defense: We achieved triple-digit growth in our core alloy portfolio (nickel and titanium), driven by accelerated funding from the US Government for additive manufacturing and suppressor production. 6K Additive’s scalable US-based production has become a critical competitive advantage, leading to:
- Nickel powder revenue increased 200+% in Q4 2025 vs. Q3 2025,
- Titanium powder revenue increased 100+% in Q4 2025 vs. Q3 2025
- Shipments of US$0.7M of Ti 6-4 alloy powder to a key contract manufacturer.
- US$0.3M in revenue generated from the Small Business Innovation Research program grant (US$1.8M in total). 6K Additive is working with the Defense Logistics Agency (DLA) to enhance recycling capabilities on both Niobium and Titanium alloys into high value powder for additive manufacturing. The program focus is to show U.S. supply chain strength by using 6K Additive’s process to convert US Government scrap into high performance powder that will be used in the production of defense parts.
- Active negotiation of multiple long-term agreements (LTAs), positioning 6K Additive as a preferred partner for both Military and Civil end-use applications.
Aerospace: Our materials are at the forefront of the Space and Hypersonic sectors, supplying mission-critical titanium, nickel, and pure chromium powders for production hardware and thermal spray applications.
- Our portfolio is strategically aligned to meet the industry’s urgent demand for high-temperature and lightweighting solutions.
Energy: The Energy sector proved to be a strong pillar of diversification, generating US$0.8M in revenue this quarter. Demand was driven by land-based turbines and vacuum interrupters, where we believe that 6K Additive holds a distinct competitive edge in the production of ultra-pure Chromium powder. Our sales channels have expanded to include direct engagement with global Energy OEMs and specialized contract manufacturers.
Alloy Additions: Q4 2025 saw a 31% increase in revenue over the prior quarter. This growth was supported by increasing demand across the aluminum industry. This demand is expected to continue as existing customers are placing 2026 orders, and we are capturing business that was previously held by Chinese suppliers.
- A US$1.9M revenue order from a major U.S.-based aluminum producer was booked during Q4 2025 for delivery throughout 2026.
- New Alloy business segment qualification achieved in Q4 2025 with a subsequent Q1 2026 order from a large U.S.-based aluminum flat-roll producer.
Sales Pipeline: Continued qualification of 6K Additive materials is rapidly expanding our Total Addressable Market (TAM) and strengthening our sales pipeline to a total of over US$250M annually.
Innovation & Future Frontiers: Refractory Leadership
6K Additive continues to define the future of high-performance materials, leveraging the proprietary UniMelt® technology to transform revert solids into premium powders (niobium, tungsten, tantalum, rhenium) with industry-leading yields.
- Secured US$0.3M in contracts to supply tantalum and tungsten alloys to US National Labs and European research organizations, seeding the market for future commercial adoption.
- Selected as a key partner for a DoW Government Project to convert niobium-based alloy solids into powder. The material was successfully produced and delivered within the quarter, validating our capability to support high-temperature applications for defense and Tier-1 OEMs.
Operational Excellence & Capacity Expansion
We closed the year with critical infrastructure and process improvements that have strengthened our manufacturing capabilities. From securing our supply chain to materially scaling production throughput, these investments have positioned the Company for sustained reliability and growth.
Infrastructure: We have successfully commissioned a dedicated raw material warehouse to support expanding operations. This state-of-the-art facility provides secure, climate-controlled storage for over 2,000 55-gallon drums allowing for improved logistics and production staging.
Production Scaling: The commissioning of a gas atomizer at the Company’s Hayward, California facility in 2025 has supported significant nickel powder production growth in Q4 2025. While H1 2025 focused on system calibration, H2 2025 realized this asset’s full potential.
- Production grew in the second half of the year, increasing over 400% compared to the first half of 2025, demonstrating successful ramp-up, optimization, and reliable scaling of atomization capacity by year-end.
By leveraging the new atomizer, we can now capture and repurpose off-size material as high-value raw feedstock for the proprietary UniMelt® process. This closed-loop system creates a sustainable production environment that maximizes material utilization and ensures:
- Environmental impact is minimized by virtually eliminating production waste through advanced material recovery.
- Supply chain resilience with a consistent, internal stream of raw material feedstock.
- Cost optimization by maximizing yield and reducing reliance on external virgin materials while maintaining premium output quality.
During the quarter we completed preliminary design and architectural planning for the Defense Production Act (DPA) Title III capacity expansion. Groundbreaking for this new facility will occur in Q1 2026 and will be the key facility that will help the organization reach its targeted 1,000 metric tons per annum capacity.
Quarterly Cash Flow
The attached Appendix 4C provides details on the cash flows for the quarter and full year ended 31 December 2025. The Company closed 2025 with US$29.5M in cash. Net cash used from operating activities for the quarter was US$5.2M driven by product manufacturing and operating costs of US$5.9M which included a US$2.6M investment in working capital which was used to accelerate our Q4 2025 sales growth and build inventory to support continued growth throughout 2026. Investments in inventory are expected to continue during the first half of 2026 to support growing customer demand as we consolidate operations and relocate our atomizer from Hayward, California to Burgettstown, Pennsylvania in the second half of 2026. Receipts from customers of US$3.9M in the quarter will increase in Q1 2026 with the sequential sales increase. Government grants of US$0.2M relate to reimbursement from the DPA Title III program. Cash used for investing activities of US$0.3M was primarily used towards warehouse construction.
The US$2.5M proceeds of related party borrowings were extinguished through a debt-for-equity conversion in Q4 2025.
As required by ASX Listing Rule 4.7C3, the Company notes that US$0.1M was paid to a related party (6K Inc) during the quarter for shared services.
Use of Funds Statement
6K Additive was admitted to the official list of the ASX on 4 December 2025, following the completion of its listing. The December quarter is included in a period covered by a use of funds statement in the replacement prospectus lodged with ASIC on 11 November 2025.
A comparison of the Company’s actual expenditures since admission on 4 December 2025 to 31 December 2025, against the estimated expenditures in the use of funds statement is set out below as required by ASX Lising Rule 4.7C.2. Because 6K Additive was admitted to the ASX on 4 December 2025, the reported period reflects less than one month of post‑listing operations while the Prospectus Total represents expected expenditures over a two-year period required to complete the capacity expansion. The Company progressed early-stage engineering, architectural design, and preparatory site work, but these activities resulted in limited cash outflows. Capital deployment remains fully aligned with the objectives and timelines set out in the Prospectus, with no changes to scope or intended allocation of funds.
| Use of Funds (US$ M) | Actual | Prospectus Total |
| Melt and Powder Expansion Buildings | – | 8.5 |
| Personnel/Engineering/Facilities | 0.1 | 4.4 |
| Equipment – Melt Furnaces | – | 6.0 |
| Equipment – Powder Feedstock/Other | – | 1.7 |
| Subtotal (DPA Title III Contribution) | 0.1 | 20.6 |
| Additional Equipment Purchases (Refractory) | – | 8.4 |
| Additional Building Construction Expenses (Refractory/consolidation) | 0.2 | 6.5 |
| Operating Expenses/Working Capital | 1.8 | 11.4 |
| IPO Related Fees | 2.7 | 2.2 |
| Total | 4.8 | 49.1 |
*Note: Amounts in the Prospectus were stated in Australian $ and have been converted at an exchange rate of AUD/USD of 0.65.
The remaining US$49.1M use of funds will be funded by the combination of cash on hand, the US$14M remaining on the DPA Title III grant and future cash generation.
This announcement has been authorised for release by the 6KA Board of Directors
— Ends —
For further information, e-mail; investors@6KAdditive.com:
Frank Roberts Bruce Bradshaw Raymond Gonzalez
CEO, Managing Director Chief Marketing Officer Investor Relations
About 6K Additive
6K Additive, Inc. (ASX:6KA) is a US-based manufacturer and trusted supplier of premium metal powders for additive manufacturing and alloy additions for the aluminum melt industry, all made from sustainable sources. Headquartered in Burgettstown, PA, the Company’s manufacturing process produces the highest quality metal powders that are truly spherical, void of porosity and satellites with better unit economics than competing technologies. 6K Additive utilizes proprietary UniMelt® microwave plasma system to produce the industry’s most comprehensive portfolio of metal powder including a variety of nickel, titanium, copper, and refractory powders that include, tungsten, rhenium, niobium/C-103 and tantalum. 6K Additive leverages feedstock such as certified turnings, millings, used additive powder, support material and failed builds that provide customers sustainable, domestically sourced metal powder. Visit us at www.6kAdditive.com.
Appendix 4C
Quarterly cash flow report for entities
subject to Listing Rule 4.7B
| Name of entity | ||
| 6K Additive, Inc | ||
| ABN | Quarter ended (“current quarter”) | |
| 692 243 646 | December 31, 2025 | |
| Consolidated statement of cash flows | Current quarter USD$’000 | Year to date (12 months) USD$’000 | ||
| 1. | Cash flows from operating activities | |||
| 1.1 | Receipts from customers | 3,913 | 16,601 | |
| 1.2 | Payments for | |||
| research and development | (292) | (1,110) | ||
| product manufacturing and operating costs | (5,915) | (18,496) | ||
| advertising and marketing | (121) | (581) | ||
| leased assets | (295) | (1,465) | ||
| staff costs | (1,778) | (8,376) | ||
| administration and corporate costs | (1,017) | (2,711) | ||
| 1.3 | Dividends received (see note 3) | |||
| 1.4 | Interest received | 55 | 80 | |
| 1.5 | Interest and other costs of finance paid | |||
| 1.6 | Income taxes paid | |||
| 1.7 | Government grants and tax incentives | 240 | 1,166 | |
| 1.8 | Other (provide details if material) | |||
| 1.9 | Net cash from / (used in) operating activities | (5,210) | (14,892) | |
| 2. | Cash flows from investing activities | |||
| 2.1 | Payments to acquire or for: | |||
| entities | ||||
| businesses | ||||
| property, plant and equipment | (306) | (2,420) | ||
| investments | ||||
| intellectual property | ||||
| other non-current assets | ||||
| 2.2 | Proceeds from disposal of: | |||
| entities | ||||
| businesses | ||||
| property, plant and equipment | ||||
| investments | ||||
| intellectual property | ||||
| other non-current assets | ||||
| 2.3 | Cash flows from loans to other entities | |||
| 2.4 | Dividends received (see note 3) | |||
| 2.5 | Government grants and tax incentives | – | 1,697 | |
| 2.6 | Net cash from / (used in) investing activities | (306) | (723) | |
3. | Cash flows from financing activities | |||
| 3.1 | Proceeds from issues of equity securities (excluding convertible debt securities) | 31,419 | 46,189 | |
| 3.2 | Proceeds from issue of convertible debt securities | |||
| 3.3 | Proceeds from exercise of options | |||
| 3.4 | Transaction costs related to issues of equity securities or convertible debt securities | (3,546) | (5,445) | |
| 3.5 | Proceeds from borrowings | 2,500 | ||
| 3.6 | Repayment of borrowings | |||
| 3.7 | Transaction costs related to loans and borrowings | |||
| 3.8 | Dividends paid | |||
| 3.9 | Other (provide details if material) | |||
| 3.10 | Net cash from / (used in) financing activities | 27,873 | 43,244 | |
| 4. | Net increase / (decrease) in cash and cash equivalents for the period | |||
| 4.1 | Cash and cash equivalents at beginning of period | 7,112 | 1,840 | |
| 4.2 | Net cash from / (used in) operating activities (item 1.9 above) | (5,210) | (14,892) | |
| 4.3 | Net cash from / (used in) investing activities (item 2.6 above) | (306) | (723) | |
| 4.4 | Net cash from / (used in) financing activities (item 3.10 above) | 27,873 | 43,244 | |
| 4.5 | Effect of movement in exchange rates on cash held | |||
| 4.6 | Cash and cash equivalents at end of period | 29,469 | 29,469 | |
| 5. | Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts | Current quarter USD$’000 | Previous quarter USD$’000 |
| 5.1 | Bank balances | 29,469 | 7,112 |
| 5.2 | Call deposits | ||
| 5.3 | Bank overdrafts | ||
| 5.4 | Other (provide details) | ||
| 5.5 | Cash and cash equivalents at end of quarter (should equal item 4.6 above) | 29,469 | 7,112 |
| 6. | Payments to related parties of the entity and their associates | Current quarter USD$’000 |
| 6.1 | Aggregate amount of payments to related parties and their associates included in item 1 | 142 |
| 6.2 | Aggregate amount of payments to related parties and their associates included in item 2 | |
| Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. | ||
| 7. | Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. | Total facility amount at quarter end USD$’000 | Amount drawn at quarter end USD$’000 |
| 7.1 | Loan facilities | ||
| 7.2 | Credit standby arrangements | ||
| 7.3 | Other (please specify) | ||
| 7.4 | Total financing facilities | ||
| 7.5 | Unused financing facilities available at quarter end | ||
| 7.6 | Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. | ||
| 6K Additive Inc. is currently in the process of finalizing loan documentation with EXIM bank on a $27.4M loan that was approved in Q4 2025. | |||
| 8. | Estimated cash available for future operating activities | USD$’000 |
| 8.1 | Net cash from / (used in) operating activities (item 1.9) | (5,210) |
| 8.2 | Cash and cash equivalents at quarter end (item 4.6) | 29,469 |
| 8.3 | Unused finance facilities available at quarter end (item 7.5) | – |
| 8.4 | Total available funding (item 8.2 + item 8.3) | 29,469 |
| 8.5 | Estimated quarters of funding available (item 8.4 divided by item 8.1) | 5.6 |
| Note: if the entity has reported positive net operating cash flows in item 1.9, answer item 8.5 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.5. | ||
| 8.6 | If item 8.5 is less than 2 quarters, please provide answers to the following questions: | |
| 8.6.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? | ||
| Answer: N/A | ||
| 8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? | ||
| Answer: N/A | ||
| 8.6.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? | ||
| Answer: N/A | ||
| Note: where item 8.5 is less than 2 quarters, all of questions 8.6.1, 8.6.2 and 8.6.3 above must be answered. | ||
Compliance statement
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
2 This statement gives a true and fair view of the matters disclosed.
Date: 29 January 2026
Authorised by: 6K Additive, Inc. Board of Directors
(Name of body or officer authorising release – see note 4)
Notes
1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standard applies to this report.
3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.
5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.