Damon Provides Operational Business Update and Reports FY25 Q3 Results

Core Viewpoint - Damon Inc. is focused on enhancing its financial position and diversifying its business model to accelerate revenue generation, transitioning from a motorcycle company to a broader personal mobility solutions provider [2][5]. Financial Performance - For FY25 Q3, the net loss was approximately $2.4 million, or$0.11 per diluted share, a significant improvement from a net loss of $25.6 million, or$2.11 per diluted share, in the same period last year [9]. - Total cash increased to $7.56 million at March 31, 2025, compared to$396,000 at the end of June 2024 [13]. - Total liabilities decreased to $29.1 million at March 31, 2025, down from$52.2 million at the end of June 2024 [13]. - Stockholders' deficit reduced to $21.3 million at March 31, 2025, compared to$50.4 million at the end of June 2024 [13]. - Operating expenses for the quarter were approximately $29.0 million, compared to$9.5 million in the same period last year, largely due to a Goodwill Impairment [13]. Business Model and Strategy - The company completed a $16.5 million underwritten public offering and established a$10 million prepaid equity line of credit facility [8]. - Damon has redefined its mission to focus on four core revenue verticals: Data Intelligence, Personal Mobility, Licensing and Engineering Services, and Special Projects [8]. - The company is implementing an asset-light business model through strategic partnerships to optimize operational efficiency [9]. Product Development and Innovation - Damon is advancing the development of the HyperSport Race Motorcycle in collaboration with Engines Engineering, with an expected product delivery timeline of within 12 months and reduced development costs to under $10 million [8]. - The company holds over 38 patents and patents pending, with proprietary safety systems and electrification technology as key differentiators in the market [6]. Market Position - Damon aims to capture a significant share of the$40 billion global electric two-wheeler market by 2030, leveraging its integrated ecosystem approach and advanced data analytics [11].