CAP-XX shares slide despite narrower full-year losses

CAP-XX shares were sliding on Friday, even after it reported narrower losses and improved operational performance for the year ended 30 June, supported by modest revenue growth and stronger margins, as the Australian supercapacitor manufacturer continued to advance its commercial partnerships and streamline operations.

Revenue for the year rose 7.6% to AUD 4.94m (£2.44m), compared with AUD 4.59m a year earlier.

Gross margins held broadly steady at 29.7%, while the EBITDA loss narrowed by 40.5% to AUD 3.04m.

The AIM-traded company recorded a loss after tax of AUD 3.93m, an improvement of 36% from the prior year.

Cash at year-end stood at AUD 3.96m, with inventories, raw materials and work in progress totalling AUD 0.99m.

During the year, CAP-XX signed new distribution agreements with Farnell (AVNET) and RS Components, and a master distributor deal with Waldom Electronics.

The firm also reported progress in developing a sales pipeline with Schurter AG.

Operationally, it integrated Datapel warehouse management and Pipeliner CRM systems with MYOB, introduced real-time Power BI reporting, and achieved near-optimal production yields at its Seven Hills facility, leading to shorter lead times.

Trading since year-end was described as positive, with bookings up 25.4% and billings up 12.1% in the first four months of the 2026 financial year.

The order backlog at 31 October was AUD 2.7m, while cash stood at AUD 1.5m.

CAP-XX said it had applied for an AUD 1.8m research and development tax credit and incurred AUD 0.85m in one-off costs and creditor payments during the period, while replenishing historically low inventory levels.

At 1244 GMT, shares in CAP-XX were down 14.38% at 0.27p.

Reporting by Josh White for Sharecast.com.