Nanomaterials trailblazer Nanoco Group plc has seen its share price drop 2% in early trading after it reported its annual results (writing at 8.40am).
The listed Runcorn firm, behind cadmium-free quantum dots used in monitors, TVs and infra-red sensors, is suing electronics giant LG after winning $150m in a legal dispute with Samsung in 2023 on a no fault basis for the alleged infringement of its IP.
For the year ended 31st July 2025, revenue decreased to £7.6m (FY24: £7.9m), while adjusted EBITDA improved to £1.5m (FY24: £1.2m) due to a reorganisation which saw the firm reduce its gross monthly cash cost base to £500,000 (FY24 Q4: £700,000).
The firm said last year that it was cutting jobs in an attempt to preserve cash as it explores a sale via financial advisor CDX Advisors, despite its considerable financial resources due to the Samsung settlement.
It added this morning that it continues to explore a potential sale of its trading business: “Following an extensive reach-out process, we remain in discussions with several parties, assessing options which will deliver the best value for shareholders and wider stakeholders.”
Reported cash at the period end was £14m (FY24: £20.3m). During the year it completed a share buyback, fulfilling a commitment to return £33m to shareholders.
Nanoco also reported contracted organic and licence revenue of £7.6m for FY26 (FY25: £6.7m).
It said that it remained positive following the appointment of Dmitry Shashkov as CEO, Jalal Bagherli as non-executive chairman and Jai Subramanian as global head of business development during the period.
In August it revealed that CTO Dr Nigel Pickett, who founded the firm 24 years ago, would retire from the company and its board in early 2026.
Dr Ombretta Masala, who has worked for Nanoco for 18 years, directly reporting into Dr Pickett, will become director of technology in February but not join the board.
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Quantum dots are a nanomaterial 1,000 times smaller than a human hair that significantly enhance the colour and gamut visible to the human eye when light is shone through them. This technology usually contains cadmium, a toxic heavy metal.
Nanoco has pioneered the use of cadmium free quantum dots, developing and patenting a successful method for mass-producing cadmium free quantum dots through its ‘seeding’ methodology.
These patents were validated during Nanoco’s lawsuit against Samsung between 2020-2023, during which the US Patent Trials and Appeals Board ruled that Nanoco’s patents were valid.
Following the appointment of a new CEO in Shashkov in October 2024, Jai Subramanian joined as global business director in December. It also revealed plans to ramp up its commercial engagement as it transitions to scaled production.
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