- Global tech company BrainChip Holdings (BRN) reports its fourth quarter financials for the 2021 financial year
- The company ended the period with US$17.7 million (A$24.02 million) in cash compared to US$20 million (A$27 million) in the prior quarter
- Net cash outflows from operating activities reached US$3 million (A$4.07 million), down from US$3.8 million (A$5.15 million) in the prior quarter
- BrainChip’s design and manufacturing partner, Socionext, released the engineering layout of the production version of the AKD1000 chip to Taiwan Semiconductor Manufacturing Company
- Ahead of market open, BrainChip last traded at 46.5 cents per share
BrainChip Holdings (BRN) has revealed its fourth quarter report for the 2021 financial year.
The global tech company ended the period with US$17.7 million (A$24.02 million) in cash compared to US$20 million (A$27 million) in the prior quarter.
Net cash outflows from operating activities were US$3 million (A$4.02 million), down from US$3.8 million (A$5.15 million) in the prior quarter.
This decrease was due to reduced customer receipts of US$900,000 (A$1.2 million), a US$2.25 million (A$3 million) payment in the prior period and an increased headcount at both the Australian research centre and US operations.
Over the quarter, BrainChip’s design and manufacturing partner, Socionext, released the engineering layout of the production version of the AKD1000 chip to Taiwan Semiconductor Manufacturing Company.
Production units of this chip are expected to be available for testing in the third quarter.
BrainChip will continue to update the market on material events and maintain monthly podcasts to inform all constituents of the company’s progress and industry trends.
Ahead of market open, BrainChip last traded at 46.5 cents per share.