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GTI

Graphjet Technology

GTI

Graphjet Technology • NASDAQ
$2.70 ▲ 0.00% (+0.00)
Market Cap $399.70 M
52w High $210.00
52w Low $0.47
Dividend Yield 0%
P/E -0.29
Volume 718.96K
Outstanding Shares 148.04M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $49.316K ▲ $20.796M ▲ $-21.502M ▼ -43.6K% ▼ $-8.74 ▼ $-20.855M ▼
Q2-2025 $0 $552.947K ▼ $-577.023K ▲ 0% $-0.23 ▲ $-510.588K ▲
Q1-2025 $0 $652.058K ▼ $-689.155K ▲ 0% $-0.28 ▲ $-609.942K ▲
Q4-2024 $0 $3.299M ▲ $-3.658M ▼ 0% $-1.68 ▼ $-3.294M ▼
Q3-2024 $0 $2.133M $-2.139M 0% $-0.87 $-2.023M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $80.56K ▼ $1.891M ▼ $20.934M ▲ $-19.043M ▼
Q2-2025 $227.828K ▼ $1.977M ▼ $20.312M ▲ $-18.334M ▼
Q1-2025 $596.667K ▲ $2.305M ▲ $20.037M ▼ $-17.731M ▲
Q4-2024 $348.655K ▲ $2.171M ▼ $20.43M ▲ $-18.259M ▼
Q3-2024 $88K $7.196M $14.883M $-7.687M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $18.775M ▲ $-170.776K ▲ $-456 ▲ $126.427K ▲ $-39.154K ▲ $3.165M ▲
Q2-2025 $-577.023K ▲ $-348.104K ▲ $-22.673K ▼ $-579 ▼ $-368.839K ▼ $-370.777K ▲
Q1-2025 $-689.155K ▲ $-800.69K ▼ $-9.333K ▲ $1.089M ▲ $248.012K ▼ $-810.023K ▼
Q4-2024 $-3.658M ▼ $1.173M ▲ $-232.858K ▼ $-773.832K ▼ $260.655K ▲ $1.153M ▲
Q3-2024 $-2.139M $-1.043M $-6.611K $-6.139K $-1.058M $-1.049M

Five-Year Company Overview

Income Statement

Income Statement Graphjet is still a pre‑revenue company. Over the last few years it has not yet generated sales or gross profit, and only recently began to show operating losses as it ramps up. The losses so far appear small in absolute terms, but because there is no revenue, every dollar spent flows straight through to the bottom line. Reported earnings per share look very volatile, which is more a reflection of listing, share structure, and accounting effects than of any mature, stable business performance. Overall, the income statement tells the story of an early‑stage, development‑phase company rather than a commercial producer.

Balance Sheet

Balance Sheet The balance sheet is very light and looks fragile. Assets are minimal, with essentially no reported cash buffer and no meaningful physical or financial assets yet on the books. There is currently no debt, which removes interest‑burden risk, but equity has recently turned negative, suggesting that accumulated losses and transaction costs have eaten through the initial capital base. This combination—very small asset base, negative equity, and no clear cash cushion—implies that the company will likely depend heavily on fresh funding to build facilities and move into full commercial production.

Cash Flow

Cash Flow Reported cash‑flow figures are essentially flat, which usually means one of two things: either activities are still tiny and not yet captured in a detailed way, or the disclosures are limited at this early stage. In practical terms, there is no visible internally generated cash to fund growth. As the company starts building plants and scaling operations, real cash outflows for equipment, staff, and working capital will likely rise quickly. Without established revenue or strong cash reserves, future cash needs will probably have to be met through external capital raises rather than from the business itself.

Competitive Edge

Competitive Edge On paper, Graphjet’s competitive story is strong and differentiated. Its patented process that converts agricultural waste (palm kernel shells) into battery‑grade graphite and single‑layer graphene gives it a clear technological angle and an environmental edge. The ability to source low‑cost waste material in palm‑oil regions, combined with much lower claimed carbon emissions versus traditional graphite, aligns well with global demand for greener supply chains and non‑Chinese sources of critical materials. An early offtake agreement with a well‑known automotive supplier helps validate the concept. The flip side is that the company is still pre‑scale: the moat is mostly based on patents and potential rather than proven, large‑volume production. Established graphite players and future imitators may respond aggressively once the economics are demonstrated, so the real strength of its competitive position will only become clear after successful scale‑up.

Innovation and R&D

Innovation and R&D Innovation is clearly the heart of Graphjet. The business is built around a proprietary, patented process that turns low‑value waste into high‑value graphite and graphene, fitting neatly into a circular‑economy and ESG‑friendly narrative. Technologically, the promise is significant: lower costs from cheap feedstock, lower emissions from a cleaner process, and access to both the battery market (synthetic graphite) and the more speculative, long‑term graphene market. R&D and engineering risk remain high, however. Moving from lab and pilot success to large, reliable industrial plants is often where advanced‑materials companies struggle. In addition, graphene’s broader commercial adoption is still developing, so some of the longer‑term upside depends on markets that are not yet fully mature. The innovation and IP base look strong, but the commercialization and scaling journey is still in its early chapters.

Summary

Graphjet today is a classic early‑stage, high‑uncertainty story: very little in the way of current financial substance, but a bold technological and strategic vision. The income statement shows no revenue and emerging losses, the balance sheet is thin with negative equity and no visible cash cushion, and there is no evidence yet of self‑funding cash generation. Against that, the company’s patented technology, green positioning, and role as a potential non‑Chinese supplier of critical battery materials give it a compelling narrative in a market that cares increasingly about sustainability and supply‑chain security. Future outcomes will hinge on whether Graphjet can: (1) build and ramp its Malaysian and planned U.S. facilities on time and on budget, (2) prove its process works reliably at industrial scale, (3) lock in more long‑term offtake deals, and (4) secure enough funding to bridge the gap from concept to cash‑generating operations. Until those pieces fall into place, both the business and the stock are likely to remain volatile and financially vulnerable. This is interpretation, not investment advice; anyone evaluating GTI would need to weigh the technology promise against the very early‑stage and capital‑dependent financial profile.

NEWS

September 5, 2025 · 5:10 PM UTC

Graphjet Receives Nasdaq Letter

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