- Secured $26.5 million in non-dilutive funding in Q1 2025.
- Reported net income of $2.7 million in Q1 2025.
- Maintained strong cash position with $27.8 million in cash and cash equivalents.
Nano One Materials Corp (NNOMF, Financial) has announced its Q1 2025 financial results, highlighting a solid financial foundation with total net assets amounting to $25.5 million. The company successfully secured $26.5 million in non-dilutive funding within Q1, including $13.7 million from a strategic sale and leaseback transaction and $12.8 million from various government programs.
The company's financials for the first quarter of 2025 reflect a net income of $2.7 million, which was substantially bolstered by government grants and gains from the aforementioned sale-leaseback transaction. Nano One maintains a healthy liquidity position with $27.8 million in cash and cash equivalents, and it has approximately $29.0 million in future government program reimbursements scheduled over the next two years.
The sale and leaseback transaction, finalized on February 28, 2025, yielded net proceeds of $13.7 million along with a $2.0 million deferred payment through a vendor loan receivable. Despite the positive results, Nano One has recognized a $13.8 million lease liability resulting from this transaction, alongside a $2.8 million government loan to be repaid after a five-year moratorium.
Looking forward, Nano One Materials Corp will be holding its Annual General Meeting on May 23, 2025, at 9:00 AM PST, with shareholder voting set to close two days prior on May 21. The AGM will be followed by a corporate presentation and a Q&A session, providing stakeholders with insights into the company's future plans and strategies.
