New Risk • Jun 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.9m (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Earnings have declined by 39% per year over the past 5 years. Revenue is less than US$1m (AU$1.3m revenue, or US$889k). Market cap is less than US$10m (AU$13.9m market cap, or US$9.72m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Announcement • Mar 20
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3204 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.3204 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 89,000,000
Price\Range: AUD 0.0036
Discount Per Security: AUD 0.000216
Transaction Features: Subsequent Direct Listing Announcement • Mar 16
FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.3204 million. FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.3204 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 89,000,000
Price\Range: AUD 0.0036
Discount Per Security: AUD 0.000216
Transaction Features: Subsequent Direct Listing Announcement • Feb 06
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.207122 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.207122 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 59,177,815
Price\Range: AUD 0.0035
Transaction Features: Subsequent Direct Listing Announcement • Jan 29
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.194803 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 0.194803 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 54,414,341
Price\Range: AUD 0.00358
Transaction Features: Subsequent Direct Listing Announcement • Jan 23
FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.194803 million. FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.194803 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 54,414,341
Price\Range: AUD 0.00358
Transaction Features: Subsequent Direct Listing Announcement • Jan 20
FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.315 million. FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 0.315 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,000,000
Price\Range: AUD 0.0035
Transaction Features: Subsequent Direct Listing Reported Earnings • Oct 05
Full year 2025 earnings released: AU$0.016 loss per share (vs AU$0.007 loss in FY 2024) Full year 2025 results: AU$0.016 loss per share (further deteriorated from AU$0.007 loss in FY 2024). Revenue: AU$1.31m (up 57% from FY 2024). Net loss: AU$83.0m (loss widened 199% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Board Change • Oct 02
Less than half of directors are independent Following Non-Executive Director Glenn Cooper's arrival on 01 October 2025, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Chairman Shannon Robinson was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 11
FBR Limited, Annual General Meeting, Nov 06, 2025 FBR Limited, Annual General Meeting, Nov 06, 2025. New Risk • Sep 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 35% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$867k). Minor Risk Market cap is less than US$100m (AU$32.4m market cap, or US$21.4m). Announcement • Sep 06
FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 1.09745 million. FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 1.09745 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 235,000,000
Price\Range: AUD 0.00467
Transaction Features: Subsequent Direct Listing Announcement • Sep 05
FBR Limited announced that it expects to receive funding from Olderfleet Capital Corp Pty Ltd FBR Limited announced that it has entered into a share subscription agreement with Olderfleet Capital Corp Pty Ltd to issue common shares on September 4, 2025. Reported Earnings • Aug 31
Full year 2025 earnings released: EPS: AU$0.006 (vs AU$0.007 loss in FY 2024) Full year 2025 results: EPS: AU$0.006. Net loss: AU$29.0m (loss widened 4.4% from FY 2024). Announcement • Aug 18
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 222,222,222
Price\Range: AUD 0.0045
Discount Per Security: AUD 0.00027
Transaction Features: Subsequent Direct Listing Announcement • Aug 06
FBR Limited announced that it expects to receive AUD 20 million in funding from Global Emerging Markets FBR Limited announced a share subscription agreement for private placement to issue common shares for the proceeds of AUD 20 million over a three-year period on August 6, 2025. The transaction involves participation of GEM Global Yield Fund LLC SCS managed by Global Emerging Markets as a new investor. Company may draw down funds in tranches in exchange for issuing new shares to GEM over the three-year period. There is no minimum drawdown obligation. New Risk • Jun 06
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$747k revenue, or US$486k). Minor Risks Shareholders have been diluted in the past year (28% increase in shares outstanding). Market cap is less than US$100m (AU$34.1m market cap, or US$22.2m). New Risk • Apr 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 27% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Revenue is less than US$1m (AU$747k revenue, or US$480k). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$29m net loss next year). Shareholders have been diluted in the past year (27% increase in shares outstanding). Market cap is less than US$100m (AU$33.8m market cap, or US$21.7m). Announcement • Mar 27
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 6.283202 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 6.283202 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 574,500,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 53,820,242
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$30m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$30m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$747k revenue, or US$465k). Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$29m net loss next year). Market cap is less than US$100m (AU$96.1m market cap, or US$59.8m). New Risk • Feb 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$106.3m (US$67.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m (AU$837k revenue, or US$533k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$26m net loss in 2 years). Market cap is less than US$100m (AU$106.3m market cap, or US$67.6m). New Risk • Feb 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$837k revenue, or US$529k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$26m net loss in 2 years). Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Dec 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$154.4m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$837k revenue, or US$532k). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$26m net loss in 2 years). Shareholders have been diluted in the past year (21% increase in shares outstanding). Market cap is less than US$100m (AU$154.4m market cap, or US$98.1m). Announcement • Sep 19
FBR Limited, Annual General Meeting, Nov 18, 2024 FBR Limited, Annual General Meeting, Nov 18, 2024. Reported Earnings • Aug 31
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: AU$0.007 loss per share (in line with FY 2023). Net loss: AU$27.8m (loss widened 21% from FY 2023). Revenue exceeded analyst estimates by 18%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 114% p.a. on average during the next 2 years, compared to a 8.7% decline forecast for the Machinery industry in Australia. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. New Risk • Aug 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$151.7m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$28m net loss in 2 years). Shareholders have been diluted in the past year (20% increase in shares outstanding). Revenue is less than US$5m (AU$1.7m revenue, or US$1.1m). Market cap is less than US$100m (AU$151.7m market cap, or US$99.4m). Board Change • Apr 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Nancy Milne was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jan 23
FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 12.592035 million. FBR Limited has filed a Follow-on Equity Offering in the amount of AUD 12.592035 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 466,371,663
Price\Range: AUD 0.027
Discount Per Security: AUD 0.00162
Transaction Features: Subsequent Direct Listing Announcement • Oct 27
FBR Limited, Annual General Meeting, Nov 28, 2023 FBR Limited, Annual General Meeting, Nov 28, 2023, at 11:00 W. Australia Standard Time. Location: Mount Lawley Golf Club, 1 Walter Road Inglewood Western Australia Australia Agenda: To consider the Annual Report of the Company and its controlled entities for the year ended 30 June 2023, which includes the Financial Report, the Directors' Report and the Auditor's Report; to consider adoption of Remuneration Report; to consider re-Election of Directors; to consider Increase in maximum aggregate cap of non-executive Directors' remuneration; to consider approval of Employee Securities Incentive Plan; to consider approval of 10% Placement Facility; to consider ratification of prior issue of Placement Shares under Listing Rule 7.1A; and to consider any other matters. Announcement • Oct 10
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 6.2 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 6.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 248,000,000
Price\Range: AUD 0.025
Discount Per Security: AUD 0.0015
Transaction Features: Subsequent Direct Listing Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.007 loss per share (vs AU$0.009 loss in FY 2022) Full year 2023 results: AU$0.007 loss per share. Net loss: AU$22.9m (loss widened 15% from FY 2022). New Risk • Aug 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$29m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$882k revenue, or US$572k). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$81.9m market cap, or US$53.1m). New Risk • Aug 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$29m free cash flow). Earnings have declined by 25% per year over the past 5 years. Revenue is less than US$1m (AU$882k revenue, or US$573k). Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$81.9m market cap, or US$53.2m). Announcement • Dec 22
FBR Limited Announces Mechanical Completion of Next Generation Hadrian X FBR Limited advised that mechanical assembly of the first next-generation Hadrian X® has been completed. The next-generation Hadrian X® is the latest iteration of FBR's bricklaying construction robot, designed to be able to lay at speeds of up to 500 blocks per hour (equating to up to ~120m2 per hour), with the potential to complete both the external and internal walls of a standard double brick house in a single day. The next-generation Hadrian X® features a shuttle block delivery system designed to lay any existing commercially available blocks, as well as the ability to lay blocks not yet available on the market, including large blocks measuring up to 600mm x 400mm x 300mm and weighing up to 45kg. The shuttle delivery system is also designed to be adaptable to handle other products such as roof tiles subject to further future development. The lengthened 32 metre telescopic boom arm of the next-generation Hadrian X® provides further reach than its predecessor, enabling construction of walls three storeys high from the roadside as well as the ability to lay blocks within 50mm of existing walls. The improved design of the saw module of the next-generation Hadrian X® enables it to make height, mitre and gable cuts to blocks, further increasing the capability of the Hadrian X®. The next-generation Hadrian X® is designed with distributed control architecture, leading to a highly reliable system which allows for individual modules to be customised, repaired and swapped efficiently. Most of the ancillary equipment of the Hadrian X® is self-contained, greatly improving deployment efficiency. Commissioning activities for the next-generation Hadrian X® continues with expected completion by 31 March 2023. Following completion of commissioning activities, the Hadrian X® will be calibrated and tested before being utilised for demonstration activities to potential WaaS® partners domestically and internationally. Announcement • Jul 14
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 1.929628 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 1.929628 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 107,201,578
Price\Range: AUD 0.018
Transaction Features: Subsequent Direct Listing Announcement • Jun 25
FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million. FBR Limited has completed a Follow-on Equity Offering in the amount of AUD 4 million.
Security Name: ordinary shares
Security Type: Common Stock
Securities Offered: 222,222,222
Price\Range: AUD 0.018
Discount Per Security: AUD 0.0009
Transaction Features: Subsequent Direct Listing Announcement • Jun 17
FBR Limited announced that it has received AUD 4 million in funding FBR Limited announced a private placement of 222,222,222 shares at AUD 0.018 per share for gross proceeds of AUD 3,999,999 on June 17, 2022. The transaction included participation from institutional and sophisticated investors. The share price representing a 10% discount to the last closing price, 19% discount to the 10-day VWAP and a 22% discount to the 15-day VWAP. The new shares to be issued under the placement will rank equally with existing FBR fully paid ordinary shares on issue. The placement was managed by MST Financial for a fee and was conducted in accordance with ASX Listing Rules 7.1 and 7.1A. Securities will be issued under both the Company’s 7.1 and 7.1A capacity. The expected date of issue of the securities is Friday, 24 June 2022. Announcement • Apr 26
FBR Limited Appoints Nancy Milne OAM as Non Executive Director FBR Limited announced that it has re-appointed Ms. Nancy Milne OAM as a Non-Executive Director of FBR. Ms. Milne previously served as a Non-Executive Director of FBR from August 2018 to January 2020, at which time she resigned to attend to family health issues. Ms. Milne is currently Chair of the Securities Exchange Guarantee Corporation, Chair of the Accountants Professional and Ethics Standards Board, Deputy Chair of the NSW State Insurance Regulatory Authority, and a Director of the Benevolent Society. Executive Departure • Jul 13
Company Secretary & Executive Officer Rachelle Brunet has left the company On the 30th of June, Rachelle Brunet's tenure as Company Secretary & Executive Officer ended after 2.3 years in the role. We don't have any record of a personal shareholding under Rachelle's name. A total of 4 executives have left over the last 12 months. The current median tenure of the management team is 2.08 years. Announcement • Jan 17
FBR Limited Commences Pilot Program with Xella Technologie- und Forschungsgesellschaft mbH FBR Limited announced that it has executed a Pilot Program Agreement with Xella Technologie- und Forschungsgesellschaft mbH to construct houses at FBR's premises using the Hadrian X® and Xella building products. The purpose of the Australian Pilot Program is to enable FBR and Xella to develop a practical understanding of the capabilities of each other's products, within the limitations of the economic conditions and travel restrictions resulting from the COVID-19 pandemic. Xella will deliver a number of AAC and CSU blocks to FBR, which FBR will use to construct at least two buildings at FBR's premises using the Hadrian X®. After completion of the Pilot Program, FBR and Xella will consult with one another on any changes to the AAC or CSU blocks, adhesives or the Hadrian X ® that may be beneficial to progress the commercialisation of the Hadrian X ® with Xella blocks in Europe, as well as a European pilot building program. Announcement • Aug 19
FBR Limited announced that it expects to receive AUD 16.000001 million in funding FBR Limited (ASX:FBR) announced a private placement of 280,701,765 shares at AUD 0.57 per share for gross proceeds of AUD 16,000,001 on August 19, 2020. The transaction will include participation from existing and new institutional and sophisticated investors from Australia, New Zealand, the United Kingdom and Hong Kong. The transaction is expected to close on August 25, 2020. 