G6 Materials Corporation announced its financial results for FY2023 (which ended on May 31, 2023). For the year, revenue was $1.5 million, up from $1.3 million in 2022. This was offset by increased R&D, general and administrative expenses.
Total loss in the year was $2.8 million, an improved from last year ($4.9 million loss, but that year included $2.7 million investment write-down).
Going forward, the company expects that its cost structure will be significantly improved after the changes that were made at the corporate level over the last several months. The company is now focused on improving its working capital position by increasing sales of its new epoxy product line and its Breathe+ Pro Advanced Antimicrobial Graphene Air Filtration System.. G6 is also focused on evolving its strategic partnership with Singapore-based MADE Advanced Materials.