Haydale has announced its financial results for Q3 2024, which is the end of its 2024 fiscal year. Haydale says that while it has developed an excellent pipeline of opportunities, the timeline of converting these into sales takes longer than anticipated.
Haydale's revenue in FY2024 was 4.82 million GBP (up 12% from 2023), and the company reported a slightly improved loss of 3.16 million GBP (down from 3.49 million in 2023).
Haydale reports continued progress with some of its major partners that utilize Haydale's nanomaterial plasma functionalisation technology. Saint Gobain are now taking a Haydale plasma functionalised boron nitride product to market under the brand AdaptiflexTM, and in addition it is making progress with its underfloor heating partners and in its water heater projects.
Haydale further says that work with Petronas continuing with positive progress across a number of project initiatives that could ultimately lead to significant volume contracts.