Earnings call transcript: Weebit Nano Q1 2026 shares fall as cash stays strong
Weebit Nano reported a 7.64% drop in shares, closing at $2.66 after the Q1 2026 earnings call. The company holds AUD 164 million in cash, with a net burn rate projected under AUD 20 million for the fiscal year. The company disclosed that its ReRAM technology is now qualified at multiple foundries, including DB HiTek and TSMC, with work ongoing at onsemi and Texas Instruments (TI).
Two existing customers expanded their agreements to include additional business units and product lines, signifying growing confidence in the technology. Additionally, two AI customers have started paying for access to Weebit's in-memory compute technology, though the business is still at least two years away from commercial viability.
Despite the stock price decline, analysts suggest the shares may be undervalued, with price targets ranging from $5.60 to $7.08. Management emphasized that the company's focus is on customer adoption, technology qualification, and milestone-based revenue recognition, rather than short-term financial results.
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