Q4 FY25 Quarterly Activities Report: Weebit Nano well-positioned to achieve 2025 commercial targets

Tech transfer at onsemi progressing to plan; DB HiTek moving towards qualification; commercial negotiations with multiple vendors advancing

Key highlights

• Technology transfer to onsemi’s Treo™ platform progressing well
  • First module tape-out expected before calendar year-end
• Qualification of Weebit ReRAM at DB HiTek on track for completion before end 2025
• Received A$1.4 million in payments from customers
• Well-positioned to achieve stated AGM commercial targets of new agreements with three fabs and three product companies by end 2025
• Demonstrated edge AI application running on DB HiTek 1Mb ReRAM module in silicon
• Well-funded for growth with A$88 million cash at bank at end of quarter
• Post quarter-end: A first product customer has signed a design license agreement to utilise Weebit technology in its product

July 31, 2025 – Weebit Nano Ltd (ASX: WBT, Weebit or Company) provides this activity report for the quarter ended 30 June 2025 (Q4 FY25), along with the Company’s Appendix 4C cash flow report.

Weebit Nano CEO Coby Hanoch said: “Weebit has had a highly productive quarter, advancing the transfer of our ReRAM technology to onsemi, targeting tape-out of our test chip before the end of 2025. We also made significant inroads with DB HiTek, demonstrating the fully-functional demo chip at the PCIM conference and are on track to finish the qualification process before the end of 2025. Once fully qualified at DB HiTek, our IP will become accessible to hundreds of their customers for use in next-generation automotive, AI, microcontroller, and power management applications.

“Demand for faster, more energy efficient non-volatile memory (NVM) technology has never been greater, fuelled by the increasing integration of AI across virtually every device. This growing need is supporting our active discussions with more than a dozen of the world’s leading foundries, Integrated Device Manufacturers (IDMs), and product companies. While new licensing agreements take time to progress from initial tech evaluations through to finalising commercial terms, we are well positioned to achieve the targets set at the AGM.

"Alongside commercial progress, we continue to make significant technical advancements, and are constantly enhancing the baseline parameters of our ReRAM. Ongoing technology performance and quality enhancements are essential to supporting both current and future licensing discussions.”

Technology transfer progressing at onsemi

Technology transfer to onsemi is progressing well with tape-out (released to manufacturing) of first demo chips embedded with Weebit ReRAM expected in 2025. NASDAQ-100 onsemi is a tier-1 IDM, designing and manufacturing its own products, however it also manufactures for a few, select, product companies.

Following tape-out and qualification, Weebit ReRAM will be available in onsemi’s Treo™ platform, offering a cost-effective, low-power NVM suitable for use in high temperature applications such as automotive and industrial.

Qualification at DB HiTek

Weebit remains on track to complete qualification at leading foundry DB HiTek this calendar year. Qualification to JEDEC industry standards involves rigorous testing of wafers produced at DB HiTek, including high temperature operating life, program/erase endurance, and data retention. Once qualified, Weebit’s non-volatile memory IP will be available in DB HiTek’s 130nm Bipolar-CMOS-DMOS (BCD) process - which has broad applicability across consumer, industrial, and IoT applications.

DB HiTek is already demonstrating Weebit’s ReRAM, embedded in a test chip manufactured at DB HiTek, at industry events such as the PCIM conference in Germany - Europe’s largest power semiconductor exhibition. The edge AI demonstration, running on DB HiTek 1Mb ReRAM module in silicon, showed an application of gesture recognition and has been effective in showcasing to potential customers the advantages of integrating ReRAM on-chip.

Customer engagements

Technical evaluations and commercial negotiations are progressing with more than a dozen foundries, IDMs, and product companies. Weebit remains well-positioned to meet its targets outlined at the AGM, securing multiple licensing agreements before the end of the calendar year.

AI, automotive and power management are the three domains where Weebit Nano is experiencing the strongest level of customer engagement. Weebit ReRAM is ideal for these applications, a back-end-of-line technology which can scale below 28nm, and retaining data for up to 10 years at 150°C.

In Q4 FY25, Weebit Nano continued to engage with potential customers and partners at leading industry conferences and trade shows, including the Global Semiconductor Alliance European Executive Forum 2025 in Germany, ChipEx in Israel, International Memory Workshop in the USA, PCIM Expo & Conference in Germany, Symposium on VLSI Technology and Circuits in Japan, Leti Innovation Days 2025 and CEA-List Tech Days 2025 in France, and MPSoC Forum in France. These events, which included presentations, articles and technical demonstrations from Weebit’s executive team, support commercial discussions and increase awareness of the Company’s ReRAM technology and progress.

Subsequent to the end of the quarter, Weebit signed a design license agreement with its first product customer. The customer, a U.S.-based company, plans to incorporate Weebit's technology into select security-related applications.¹

Strong cash position to fund growth

Notable operating cash flow items during Q4 FY25 include customer receipts of A$1.4 million and R&D expenses of A$3.5 million. Payments to related parties, including fees paid to Directors and the CEO’s payroll costs, totaled A$357,000.

Weebit has a strong balance sheet of A$88 million as of 30 June 2025, funding commercial activities and further R&D. As customer payments are tied to milestones, the Company is well placed to grow revenues as it signs additional agreements and progresses its work with different customers.

About Weebit Nano Limited

Weebit Nano Ltd. is a leading developer and licensor of advanced semiconductor memory technology. The company’s ground-breaking Resistive RAM (ReRAM) non-volatile memory (NVM) addresses the growing need for significantly higher performance and lower power memory solutions in a range of electronic products such as AI, Internet of Things (IoT) and wearable devices, automotive, industrial automation, robotics, neuromorphic computing, and many others. For these applications, Weebit ReRAM allows semiconductor memory elements to be significantly faster, less expensive, more reliable and more energy efficient than those using existing flash memory solutions. As it is based on fab-friendly materials, the technology can be quickly and easily integrated with existing flows and processes, without the need for special equipment or large investments.

See: www.weebit-nano.com

¹ Now that Weebit has commenced signing design licence agreements, the Company intends to disclose in its Quarterly Activities reports to the ASX, aggregate information of the new design licence agreements signed, which is consistent with industry practice. This disclosure is made to keep investors appraised of progress and not because Weebit considers any single agreement to be market sensitive.