$BRN (+0,96 %) released its half-year results two weeks ago. And they paint a mixed picture.
First, the good news: the first 2,000 AKD1500 chips were shipped. That means actual products—not prototypes—and real customers who are buying these chips. In addition, revenue rose by 19% to $1.22 million. About half of that comes from licensing revenue for the first time—in other words, recurring revenue.
So far, so good. On top of that, there’s also plenty of positive PR surrounding development platforms, partnerships, and awards.
At the same time, however, the net loss has risen by a whopping $3 million to over $12 million. So costs are rising faster than revenue. None of this is deterring me yet, though. I’m still invested with just under 4,500 shares.
However, I recognize the significant financial needs and the resulting risk of dilution. That’s why I’m not adding to my position right now and am waiting for the AKD2500 news, which should come toward the end of the year. I’d recommend that to anyone before they dare to get in on this. Everything is still very risky and uncertain. The technology and the story appeal to me, but it remains completely unclear whether this will result in a financially viable product or not. At the end of the year, I’ll reassess my investment thesis on this.
$BRN (+0,96 %) Share price as of September 1, 2026, 5:30 p.m.: 0.0819 EUR
