Damon Inc. Reports Revenue Growth to $80,691, Despite Increased Losses in Latest Quarter

Damon Inc. reported its financial results for the three months ending September 30, 2025, revealing a revenue of $80,691, a significant increase from zero revenue in the same period last year. The company incurred a gross profit of $40,346, but also reported a loss from operations of $2,826,011, compared to a loss of $1,899,941 in the prior year. The net loss for the quarter was $3,302,459, a reduction from the $7,412,175 loss reported in the same quarter of 2024, indicating an improvement in financial performance despite ongoing challenges.

The company’s total assets decreased to $1,815,891 as of September 30, 2025, down from $4,082,698 at the end of the previous fiscal year. Current liabilities increased to $14,874,412, compared to $13,834,129 as of June 30, 2025. The stockholders’ deficit also widened to $13,176,409 from $9,888,085, primarily due to accumulated losses. The company’s cash and restricted cash balance fell to $725,199 from $2,522,656, reflecting cash used in operations of $1,759,059 during the quarter.

Damon Inc. has undergone significant organizational changes, including a business combination with Damon Motors Inc. on November 13, 2024, which resulted in Damon Motors becoming a wholly-owned subsidiary. This strategic move is part of the company's efforts to enhance its product offerings in the electric motorcycle market. The company has also implemented a reverse stock split at a ratio of 1-for-125, effective July 3, 2025, to consolidate its shares and improve its market position.

Operationally, the company is focusing on the development and commercialization of electric motorcycles and personal mobility solutions. However, it faces challenges such as the need for additional capital to fund operations and product development. The company reported a weighted average of 19,603,815 common shares outstanding during the quarter, down from 23,152 shares in the previous year, reflecting the impact of the reverse stock split. The company is actively seeking financing to support its growth strategy and address its ongoing operational losses.

Looking ahead, Damon Inc. acknowledges the uncertainties surrounding its ability to continue as a going concern, primarily due to its history of losses and the need for sufficient financing. Management is focused on obtaining the necessary capital to fund its operations and product development plans. The company’s future performance will depend on its ability to successfully implement its growth strategy, attract customers, and navigate the competitive landscape of the electric mobility market.