500% increase in revenue, woohoo
FINANCIAL UPDATE
The Company ended the June Quarter with US$28.4M in cash compared to US$31.2M in the prior
quarter.
BrainChip reported net operating cash outflows of US$2.8M vs.US$5.0M in Q1-22. Receipts from
customers for the quarter were US$1.2M, an increase of US$1M in Q1-22.
Payments to suppliers and employees were down quarter-on-quarter, totaling US$4.1M in Q2-22
versus US$5.3M in Q1-22. In the June quarter, BrainChip incurred $0.77M in third party licenses
and hardware related to the development of next-generation Akida engineering samples. The
Company continued to increase marketing and branding expenditures, however incurred lower
administration costs in Q2-22 after the renewal of insurances and higher corporate costs related to
increased shareholder activity in Q1-22.
Cash used for operating activities includes payments to BrainChip’s Board of Directors totaling
US$275,000 as noted in item 6.1 of the accompanying Appendix 4C, comprising fees for Non-
Executive Directors and salaries for Executive Directors.
Cash inflows from financing activities included $0.22M as a result of the exercise of Long-Term
Incentive Plan (“LTIP”) stock options.
BrainChip currently has entities in Perth, Australia; Laguna Hills, California (United States);
Toulouse, France; and Hyderabad, India. The Company continues to maintain strict cost controls,
as well as adhering to travel restrictions and precautionary measures related to the COVID-19
pandemic.
The Company will continue to update the market on material events and maintain monthly
Podcasts designed to inform all constituents of the Company’s progress and industry trends.
This announcement is authorised for release by the BRN Board of Directors.
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