Weebit Nano Q3 FY25 Quarterly Activities Report

Weebit transitions to its next phase through commercial, technological, and operational advances Completed AEC-Q100 qualification, progressing well at onsemi, and setting up infrastructure for growth

April 30, 2025 – Weebit Nano Ltd (ASX: WBT, Weebit or Company) provides this activity report for the quarter ended 31 March 2025 (Q3 FY25), along with the Company’s Appendix 4C cash flow report.

Weebit Nano CEO Coby Hanoch said: “Weebit has made significant progress this quarter. The signing of the licence agreement with onsemi, followed by achieving AEC-Q100 qualification, bolstered industry interest, resulting in progress with several other potential partners. AEC-Q100 qualification of our ReRAM shows that the non-volatile memory technology is reliable at a 150°C operating temperature, following extended endurance of 100K cycles, which addresses the NVM requirements of most semiconductor applications.

“The Weebit team is working closely with onsemi to integrate Weebit ReRAM with the Treo platform to bring the technology to life for onsemi’s products and for its customers. This work is progressing very well. In addition, we already have fully functional wafers manufactured at DB HiTek and are preparing to start qualification.

“As we are progressing with additional fabs and expect to sign more agreements this year, we are now setting up the infrastructure to support multiple fab projects in parallel. A key step in this direction was the appointment of ex-fab manager Lilach Zinger as our new VP of Customer Success. Following her long tenure at Tower Semiconductor, she knows exactly what our customers’ challenges are and can drive management of multiple fab projects while ensuring their success.

“During the quarter, Weebit participated in two major conferences, the Consumer Electronics Show in Las Vegas and the Embedded World Conference in Germany. At the Embedded World show, Nanoveu’s EMASS, a provider of ultra-low-power AI computing, showed a demo of its gesture recognition AI chip working with Weebit ReRAM. Like many companies in the industry, EMASS decided to move from MRAM to ReRAM. The demo is a great example of how Weebit ReRAM can enable ultra-low-power inference at the edge.”

onsemi progress update

The technology transfer project with onsemi (Nasdaq: ON), a tier-1 semiconductor supplier that licensed Weebit’s ReRAM technology, has launched with great momentum. Multiple joint teams were set up to drive the technology transfer, design, and other tasks in parallel. These teams are already working closely and progressing well on integrating Weebit ReRAM with onsemi’s TreoTM platform to provide a cost-effective and low-power NVM solution that has strong retention at high temperatures.

Since onsemi is an integrated device manufacturer (IDM), manufacturing its own products, the path to mass production is expected to be faster, resulting in quicker royalty generation for Weebit. Weebit will earn revenue from licencing, non-recurring engineering (NRE) fees, and production volume royalties under the agreement over time. The agreement is long-term due to the lifespan of onsemi products.

AEC-Q100 qualification

Weebit proved the robustness of its ReRAM technology, demonstrating its ability to withstand high operating temperatures and extended endurance. Based on the AEC-Q100 automotive standard, the technology was qualified for 100K high-temp endurance cycles, extended retention at 150⁰C and high-temperature operating life. Such conditions go beyond consumer grade requirements and cover an extremely broad range of applications in automotive, industrial and the internet-of-things (IoT).

The Automotive Electronics Council (AEC) was formed by leading automotive companies to establish common part-qualification and quality-system standards. Since its inception, numerous significant entities in the automotive industry have joined. AEC-Q100 is the standard for automotive stress test qualification for integrated circuits (ICs) and is the most commonly accepted in the industry. Achieving AEC-Q100 qualification also highlights the robustness of Weebit ReRAM for other markets and applications, such as consumer and medical devices.

DB HiTek qualification

Weebit and DB HiTek continued to make significant progress in the technology transfer project and already have fully functional wafer lots produced at DB HiTek. The companies are now preparing for qualification, which is projected to be completed in 2025.

Live demonstration of ReRAM and edge AI at Embedded World

At the Embedded World Conference & Exhibition in Germany in March, Nanoveu’s (ASX: NVU) EMASS, a provider of ultra-low-power AI computing, demonstrated their gesture recognition chip working with Weebit ReRAM.

The combination of Weebit ReRAM with EMASS’ ultra-low power AI system-on-a-chip (SoC), both at a 22nm process node, enhances energy efficiency, reduces power consumption, and enables cost effective edge AI solutions. EMASS, like many other companies in the industry, is moving away from MRAM to ReRAM, recognising ReRAM’s strong applicability to inference-at-the-edge AI applications.

Setting up the infrastructure to drive growth

As Weebit is now engaged with multiple customers and expects to close additional agreements with other fabs this year, it has taken steps to set up the infrastructure, methodologies, procedures and automation to make sure multiple customer projects run efficiently in parallel. Weebit appointed Lilach Zinger as Vice President, Customer Success, to drive management of Weebit’s fab projects and set up the appropriate infrastructure. Lilach was previously VP Operations – Fab1 Manager at Tower Semiconductor and has deep experience in identifying and solving customers’ challenges while ensuring success.

Patent updates

During the quarter, Weebit was granted three new patents in various ReRAM-related domains such as manufacturing parameters, design techniques, and interfacing across key markets including China, the US, and Europe.

Strong cash position to fund growth

Key operating cash flow items for Q3 FY25 consisted of A$2.7 million received from customers. R&D expenses in the quarter amounted to A$0.67 million. Payments to related parties, including fees paid to Directors and the CEO’s payroll costs, totaled A$485,000. This resulted in a strong cash position of A$93.7 million as of 31 March 2025 to help fund further R&D and commercial activities.

As more agreements are signed, and Weebit progresses its work with different customers, the Company will unlock more milestones, triggering more payments from more customers.

Appendix 4C cash flow report

Appendix 4C cash flow report is available here

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