Losses continue at Weebit but memory qualification expected

Business news | March 3, 2025

By Peter Clarke

Analog foundry EDA & CAD tools Memory & Data Storage

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Weebit Nano Ltd. (Hod Hasharon, Israel) continues to pile up losses but said it expects to qualify its non-volatile ReRAM technology with foundry DB Hitek during 2025.

Weebit made a net loss of about US$14.1 million on sales of about US$420,000 in the first half of its 2025 fiscal year, which ended 31 December 2024. The loss was reduced from about US$15.7 million in 1H fiscal 2024. Although low, the sales were more than four times greater than in the first half of fiscal 2024.

Weebit is an Israel-headquartered startup listed on the Australian Stock Exchange that has developed a ReRAM technology. The company has licensed the technology to DB HiTek foundry and to OnSemi.

Weebit Nano signs onsemi for ReRAM license

In the previous fiscal year, ended June 30 2024, Weebit made a net loss of about A$41.2 million (about US$25.7 million) on sales revenue of A$1.0 million (about US$630,000)

Weebit said that a capital raise of A$50 million (about US$31 million) via a placement of shares, conducted in November 2024, had left the company with a strong cash balance of A$97 million (about US$60 million) as of 31 December 2024.

The company added that by the end of calendar 2024 it had completed approximately 88 percent of the performance obligations of the DB HiTek license agreement and expected to achieve qualification of the IP during 2025.

“The A$50 million raise resulted in a healthy cash position, helping create a runway to source and complete new agreements with fabs and product companies, and ensures we continue to have a market-leading technology through R&D,” said Weebit Nano CEO, Coby Hanoch, in statement. “We have set ambitious targets for achieving further agreements with fabs and product companies by the end of 2025 and remain confident in this given the growing demand for more advanced non-volatile memory technology,” he added.

Weebit also said it has promoted Lilach Zinger to the position of vice president of customer success. Zinger was previously manager of Tower Semiconductor Fab 1.