Vast Renewables Ltd

CIK:0001964630|SEC Filings

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Revenue:
Revenue from customers	$ 342	$ 268	$ 163
Grant revenue	0	651	1,754
Total revenue	342	919	1,917
Expenses:
Employee benefits expenses	5,274	2,984	2,756
Consultancy expenses	3,943	2,134	1,934
Administrative and other expenses	10,529	8,080	1,618
Share based listing expenses	106,055	0	0
Raw materials and consumables used	815	600	241
Depreciation expense	84	49	47
Finance costs, net	1,947	2,518	2,119
Share in loss of jointly controlled entities	206	254	10
(Gain)/loss on derivative financial instruments	164,935	(105)	3
Total expenses	293,787	16,514	8,728
Net loss before income tax	(293,445)	(15,595)	(6,811)
Income tax benefit	0	378	618
Net loss	(293,445)	(15,217)	(6,193)
Other comprehensive income that may be reclassified to profit or net loss in subsequent periods:
Gain on foreign currency translation	(402)	891	1,379
Total comprehensive loss for the year	$ (293,848)	$ (14,326)	$ (4,814)
Loss per share:
Basic loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Diluted loss per share (in usd per share)	$ (17.50)	$ (7.08)	$ (2.88)
Weighted average number of common shares outstanding, basic (in shares)	16,764	2,149	2,149
Weighted average number of common shares outstanding, diluted (in shares)	16,764	2,149	2,149

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Cash from operating activities:
Net loss	$ (293,445)	$ (15,217)	$ (6,193)
Adjustments to net loss:
Share in loss of jointly controlled entities	206	254	10
Share based listing expenses	106,055	0	0
Share based payment expense	1,694	0	0
Depreciation and amortization expense	84	49	47
Non-cash finance costs recognised in profit or loss	2,046	2,518	2,118
Unrealised (gain)/loss on derivative financial instruments	164,935	(105)	3
Deferred income tax expense/(benefit)	0	(378)	(618)
Changes in operating assets and liabilities:
Decrease/(Increase) in trade and other receivable	(525)	(233)	68
(Increase)/decrease in prepayments	(1,843)	(13)	(28)
(Increase)/decrease in tax incentive receivable	638	76	35
Increase/(decrease) in trade and other payables	(19,126)	4,079	1,149
Deferred income	0	0	(1,037)
Increase/(decrease) in contract liabilities	2	(102)	104
Increase in provisions	170	66	17
Foreign exchange differences	(1,200)	(45)	215
Cash flows from (used in) operating activities	(40,309)	(9,051)	(4,110)
Cash flows from investing activities:
Acquisition of interest in joint venture	0	0	(67)
Interest received	98	9	1
Loans and advances paid to related parties	(227)	(144)	(43)
Purchases of property, plant and equipment	(115)	(33)	(15)
Net cash used in investing activities	(244)	(168)	(124)
Cash flows from financing activities:
Payment of deferred consideration	0	(607)	0
Proceeds from borrowings and other financial liabilities	40,285	11,515	1,838
Proceeds from Capital Reorganisation	9,203	0	0
Increase/(decrease) in lease liabilities	45	(37)	(45)
Net cash generated by financing activities	49,533	10,871	1,793
Net increase/(decrease) in cash and cash equivalents	8,979	1,652	(2,441)
Effect of exchange rate changes on cash	42	(15)	(234)
Cash and cash equivalents at the beginning of the year	2,060	423	3,098
Cash and cash equivalents at the end of the year	$ 11,081	$ 2,060	$ 423

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 11,081	$ 2,060
Trade and other receivables	839	314
R&D tax incentive receivable	0	638
Prepaid expenses	1,887	44
Total current assets	13,807	3,056
Non-current assets:
Investment in joint venture accounted for using the equity method	1,065	1,300
Loans and advances to related parties	456	225
Property, plant and equipment	62	30
Right-of-use-assets	379	45
Total non-current assets	1,963	1,600
Total assets	15,770	4,656
Current liabilities:
Borrowings and other financial liabilities	0	19,812
Derivative financial instruments	0	18
Trade and other payables	5,157	5,622
Contract liabilities	0	2
Lease liabilities	134	26
Warrants liability	3,670	0
Deferred consideration payable	959	955
Provisions	314	183
Total current liabilities	10,235	26,618
Non-current liabilities:
Lease liabilities	299	28
Borrowings and other financial liabilities	12,821	7,134
Provisions	156	117
Derivative financial instruments	561	174
Total non-current liabilities	13,836	7,453
Total liabilities	24,071	34,071
Equity:
Issued capital	297,618	2,354
Share-based payment reserve	24,294	4
Foreign currency translation reserve	2,883	3,285
Capital contribution reserve	0	4,591
Accumulated losses	(333,094)	(39,649)
Total deficit	(8,300)	(29,415)
Total liabilities and equity	$ 15,770	$ 4,656