Mayank Bansal, CFA
Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
Weebit Nano Shares Surge 17% as Second Customer Begins ReRAM Validation
Highlights
Weebit Nano Ltd (ASX: WBT) shares rose sharply on 16 October 2026 after the semiconductor memory technology developer released its quarterly activities report for the three months ended 30 September 2026. The company reported progress towards commercialising its Resistive Random-Access Memory (ReRAM) technology, alongside new opportunities in AI computing. Weebit Nano shares were trading at AU$2.880, up AU$0.419 or 17.073%, according to the supplied market data.
Second Customer Advances Towards Production
Weebit Nano said a second existing customer received its first semiconductor samples from a fabrication facility during the September quarter and began silicon validation. Initial testing showed that the chip was operating well and successfully running software using integrated Weebit ReRAM.
The customer is targeting production in calendar year 2027, although this remains subject to completing validation. The milestone adds to progress with other customers and represents another step towards potential mass production.
The company also continued working with DB HiTek following qualification, with efforts focused on preparing the technology for high-volume manufacturing. Meanwhile, onsemi began qualifying Weebit ReRAM during the quarter, while engagement with Texas Instruments continued as planned.
New AI Agreements Expand Application Opportunities
Weebit Nano signed agreements with two new AI customers during the quarter to assess its in-memory computing (IMC) technology for different applications, meeting one of its key targets for calendar year 2026. The company also reported positive findings from a study conducted by a US-based customer examining ReRAM for an IMC accelerator intended for harsh environments. For the AI task assessed, performance projections indicated more than 80 times lower power consumption than a graphics processing unit-based implementation. The analysis also projected approximately 280 times greater compute efficiency than a field-programmable gate array-based accelerator, with inference latency potentially falling from tens of milliseconds to below one millisecond.
However, Weebit Nano acknowledged that substantial research and development remains before a fully commercial IMC solution is available.
Strong Cash Position Supports Development
Weebit Nano recorded customer cash receipts of AU$6.1 million during the quarter, comprising licensing and non-recurring engineering fees. It also received approximately AU$3.7 million from a research and development-related tax rebate for its French subsidiary.
Research and development cash payments totalled AU$3.7 million, while net operating cash outflow reached AU$3.17 million. Cash and cash equivalents stood at AU$164.2 million at quarter-end, compared with AU$167.4 million at the beginning of the period. The company reaffirmed its previously announced revenue guidance of at least AU$7.1 million for the first half of calendar year 2027.
Outlook
Weebit Nano’s latest report highlights progress in customer validation, qualification and AI-related research. The next milestones include completing silicon validation, advancing customer qualification and progressing development towards commercial in-memory computing applications.
Note- All data presented is based on information available at the time of writing.
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