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Aquirian Limited
(Sydney:AQN)
Aquirian Limited (AQN) vs. iShares MSCI Australia ETF (EWA)
Aquirian Limited Business Overview & Revenue Model
Aquirian Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 26.01M | 26.01M | 23.07M | 26.16M | 17.43M | 12.46M |
| Gross Profit | 4.50M | 4.50M | 13.10M | 15.62M | 9.97M | 2.03M |
| EBITDA | -914.70K | -914.70K | 2.06M | 3.59M | 2.75M | 1.74M |
| Net Income | -3.41M | -3.41M | -649.00K | 546.82K | 558.15K | 623.36K |
Balance Sheet | ||||||
| Total Assets | 34.54M | 34.54M | 33.38M | 25.72M | 22.97M | 8.40M |
| Cash, Cash Equivalents and Short-Term Investments | 6.85M | 6.85M | 4.73M | 3.32M | 7.99M | 1.69M |
| Total Debt | 15.10M | 15.10M | 16.07M | 9.30M | 7.07M | 1.74M |
| Total Liabilities | 21.75M | 21.75M | 22.12M | 13.73M | 11.92M | 5.98M |
| Stockholders Equity | 12.79M | 12.79M | 11.27M | 11.99M | 11.05M | 2.42M |
Cash Flow | ||||||
| Free Cash Flow | -1.68M | -1.68M | 3.06M | -4.98M | -1.33M | 465.41K |
| Operating Cash Flow | 1.16M | 1.16M | 6.79M | 793.75K | 2.10M | 1.25M |
| Investing Cash Flow | -2.46M | -2.46M | -2.27M | -5.65M | -6.07M | -1.19M |
| Financing Cash Flow | 3.41M | 3.41M | -3.12M | 184.28K | 10.28M | -156.35K |
Aquirian Limited Technical Analysis
Aquirian Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | AU$50.89M | 13.18 | 17.38% | 0.54% | -8.28% | 89.71% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
57 Neutral | AU$19.07M | 21.88 | 6.19% | ― | -6.52% | -20.79% | |
54 Neutral | AU$40.09M | -2.57 | ― | ― | -32.52% | -300.55% | |
53 Neutral | AU$32.32M | -13.57 | -16.00% | ― | 11.53% | 46.15% | |
50 Neutral | AU$42.92M | -10.53 | -28.36% | ― | 12.74% | -392.59% | |
45 Neutral | AU$15.87M | 15.63 | 6.09% | ― | -23.90% | 37.93% |
Aquirian Limited Corporate Events
Aquirian Limited has announced a change in the director’s interest, specifically involving Gregory Patching. The company disclosed that Patching has acquired 497,949 Performance Rights – Class E under the Employee Awards Program, with no securities disposed. This change reflects an adjustment in Patching’s direct interests in the company, potentially impacting his influence and stake within Aquirian Limited.
Aquirian Limited has announced the issuance of 976,691 unquoted equity securities in the form of Performance Rights Class E as part of an employee incentive scheme. This move is intended to enhance employee engagement and align their interests with the company’s long-term goals, potentially impacting the company’s operational efficiency and market positioning positively.
Aquirian Limited, a company listed on the ASX, announced a change in a director’s interest following the cancellation of Class B Performance Rights on August 27, 2025. The company acknowledged an administrative oversight for not lodging the necessary Appendix 3Y forms at the time of cancellation but has since rectified the issue. Aquirian assures stakeholders that it has policies and procedures in place to ensure compliance with disclosure obligations and considers this an isolated incident.
Aquirian Limited has issued a cleansing notice under section 708A of the Corporations Act 2001, related to securities issued as disclosed in their recent Appendix 2A. The company confirms compliance with relevant provisions of the Act and assures that there is no excluded information that investors would expect in a disclosure document. This announcement underscores Aquirian’s commitment to transparency and regulatory compliance, potentially reinforcing stakeholder confidence in its operations.
Aquirian Limited has announced the application for quotation of 43,681 ordinary fully paid securities on the ASX, effective December 2, 2025. This move is part of an employee incentive scheme and indicates the company’s ongoing efforts to enhance its market presence and operational capabilities, potentially impacting its stakeholders by increasing liquidity and employee engagement.
Papyrus Australia Limited, a company known for its innovative use of plantation waste conversion technology, has signed a contract with TBS Mining Solutions Pty Ltd, a subsidiary of Aquirian Limited, to supply biodegradable Collar Keeper® products. This agreement marks a significant step for Papyrus as it transitions from research and development to commercial operations, with an anticipated revenue of $4.2 million over an initial 3.5-year term. The contract positions Papyrus as the exclusive global manufacturer of these environmentally friendly products, supporting sustainable mining practices and potentially expanding its technology on a global scale.
Aquirian Limited has appointed Adrian Mason as Executive Director – Engineering and Operations, effective February 2026, to lead the company’s growth projects and oversee operations. With over 20 years of experience in senior roles at Orica Limited, Mason’s expertise is expected to drive Aquirian’s strategies in energetics and technology, enhancing its industry positioning and operational capabilities. Additionally, the commencement date for Non-Executive Director Ms. Rybarczyk has been revised to June 2026.
Aquirian Limited has released a presentation at the Euroz Hartleys Industrial & Resources Forum, detailing its current operations and strategic focus on innovation and growth. The document serves as an informational overview rather than an investment prospectus, emphasizing the company’s commitment to transparency while highlighting the inherent risks and uncertainties involved in its business activities.
Aquirian Limited has announced the appointment of Tanya Rybarczyk as a Non-Executive Director, effective December 1, 2025. With over 30 years of experience in finance and strategic roles, including senior positions at Wesfarmers and Dyno Nobel Ltd, Rybarczyk brings valuable expertise in finance, strategy, manufacturing, and commercialization to Aquirian’s board. Her appointment is expected to bolster the company’s execution of its Full Potential strategy, enhancing its industry positioning and operational capabilities.
Aquirian Limited has completed a strategic review of its Wubin Energetics Precinct and signed a non-binding framework agreement with Hongda Civil Blasting Group to form a 50:50 joint venture. This collaboration aims to establish an automated electronic detonator manufacturing facility, enhancing Aquirian’s market presence and supply chain security. The joint venture will leverage Hongda’s advanced technology and manufacturing expertise, potentially producing up to 10 million detonators annually. This initiative is part of Aquirian’s ‘Full Potential’ growth strategy, which also includes expanding storage capabilities and entering a joint venture to integrate drilling and blasting services, thereby strengthening its industry positioning and supporting local manufacturing capabilities.
Aquirian Limited announced the successful passage of all resolutions at its Annual General Meeting, with Resolutions 5 and 6 passed as special resolutions. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives, potentially enhancing its market position and operational capabilities.
Aquirian Limited has announced that Ms. Alexandra Atkins has ceased to be a director of the company as of October 27, 2025. This change in the board of directors may impact the company’s governance and strategic direction, although no specific implications for stakeholders have been detailed in the announcement.
Aquirian Limited announced a change in the interests of its director, David Kelly, involving the disposal of 2,995,175 ordinary shares valued at $1,287,925.25. This transaction reflects a significant adjustment in Kelly’s holdings, reducing his direct ownership to 3,004,825 ordinary shares while maintaining his indirect holdings and performance rights. The announcement highlights a strategic financial decision that may impact the company’s market perception and stakeholder confidence.
Aquirian Limited has issued a cleansing notice under section 708A of the Corporations Act 2001, indicating that the securities were issued without disclosure to investors. The company confirms compliance with relevant provisions of the Act and states there is no excluded information that investors would expect in a disclosure document. This announcement underscores Aquirian’s commitment to regulatory compliance and transparency, potentially reinforcing stakeholder confidence in its operations.
Aquirian Limited has announced the quotation of 5,200,000 new ordinary fully paid securities on the Australian Securities Exchange (ASX) under the code AQN. This issuance is part of a previously announced transaction, and it reflects the company’s ongoing efforts to expand its market presence and enhance its financial flexibility.
Aquirian Limited has announced a strategic partnership with Topgroup, involving a $2.3 million placement and a non-binding Memorandum of Understanding to form a 50:50 joint venture named Drillforce WA. This collaboration aims to integrate Aquirian’s technology and supply chain with Topgroup’s operational expertise to deliver comprehensive drill and blast services. The partnership is expected to enhance Aquirian’s market position by leveraging existing assets and technology, offering a low CAPEX growth model, and applying its proprietary Collar Keeper® System across Topgroup’s new drill fleet. The funds from the placement will be used to accelerate the commercialization of Aquirian’s technology portfolio.
Aquirian Limited has issued a cleansing notice under section 708A of the Corporations Act, indicating that the company’s securities were issued without disclosure to investors under Part 6D.2 of the Act. The notice confirms that Aquirian is in compliance with relevant provisions of the Corporations Act and that there is no excluded information that investors would expect in a disclosure document. This announcement reflects Aquirian’s adherence to regulatory requirements, potentially impacting investor confidence and transparency in its operations.
Aquirian Limited reported a 16.7% increase in revenue, reaching $8.4 million, and highlighted progress in its strategic initiatives, including the approval of the Wubin emulsion upgrade licence and the initiation of its first full down-hole service. The company is advancing its technology offerings with the completion of the production-ready Automated Collar Keeper® System and is designing an upgraded version to meet growing demand. The appointment of a new General Manager – Commercial aims to drive the company’s strategy in energetics and technology, with a focus on expanding partnerships in the Latin American market. These developments are expected to enhance Aquirian’s operational capabilities and market positioning.
Aquirian Limited announced the retirement of Ms. Alexandra Atkins from its Board, effective 27 October 2025. Ms. Atkins, who has been an Independent Non-Executive Director and Chair of the Risk Committee, has significantly contributed to the company’s governance and strategic oversight since its ASX listing. Her departure allows her to focus on her PhD studies. The board expressed gratitude for her extensive expertise in corporate governance and risk management, which has been instrumental in shaping the company’s processes.