The Titomic share, from the ASX listed companies, today announced having successfully co-developed and sponsored a new cold spray standard for aerospace, becoming one of best growth stocks to buy now.
Titomic Limited (ASX: TTT)
Titomic Limited (ASX: TTT), a global leader in cold spray solutions, announced on 11 December 2024 the successful co-development of SAE AMS7057 Cold Spray Additive Manufacturing Specification in partnership with SAE International. This milestone establishes a transformative standard for cold spray technology, boosting its adoption in highly regulated industries such as aerospace and defense. The Specification validates Titomic Kinetic Fusion® and streamlines certification processes, positioning the company as a preferred provider for sectors demanding stringent quality assurance. With this development, coupled with ongoing collaborations with major clients, including global aircraft manufacturers, Titomic is well-positioned to secure U.S. government support through strategic programs such as Department of Defense contracts and advanced manufacturing initiatives.
In Q1 FY2025, Titomic one of the growing companies to invest in, demonstrated significant progress, highlighted by an upsized AUD 30 million equity placement to establish U.S. operations in Huntsville, Alabama, and expand its global footprint. FY2024 revenue grew 127% to AUD 5.9 million, driven by robust demand for its cold spray solutions, with the order book reaching AUD 10 million. Notable achievements included a AUD 2.3 million order for a TKF 1000 system through its joint venture with Repkon and sales of D523 and D623 systems for defense, aerospace, and resource applications. Purchase orders totaling AUD 577k from U.S. aerospace and defense clients further underscored its growing presence in these key markets.
Titomic is among high growth stocks as it continues to innovate, advancing its technology with the introduction of an augmented reality enhancement for its D523 system, improving maintenance and operational safety. The company also demonstrated a cold spray backpack prototype designed for remote applications and joined DNV’s ProGRAM to standardize cold spray for oil and gas industries. The sale of the D623 system for corrosion-resistant coatings in Australia marked another milestone, expanding its reach into critical resource sectors. Additionally, the company secured a contract with the U.S. Navy’s NAVSEA, further cementing its reputation as a trusted partner for defense and aerospace solutions.
Looking forward, Titomic is poised for substantial growth across defense, aerospace, and industrial markets. Investments in U.S. expansion, combined with its innovative technologies, have fortified its position as a leader in cold spray solutions. However, managing cash flow effectively will be crucial as the company scales operations. Titomic is working to strengthen its financial position and sustain its momentum by optimizing costs, accelerating receivables, and building recurring revenue streams. Validated technology and a growing market presence are sure to propel the company toward opportunities that will drive long-term success across diverse industries.
Source: Company’s Report
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