Titomic Limited, among ASX listed companies is stimulated by increased demand for cold spray technology and other key partnerships, including in the U.S. defense and aerospace sectors. One of the upcoming growth stocks, it is extending globally, securing major orders, launching new systems, and opening a manufacturing facility in Alabama to support continued growth.
Titomic Limited (ASX: TTT)
Titomic Limited (ASX: TTT) delivered a strong financial performance for FY 2024 with revenues up 127% to AUD 5.9 million. The order book for the company was also significantly growing, increasing to AUD 10.0 million, driven by key partnerships and increasing demand for its cold spray technology. This positive growth trajectory continued into Q1 FY2025, with Titomic securing over AUD 8.0 million in orders since March 2024.
Titomic can be considered as one of the best growth stocks to buy now because of its expansion into key markets, particularly in the U.S. defense and aerospace sectors. Notable achievements included the sale of a D523 cold spray system to Triton Systems for AUD 72,000, strengthening their growing partnership. Additionally, the joint venture with Repkon was launched with an AUD 2.3 million order for the TKF 1000 system, which will be used in a hybrid cold spray manufacturing facility in Turkey. This marks a significant step in the commercialization of Titomic's cold spray technology, with the system set to improve manufacturing capabilities and performance for high-performance parts like barrels.
Titomic is one of growing companies to invest in as it is also advancing in the global oil and gas market with the sale of its first D623 cold spray system into Australia for AUD 174,000. The system will be utilized for corrosion resistant coatings, will help extend the lifespan of critical oil and gas assets. The company’s growing footprint in the defense sector was further solidified with the sale of a D523 system to the U.S. Navy’s NAVSEA (Naval Sea Systems Command), marking Titomic’s first contract with the U.S. Navy. Titomic is also exploring additional opportunities with NAVSEA to integrate its technology into various naval applications, including coating and repair solutions.
Innovation remains a core focus for Titomic, as evidenced by the introduction of an augmented reality (AR) enhancement for its D523 cold spray system. This innovative AR suite provides real-time system data to improve maintenance, repair, and operational safety. The system is designed to streamline operations across sectors like aerospace, automotive, and energy. Titomic received a research grant from CSIRO to develop digital twin technology, aiming to improve its cold spray systems and boost their market potential.
To serve an increasing demand for its cold spray solutions, primarily in the US defense and aerospace industries, Titomic is a one of the growing companies to invest in as it is establishing a new headquarters and manufacturing facility in Huntsville, Alabama. This move is expected to strengthen Titomic's position as a leader in cold spray technology and manufacturing. While expanding globally, the company will also focus on managing its cash flow carefully as it invests in its U.S. operations and growth plans.
Source: Company’s Report
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