UNITEDSTATES

SECURITIESAND EXCHANGE COMMISSION

Washington,D.C. 20549

 

FORM6-K

 

REPORTOF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

Forthe month of October, 2025

 

CommissionFile Number: 001-41856

 

CarbonRevolution Public Limited Company

(Exactname of registrant as specified in its charter)

 

10Earlsfort Terrace

Dublin2, D02 T380, Ireland

(Addressof principal executive office)

 

Indicateby check mark whether the registrant files or will file annual reports under cover of

Form20-F or Form 40-F:

 

Form 20-F☒  Form 40-F ☐

 

 

 

 
 

 

INFORMATIONCONTAINED IN THIS REPORT ON FORM 6-K

 

Unauditedinterim financial results for the six months ended December 31, 2024

 

CarbonRevolution Public Limited Company (the “Company”) is furnishing this Form 6-K to provide its unaudited interim financialresults as of, and for the six months ended December 31, 2024, which are furnished as Exhibit 99.1.

 

TheCondensed Consolidated Statement of Financial Position and Condensed Consolidated Statement of Profit or Loss and Other ComprehensiveIncome contained herein do not include accompanying notes or management discussion and analysis. They have been prepared on a going concernbasis but there has been no assessment of the appropriateness of preparation on a going concern basis and they do not imply any representationon the Company’s ability to operate as a going concern for the next 12 months. They have not been reviewed or audited by the Company’sauditor. An assessment of the appropriateness of presentation on a going concern basis is anticipated to be undertaken as part of theaudit of the financial statements for the fiscal year ended June 30, 2025, to be included in the Company’s Annual Report on Form20-F for such period.

 

Theaccounting policies of the Company described in each of subsection E, “Critical Accounting Policies and Estimates” of Item5 – Operating and Financial Review and Prospects and in the notes to the Company’s audited financial statements set forthin Item 18 – Financial Statements of the Company’s FY24 Annual Report on Form 20-F filed with the SEC on May 14, 2025, remainapplicable.

 

Restatementof December 31, 2023 comparative financial information

 

TheCondensed Consolidated Statement of Profit or Loss and Other Comprehensive Income includes comparative financial information for thesix months to December 31, 2023. These figures were previously disclosed on July 26, 2024. On November 1, 2024 the Company disclosedamendments to the December 31, 2023 financial information. Those amendments are reflected in the reports contained herein. A furtheradjustment was made to the December 31, 2023 figures to reflect an increase in depreciation of $1.15 million USD to correct capitalizationdates, impacting cost of goods sold.

 

Programcancellations and important business update

 

Aspreviously disclosed in the Company’s release of July 25, 2025, the Company has a number of new programs entering, or expectedto enter, production in the near-term, however, as a result of a decline in the volume of wheels ordered or projected to be ordered bycertain customers, the Company revised its revenue forecasts downward and slowed its initial short-term expansion plans.

 

TheCompany has continued to experience lower than expected demand for certain programs, especially those tied to the EV space. The weakeningof the broader EV market has led to the early cancellation of two programs by a customer, which the Company had initially expected tocontribute substantial wheel volumes. The Company is pursuing claims in relation to these cancelled programs.

 

Inaddition, as disclosed in the Company’s release of June 3, 2025, the Company is currently not in compliance with certain Nasdaqcontinued listing requirements. The Company has submitted a plan of compliance to Nasdaq where it has sought an extension in accordancewith its plan and is waiting for Nasdaq’s determination. However, even if such plan is accepted, the Nasdaq staff only has thediscretion to grant an exception for regaining compliance until November 26, 2025.

 

Notwithstandingthe additional US$5 million of OIC funding announced today (and the expected release of a further US$2 million of OIC funding), the Companyexpects that it may need to obtain additional funding in the short term and is actively seeking other strategic alternatives to be completedwithin this fiscal year (ending June 30, 2026).

 

Inorder to obtain sufficient liquidity to fund its business and operations, the extent of which funding need is partially dependent uponthe outcome of the customer claims being pursued by the Company mentioned above, as well as to contribute towards regaining compliancewith Nasdaq continued listing requirements, the Company is exploring other potential strategic and financing options, a portion of whichmay need to be obtained significantly earlier than the end of the Company’s fiscal year. The Company makes no assurances that itwill be able to secure any of the aforementioned on satisfactory terms, or at all.

 

 
 

 

EXHIBIT INDEX

 

Exhibit No.Description
99.1 Unaudited Interim Financial Results as of, and for, the Six Months Ended December 31, 2024

 

 
 

 

SIGNATURES

 

Pursuantto the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf bythe undersigned, thereunto duly authorized.

 

  Carbon Revolution Public Limited Company
     
Date: October 31, 2025  
  By: /s/ Donald Hampton, Jr.
  Name: Donald Hampton,Jr.
  Title: Chief Executive Officer

 

 

 

Exhibit99.1

 

CarbonRevolution Public Limited Company

CondensedConsolidated Statement of Financial Position

(Unaudited)

 

   US $’0001   AU $’000 
   31 Dec 2024   30 June 2024   31 Dec 2024   30 June 2024 
Current assets                    
Cash and cash equivalents   2,108    2,594    3,012    3,705 
Restricted trust funds   1,798    472    2,568    674 
Receivables   5,398    5,976    7,713    8,538 
Contract assets   12,855    9,766    18,364    13,952 
Inventories   22,410    20,185    32,014    28,836 
Other current assets   489    1,535    699    2,193 
Total current assets   45,058    40,528    64,370    57,898 
Non-current assets                    
Restricted trust funds   3,019    4,901    4,313    7,001 
Total non-current assets   3,019    4,901    4,313    7,001 
Total assets   48,077    45,429    68,683    64,899 
                     
Current liabilities                    
Payables   43,488    31,671    62,128    45,247 
Borrowings   9,193    9,810    13,131    14,013 
Lease liability   517    494    738    705 
Contract liabilities   4,360    771    6,229    1,102 
Deferred income   2,074    1,480    2,963    2,114 
Provisions   2,733    3,051    3,904    4,359 
Total current liabilities   62,365    47,277    89,093    67,540 
Non-current liabilities                    
Borrowings   137,671    98,597    196,673    140,853 
Payables   846    10,635    1,209    15,193 
Derivative liability   897    372    1,282    531 
Lease liability   4,820    4,943    6,886    7,061 
Contract liabilities   -    3,169    -    4,527 
Deferred income   9,782    9,326    13,974    13,323 
Provisions   2,202    1,984    3,145    2,834 
Total non-current liabilities   156,218    129,026    223,169    184,322 
Total liabilities   218,583    176,303    312,262    251,862 
Net (liabilities) / assets   (170,506)   (130,874)   (243,579)   (186,963)
                     
(Deficiency in equity) / equity                    
Contributed equity   -    -    -    - 
Warrants   9,014    5,253    12,877    7,504 
Reserves   1,926    1,392    2,752    1,989 
Accumulated losses   (181,446)   (137,519)   (259,208)   (196,456)
Total (deficiency in equity) / equity   (170,506)   (130,874)   (243,579)   (186,963)

 

 

1AllUSD figures converted from AUD to USD at 0.7 for convenience.

 


1
 

 

CarbonRevolution Public Limited Company

CondensedConsolidated Statement of Profit or Loss and

OtherComprehensive Income

(Unaudited)

 

   US $’0002   AU $’000 
   Six Months Ended December 31,   Six Months Ended December 31, 
   2024   20233   2024   20233 
Sale of wheels   26,912    23,881    38,446    34,116 
Engineering services   941    1,038    1,344    1,483 
Sale of tooling   4,192    931    5,988    1,330 
Revenue   32,045    25,850    45,778    36,929 
Cost of goods sold   (31,273)   (37,032)   (44,676)   (52,903)
Impairment expense   (3,172)   -    (4,532)   - 
Gross margin   (2,400)   (11,182)   (3,430)   (15,974)
                     
Other income   907    4,293    1,296    6,133 
Finance income   39    -    56    - 
Operational expenses   (3,370)   (1,884)   (4,814)   (2,692)
Research and development   (4,585)   (5,253)   (6,550)   (7,504)
Administrative expenses   (7,512)   (5,783)   (10,732)   (8,261)
Marketing expenses   (514)   (456)   (734)   (653)
Capital raising transaction costs   (1,525)   (21,043)   (2,179)   (30,061)
Finance costs   (24,025)   (12,568)   (34,321)   (17,954)
                     
Loss before income tax expense   (42,985)   (53,876)   (61,408)   (76,966)
Income tax expense   -    -    -    - 
Loss for the period after income tax   (42,985)   (53,876)   (61,408)   (76,966)
                     
Other comprehensive income                    
Items that may be reclassified subsequently to profit or loss:                    
Foreign currency translation differences - foreign operations   695    509    993    727 
Other comprehensive income   695    509    993    727 
                     
Total comprehensive loss for the period, net of tax   (42,290)   (53,367)   (60,415)   (76,239)

 

 

2All USD figures converted from AUD to USD at 0.7 for convenience.

3Restated

 

2