Quantum Base Holdings plc

Licence/royalty fees from framework and call-off agreements with security printers

Revenue arises from royalties earned on the Group's proprietary technology, licensed to commercial partners under framework and call-off agreements; usage-based royalties based on items produced or activated

Integration and professional services

Revenue from configuration, implementation, or other activities necessary to enable a customer to use the Group's proprietary technology, on time-and-materials or milestone basis

Admission-related costs and share-based payment charges

Administrative expenses rose to £5.1m (2024: £1.5m), driven by £2.8m share-based payment charge and £0.9m costs of Admission to AIM

Asset-light, high-margin licensing model at scale

Design-and-licence model targets high-margin, predictable income streams as partnerships scale, with Q-ID applied via existing high-speed printing with no major capex

£930k charge: Costs of Admission to AIM (listing costs)

Quantum Base enters FY26 with a proven and commercially deployed technology platform, strengthened governance and a solid balance sheet following its successful AIM Admission; immediate focus on expanding within the global security-printing market while building a pipeline of additional international partners.

Note 30 states there were no post-reporting-date events to note (formal disclosure note)

No ordinary dividends were paid during the year and the directors do not recommend a final dividend; no agreements, undertakings or commitments exist that would require or give rise to dividend payments in future periods

Auditor Crowe U.K. LLP gave an unmodified opinion but drew attention to a material uncertainty related to going concern (note 1.3): proportion of future forecast revenues that are contractually committed remains limited; mitigating actions include managing discretionary expenditure, seeking grant/collaborative funding, raising additional equity and invoice finance. Key audit matters: capitalisation/valuation of development costs under IAS 38, and control-environment weaknesses requiring significant improvement (increased sample testing, revised risk assessment from medium to high). Group materiality £48,000 (approx. 5% of draft consolidated loss); performance materiality £28,800 (Group) / £24,000 (Parent).