6K Additive Inc reported first-half 2026 revenue of $13.2 million, a 33% increase from the second half of 2025, as the company advanced its expansion plans in Burgettstown, Pennsylvania. Shares slipped 0.6% to $0.83 following the results, extending a pullback from a 52-week high of $1.09.
Gross margin improved to break-even from a negative 19% in the prior-year period, a 1,900-basis-point swing, while operating loss narrowed 42% year-over-year to $7.2 million. Powder segment revenue rose 77% to $9 million and alloy segment revenue increased 66% to $4.2 million, reflecting broad-based demand. Total backlog reached nearly $12 million, including a powder backlog exceeding $10 million.
The company exited the quarter with an annualized revenue run rate of $28 million and cash and equivalents of $22.1 million, with no debt. Operating cash flow remained negative at $6.3 million in the first half, while capital expenditures totaled $1 million. Full-year 2026 CapEx is guided at $10 million to $11 million, with 2027 expected to reach $12 million.
Capacity expansion at the Burgettstown campus is underway, with construction progressing toward a target of 6,000 metric tons of annual capacity across all product lines. Powder capacity is set to scale more than fivefold to over 1,000 metric tons, with meaningful additions expected in 2027. The company serves over 100 customers, maintains a repeat order rate above 90%, and reports a qualified sales pipeline exceeding $70 million, with total annual buying potential of $260 million.
Government funding initiatives advanced in the period, including over $13.7 million in remaining Defense Production Act Title III grants and nearly $4 million in projects with the Defense Logistics Agency focused on upcycling U.S. Department of Defense scrap metals. The Export-Import Bank of the United States approved a $27 million loan facility, currently in final documentation.
Chief Executive Officer Frank highlighted the company’s materials in high-demand applications, stating they are used in aerospace, medical devices, and defense systems. Chief Financial Officer Jonathan noted the gross margin improvement as a key milestone achieved prior to full consolidation and capacity expansion.
