Norsk Titanium AS reported a 38% year-over-year increase in revenue and a narrowing of losses for the first half of 2026, reflecting progress in its aerospace and defense programs.
Total revenue and other income reached $2.9 million in H1 2026, up from $2.1 million in the same period of 2025, according to an earnings call transcript. Serial production revenue rose 29% to $1.1 million, supported by Airbus volumes and recovery at Hittech. Development revenue surged 50% to $1.7 million, driven by work with Boeing and Safran.
Operating expenses declined to $15 million from $17.2 million in H1 2025, contributing to an EBITDA loss of $12.1 million—an improvement of approximately $3 million year-over-year. The company’s comprehensive loss narrowed to $12.2 million from $14.5 million in the prior-year period. Cash used in operations fell to $11.8 million, down from $16.8 million, while the ending cash balance stood at $19.6 million as of June 30, 2026.
Cash burn averaged $2.1 million per month, a reduction from $2.9 million in H1 2025. The company secured $13.2 million from the first tranche of a $27.3 million private placement, with a pro forma cash balance of roughly $35 million if the full amount had been received by June 30. Market capitalization was reported at $13.07 million.
The Plattsburgh production center achieved Nadcap accreditation, and Norsk Titanium’s RPD technology was listed in the MMPDS handbook, a milestone that supports part design using certified data. An RPD machine was deployed at Airbus’s Varel facility in Germany, with deployment costs covered by Airbus. The company also received a $4.2 million award from the U.S. Department of Defense for submarine and navy applications over an 18-month program and was recognized with an innovation award by Safran Landing Systems.
Looking ahead, Norsk Titanium expects an Airbus RPD machine acceptance in the third quarter of 2026, with a decision on Airbus Wave 3 expected by year-end. The company targets breakeven by 2028 at 25% capacity utilization and aims for a 30% EBITDA margin by 2030, alongside improving contribution margins from about 30% to 50%.
