BrainChip Holdings (ASX:BRN) reported a $1.9 million unrealized loss in the December 2024 quarter, compared with a $900,000 gain in the prior quarter, according to a Tuesday Australian bourse filing.
It reported net operating cash outflows of $4.1 million in the period, up from $3.4 million in the prior quarter.
The technology firm said it is currently in talks with a major defense industry contractor to enter into a subcontractor agreement for a $1.8 million contract awarded by the US Air Force Research Laboratory under a US government program.
The firm's shares fell 13% in recent trading on Tuesday.
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