Ceres Power Holdings plc (CRPHY) Q4 2025 Earnings Call Transcript

SA Transcripts159.16K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Ceres Power Holdings plc (CRPHY) Q4 2025 Earnings Call March 26, 2026 5:30 AM EDT Company Participants Philip Caldwell - CEO & Executive DirectorStuart Paynter - CFO & Director Conference Call Participants Christopher Leonard - UBS Investment Bank, Research DivisionAlex Smith - Joh. Berenberg, Gossler & Co. KG, Research DivisionAlexandro da Silva O'Hanlon - Panmure Liberum Limited, Research DivisionLacie Midgley Presentation Operator Good morning, ladies and gentlemen. Welcome to the Ceres 2025 Full Year Results Investor Presentation. [Operator Instructions] I'd now like to hand over to the management team, Stuart, Phil, good morning. Philip CaldwellCEO & Executive Director Good morning, everybody, and thank you for joining us for the 2025 full year results presentation. I'll talk you through an update on the company and the strategy to begin with, and then Stuart will obviously talk you through the financial numbers, and we'll obviously go into Q&A at the end as usual. So at Ceres, we're operating on 3 strategic imperatives. The first one is signing more licensees. So new manufacturing license partners is a key focus for us as a business. The second is once we have those partners, bringing those partners to market. So that's obviously assisting them as they scale up and put in capacity, but also actually helping to stimulate demand, which actually helps pull through the products that we're developing with partners. And the third is obviously technology leadership. We believe we have the best solid oxide technology in the world. We have a single stack platform, which we're actually going to be launching in April. And we need to maintain that technology leadership advantage because that's what our partners come to rely on from Ceres. So over the last 12 months, we've made significant progress on all these activities. The first thing to say