Gelion beats FY26 forecasts as £2m Mitsui deal and EV partnership target FY27 revenue

Gelion expects its first commercial revenue in FY2027 via a £2 million Mitsui Kinzoku deal and an automaker proof-of-concept.

• FY26 beat estimates: Gelion reported total income of £2.5 million (~70% above market expectations per CFO, though notes cite 17%) and an adjusted EBITDA loss of £4.4 million, 10% better than expected.
• Cash position: Gelion ended the period with £9.6 million pro forma cash and equivalents, including earned-but-unreceived R&D tax benefits and grants; non-dilutive UK/Australian government funding rose to ~14% of the mix.

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