Weebit - 2024 and beyond, page-1868

Today I celebrate 7 years at Weebit Nano Ltd! WOW, what a journey!

I joined when we had only 2 engineers and a preliminary technology. Today we have 43 employees, of which 33 are engineers (including 13 PhDs), 2 licensing deals, qualified technology and intensive sales activities. We’ve faced significant challenges, but as I always say - it is very hard to stop a committed team of real experts working together! We put together an amazing board, one that most companies can only dream of, and hired an unbelievable engineering and business staff. Everyone at Weebit is laser-focused on making the company successful. And I also can’t forget to mention our very close partners CEA-Leti and CEA-List who have been working with us all along.

When I joined the company, its market cap was A$11M. We had our ups and downs, and despite more recent price pressure, there has been considerable shareholder value creation in that time. After a lot of hard work with foundries, IDMs and product companies in the past year, we are now in a very strong position and are ready to burst forward. 2023- 2024 have been the years in which the market realized that ReRAM is the future, and many companies have shifted their NVM focus to it. Needless to say, we are engaged in many evaluations and negotiations now.

The upcoming year will be a year of significant change. As we sign up more customers, we will also start growing our revenues. The initial revenue reported in FY24 is the first drop, and while the growth will still be gradual in the near future, we will build the infrastructure for significant growth in the future.

I would like to thank the Weebit team, and especially our faithful shareholders, who continue to believe in Weebit and support us. The next year will be very exciting, and I look forward to writing a new summary at this time next year.