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Brainchip: Posts $6.85M half-yearly loss | Fintech InShorts: Latest fintech news, analysis by experts

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Brainchip: Posts $6.85M half-yearly loss

By Steve Sam

August 26, 2020

Six months of soft revenue and high spending has seen tech developer Brainchip (BRN) deepen a half-yearly loss
The company lost $6.85M from January to the end of June 2020, which is 53 per cent more than the loss from the same period in 2019
On top of this, half-yearly revenue slipped 80 per cent to just over $13,000
The company spent almost $3.5M on research and development over the half-year, which was more than half of total spending
The company is now in the testing phase for its flagship Akida system-on-a-chip product
Shares in Brainchip and trading just under five per cent lower this morning and worth 31 cents each

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