Weebit Nano Share Price Jumps 9% on Maiden Revenue Payment

November 06, 2023 04:58 PM AEDT | By Team Kalkine Media

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Weebit Nano Share Price Jumps 9% on Maiden Revenue Payment — Image source: freepik

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The Weebit Nano Ltd (ASX: WBT) share price is experiencing a substantial surge, having increased by 9%. The company, listed on the S&P/ASX 200 Index (ASX:XJO) and specializing in advanced memory technologies for the global semiconductor industry, announced its first-ever revenue milestone. This achievement is generating significant interest among investors in the technology sector, particularly those interested in ASX technology stocks.

Weebit Nano's Revenue Announcement

Weebit Nano reported the receipt of its inaugural IP licensing revenue payment, specifically for its embedded Resistive Random-Access Memory (ReRAM) technology. The company secured an initial licensing fee of US$100,000 (AU$152,000). Although the licensing fee is relatively modest, it marks Weebit Nano's transition to the commercialization phase, marking the end of its "pre-revenue" era.

Weebit Nano's revenue generation strategy is structured around three core elements:

Licensing fees for design and manufacture
Engineering fees for designs and processes
Royalties for use by customers, to be received when customers commence shipping end products

Weebit Nano's CEO, Coby Hanoch, celebrated this significant milestone and stated that Weebit Nano's ReRAM technology is well-positioned to replace existing flash technology due to its superior performance capabilities. Hanoch emphasized the company's accomplishments over the past year, including full qualification for industrial and automotive temperatures in the embedded market, where memory is integrated into "system-on-chip" (SoC) solutions.

The embedded emerging non-volatile memory market is projected to reach $2.7 billion by 2028, with ReRAM expected to represent more than a third of this market.

Hanoch also highlighted the progress in securing commercial agreements with leading foundries and Integrated Device Manufacturers worldwide to expand the availability of Weebit Nano's ReRAM technology.

Weebit Nano Share Price Snapshot

Over the past year, the Weebit Nano share price has demonstrated substantial fluctuations, with a higher frequency of positive movements. As a result, the ASX 200 tech stock has experienced a 43% increase in share price over the last 12 months, drawing the attention of investors in the technology sector.

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