Updated Financial Guidance from 3DA putting profitability back to 2027 and reducing expected demand of C103. SP was up 4% today despite the news and still a long way off highs.

"The extended Continuing Resolution (CR) for the FY2025 congressional United States budget and the Department of Defense programs paused “new starts” and “re-starts” has contributed to a delay in revenue and new contracts. Additionally, various hypersonic programs have advanced more slowly through research, development, testing, and evaluation (RDT&E). An updated Fairmont Consulting study estimates demand for C103 powder at approximately 93 tonnes in FY2030 versus an earlier estimate on 8 February 2024 of approximately 105 tonnes in FY2028."

"The Company expects revenue growth to accelerate in the current quarter and a continuation of accelerated revenue growth into FY2026."