Adisyn (ASX:AI1) Ltd said in its quarterly report for the period to 30 September 2026 that it has deposited low-temperature graphene on a full 200 millimetre wafer, an area of about 314 square centimetres. The company said this is roughly 300 times larger than the 1 square centimetre coupons used previously, and it described the outcome as an early pathfinder result.

The wafer result

Adisyn develops graphene materials for semiconductor and advanced materials applications. The deposition took place at below 300 degrees Celsius. Independent testing, including Raman spectroscopy and transmission electron microscopy, with work involving the Hebrew University of Jerusalem, found graphene at all 12 locations sampled across the wafer. The company said the result has potential to scale to 300 millimetre wafers.

The company was clear that the result is early. It still needs to assess uniformity, defectivity, repeatability and initial reliability, followed by device integration testing and engagement with semiconductor industry partners. Commercial partnerships are prospective rather than confirmed, and the company listed licensing, joint development and process or materials supply as possible commercial models.

Intellectual property

The company's quarterly report presents the patent allowances as protection for its deposition technology, though an allowed application is a step in the process and the report does not describe any commercial arrangement built on these patents.

During the quarter, two US patent applications were allowed. Application 18/835,836, covering graphene-coated three-dimensional surfaces, was allowed on 31 July 2026, and application 18/574,061, covering graphene deposition on non-metallic surfaces, was allowed on 14 September 2026.

Financial position

Cash at 30 September 2026 was A$14.356 million. The company is debt free and has no financing facilities, and its Appendix 4C estimates 13.95 quarters of funding. Customer receipts for the quarter were A$1.755 million, and revenue was A$1.76 million, mainly from Adisyn Services, which provides managed IT and cybersecurity to Australian small and medium businesses and defence customers. Net operating cash outflow was A$1.029 million, investing outflow A$81,000 for plant and equipment and financing outflow A$12,000. Payments to related parties were A$253,000, covering director fees, salaries and superannuation.

The funding estimate of 13.95 quarters reflects a cash balance that is large relative to the quarterly operating outflow of about A$1 million. The company noted that it joined the All Ordinaries Index effective 21 September 2026.

Leadership changes

Kevin Crofton moved from non-executive to Executive Chairman during the quarter. After the quarter ended, on 20 October 2026, Ephraim Koltin was appointed Incoming CEO of the subsidiary 2D Generation Ltd. Arye Kohavi remains chief executive of that subsidiary until 30 November 2026 to support the handover. The company said its leadership transition and board renewal are continuing.

Risks and what comes next

The graphene work depends on follow-up data showing that the wafer-scale film is uniform, low in defects and reliable enough for devices, and the company has not yet confirmed any commercial partner. Much of the quarter's reported revenue came from the services business rather than from graphene, and the report does not identify revenue from graphene licensing or supply. The report contains the usual forward-looking statement cautions.

The company's stated next steps are to assess wafer uniformity, defectivity, repeatability and initial reliability, carry out device integration testing, engage semiconductor partners, and work towards larger wafer formats. It also expects leadership handover to proceed through 30 November 2026.