Highlights

  • 4DS Memory completed its Acquisition of edge-AI autonomy software developer Jenesys on 9 October 2026 after Shareholder approval.
  • Jenesys founder Jaspal Sarai became Managing Director and Chief Executive Officer when the acquisition reached completion.
  • The company held A$6.6 million cash at 30 September 2026, before a A$2.0 million Placement at A$0.01 per share.
  • The ReRAM programme now targets analogue in-memory computing, while discussions with HGST over technology rights continue.

4DS Memory Limited (ASX:4DS) has reshaped itself over the past two months, completing the acquisition of edge-AI software developer Jenesys on 9 October 2026 and redirecting its long-running resistive memory (ReRAM) programme towards analogue in-memory computing.

The transaction followed a suspension that began in April 2026 after the company proposed a material acquisition. Its shares were reinstated to Quotation on 31 August 2026, the same day the Jenesys deal was announced, and shareholders approved the acquisition at a general meeting on 2 October 2026.

Jenesys Adds Edge-AI Autonomy Software to the Memory Story

Jenesys develops software that lets fleets of autonomous systems coordinate and make decisions on the device without a central controller, including where GPS or communications are denied or disrupted. Management sees the combination of this software with the 4DS memory technology as a route into emerging defence and commercial markets.

Founder Jaspal Sarai took over as Managing Director and Chief Executive on completion, bringing more than 25 years of experience building technology businesses. He is engaged on an annual consulting fee of A$360,000 plus superannuation, with a A$50,000 sign-on Bonus payable on completion.

Placement Lands While Entitlement Offer Draws Limited Take-Up

Alongside the acquisition, 4DS raised A$2.0 million before costs through a placement of 200 million shares at A$0.01 each to professional and sophisticated investors. A separate A$3.0 million non-renounceable entitlement offer closed on 28 September 2026 with only A$155,689 taken up, and the board does not plan to place the shortfall.

Cash at 30 September 2026 stood at about A$6.6 million, excluding the placement funds. The company had no customer receipts in the Sep-2026 quarter and used A$384,000 in operating activities, including A$67,000 of Jenesys transaction costs. The board considers its funds sufficient for its strategy for up to 18 months.

ReRAM Programme Moves from Storage Memory to In-Memory Computing

For FY26 to 30 June 2026, 4DS reported Revenue of A$339,555 and a loss after tax of A$1.59 million, sharply narrower than the A$9.68 million loss in FY25 after development was paused and the imec collaboration ended following a strategic review.

The ReRAM work, based on the company's PCMO cell and supported by 34 US patents, now centres on analogue in-memory computing after Western Digital exited its storage class memory position in SanDisk. Discussions with HGST about rights to 4DS technology are continuing.

December Quarter Plans and a Contested AGM

For the December 2026 quarter, the company plans to package its robot fleet integration for repeat deployment, obtain Defence export control advice, progress membership of the Defence Industry Security Program and finalise its in-memory computing roadmap and partner. It is also finalising an engagement with an Indian entity. Management has stressed these plans are not forecasts, and no binding customer agreements had been signed.

The Annual General Meeting in Melbourne on 26 November 2026 will consider a spill resolution and the election of two shareholder-nominated directors, all of which the board opposes, along with ratification of the placement shares.

Shares were priced at A$0.007 on 2 November 2026, up 16.67% on the day, with a Market Capitalisation of A$19.44 million. The stock was down 30% over 12 months.