Key Highlights

  • dorsaVi reported closing cash of about A$1.12 million at 30 September 2026, down from A$2.12 million at 30 June.
  • A A$3.0 million Placement of 136,363,636 shares at A$0.022 each was announced on 6 October 2026.
  • Sensor v6.5 was commercially launched on 28 July 2026 and the RRAM validation chip remains in staged fabrication at TSMC.

dorsaVi (ASX:DVL) released its quarterly activities and Appendix 4C reports for the three months to 30 September 2026. The company reported closing cash of about A$1.12 million, down from A$2.12 million at 30 June, and said it expected to rely on a A$3.0 million placement announced on 6 October 2026 to fund operations.

Net operating cash outflow was A$996,000, with customer receipts of A$320,000, compared with A$185,000 in the first quarter of the previous year. The largest outgoings were administration and corporate costs of A$667,000, staff costs of A$381,000 and Research and Development of A$242,000. Investing and financing cash flows were nil, and the company has no Loan or Credit facilities.

The reported runway under Appendix 4C was 1.13 quarters. The company said that figure excludes both the placement and an A$475,000 research and development tax incentive rebate for the 2026 financial year, which it said was received after quarter end. It also said it expects expenditure to fall once the validation chip has been taped out.

The placement comprises 136,363,636 shares at A$0.022 each for gross proceeds of A$3.0 million before costs. Investors receive one free-attaching unlisted option for every two shares, 68,181,818 in total, exercisable at A$0.045 and expiring three years from issue. The lead manager is paid 6 per cent of gross proceeds and receives 24,000,000 unlisted options on the same terms. Settlement was expected on or around 19 October 2026 and was subject to settlement; the reports do not confirm completion.

The company listed its intended uses of funds as expanding its movement data library and bespoke capture for humanoid robotics developers, advancing neuromorphic and resistive memory programs with Singapore's NTU and Taiwan's ITRI, exploring physical AI uses, partner evaluations, Working Capital and offer costs.

Sensor launch and chip progress

The company commercially launched Sensor v6.5 on 28 July 2026. It said the wearable analyses movement quality, including patterns associated with injury risk, and delivers configurable haptic, audible or visual feedback within milliseconds without a cloud connection or separate base device. The company said the underlying sensor platform has FDA clearance and TGA certification. It stated that resistive memory and neuromorphic technology are not integrated into v6.5, which runs on conventional silicon.

For its resistive memory (RRAM) validation chip, the Manufacturing data package passed foundry intake on 12 August and front-end transistor and middle-of-line interconnect fabrication at TSMC was completed on 24 August 2026. Still to be done are forming the via structure, depositing the memory material stack, fabricating metal interconnects and wafer-level electrical testing. An early energy characterisation began on 14 September. The company reported no completed performance results and said energy per state update is only one device-level metric.

Robotics outreach and caveats

On 21 September the company began outreach to robotics companies about applying its decade of movement recordings and bespoke motion capture to balance, coordination and recovery in humanoid robots. It described this as exploratory: internal review of recordings is under way, adapting human data to robots requires work for each design, and no integrated robotic system has been demonstrated.

The Appendix 4C refers to a "successful" tape-out in the quarter, while the activities report describes the chip as in staged fabrication.

Next steps

The stated next activities for dorsaVi (ASX:DVL) are progressing the integration sequence through to wafer-level electrical testing, completing initial energy measurements, continuing robotics developer discussions and defining candidate balance and coordination workloads. No dates were given for these steps beyond the settlement date above.