Titomic Ltd. has announced a targeted corporate restructuring designed to reduce annual operating costs by AU$3 million while accelerating its path to cash flow break-even by 2027.
The advanced manufacturing group will streamline its workforce across sales, marketing, and production support roles in Australia, while rationalising non-program positions in the United States.
Additionally, the company will cut consultant expenditure across its operations in Australia, the US, and Europe.
As part of the operational realignment, Titomic’s Australian footprint will pivot to serve strictly as the company’s global research and development center of excellence, driving ongoing innovation for its proprietary Titomic Kinetic Fusion (TKF) cold spray technology.
Implementation of the restructure is expected to wrap up by the end of October, with execution costs estimated at AU$600,000 to cover redundancy, notice payments, and associated costs.
Titomic Executive Chair Dag Stromme affirmed that the restructuring reflects a disciplined approach to financial management without compromising long-term growth.
“These targeted changes demonstrate our commitment to disciplined cost management, with ~A$3 million in expected annualised savings as we accelerate our commercial development and position the Company to achieve cash flow break-even during 2027,” Stromme said.
“Australia remains central to Titomic’s future. Our Australian operations will remain as our global R&D centre of excellence, supporting the technology development that underpins our accelerating international commercial scaling.”
The company’s board believes the operational changes will ensure a leaner, more agile business structure while maintaining the capacity needed to scale its proprietary additive manufacturing technology across international commercial markets.