6K Additive (ASX: 6KA) grew rapidly in the first half of 2026 as demand for its metal powders increased, particularly from aerospace and defense customers. The newly public company also narrowed its losses and brought its gross margin close to break-even as it prepares for a major expansion of its Pennsylvania manufacturing operations.
For the six months ended June 30, 6K reported revenue of $13.3 million, up 73% from $7.7 million a year earlier. Its net loss narrowed to $6.8 million from $11.6 million. The company reported a gross loss of just $68,618, putting its gross margin close to break-even, compared with about negative 19% in the first half of 2025.
6Ks headquarters in Massachusetts. Image courtesy of 3DPrint.com/Vanesa Listek.
Metal Powders Drive Growth
6K Additive has two main businesses, Powder and Alloy. The Powder business makes metal powders for additive manufacturing and other advanced manufacturing applications. The Alloy business takes reclaimed materials and processes them into higher-grade metals used mainly in industries including aerospace and automotive.
Powder generated $9 million in H1, up 77% from $5.1 million a year earlier. Alloy revenue rose 66% to $4.2 million. That means roughly two-thirds of 6K’s first-half revenue came from Powder, which the company calls its main growth driver.
More than 90% of Powder sales came from repeat orders, and Powder backlog increased from $7 million in Q1 to $10.3 million in Q2. The company also reported growing use of its powders in serial production applications. That suggests at least some customers are moving beyond qualification and into recurring production demand.
That is important in metal AM, where materials can undergo lengthy qualification processes before customers begin buying them regularly. The repeat orders and growing use in serial production suggest that at least some 6K customers are moving beyond qualification and into recurring production demand.
“The key here is we are converting pipeline opportunity to actual orders,” said CEO Frank Roberts. “We are growing the backlog now over $10 million on the powder side of the business.”
Titanium, Nickel and Refractory Metals Grow
Several metals used in aerospace and defense AM saw strong growth in the second quarter. Titanium powder revenue rose 67% from the first quarter and nearly tripled from a year earlier, reaching $1.9 million. Nickel powder revenue rose to $1.5 million from $600,000 a year earlier. Demand for refractory metal powders, including tungsten, niobium, and tantalum alloys, jumped almost 500% from the first quarter as more customer programs moved forward.
These metals are important to the markets 6K serves. Titanium and nickel alloys are widely used in aerospace and defense AM, while refractory metals such as tungsten and niobium can handle the extreme heat found in propulsion and hypersonic systems.
6K produces these powders partly from recycled metal and scrap using its UniMelt process. This approach is also showing up in its customer agreements. Earlier this year, Siemens Energy signed a long-term agreement to send used nickel alloy powder from its AM operations to 6K for recycling into new powder.
6Ks UniMelt. Image courtesy of 3DPrint.com/Vanesa Listek.
Building Five Times More Powder Capacity
The company is expanding its Burgettstown, Pennsylvania, campus to meet growing demand. 6K plans to increase total production capacity from about 1,600 metric tons to more than 6,000 metric tons a year. Powder capacity is expected to grow fivefold, from about 200 to 1,000 metric tons a year.
Construction began in March. The expansion includes new buildings and equipment to produce titanium, nickel, stainless steel, and refractory metal powders. 6K said major construction contracts have been awarded and key equipment has been ordered. The expansion remains on schedule, with initial production expected by the end of 2026.
Spending will pick up in the second half of the year. 6K spent $1.4 million on the expansion in H1 and expects about $10 million in capital spending in H2 as construction and equipment payments increase.
The U.S. government is helping finance part of that growth. 6K’s expansion is supported by a $23.4 million Defense Production Act Title III grant. Management said in August that about $13.7 million of that support remained available.
Meanwhile, the Export-Import Bank of the United States (EXIM) approved a $27.4 million loan for the expansion. Unlike the DPA support, the EXIM financing is a loan, not a grant. At the end of June, 6K was still finalizing the loan documentation.
6K is also working directly with the Defense Logistics Agency on recovering strategic metals from military scrap. An award announced in April initially totaled $1.95 million and covered the conversion of end-of-life nickel, titanium, tungsten, and C-103 niobium alloy parts into higher-value metal powders. The work is aimed at reducing reliance on foreign sources of strategic metals.
Battery cell testing at 6K headquarters in Massachusetts. Image courtesy of 3DPrint.com/Vanesa Listek.
6K is growing, but it is still losing money and using cash. The company used $6.3 million in operating activities during H1, while cash fell from $29.5 million at the end of 2025 to $22.1 million in June. Management said its cash, remaining government support, and approved EXIM loan should be enough to fund the expansion without another capital raise.
The next step is turning that growth into profits. 6K is building five times more powder capacity, with initial production from the expansion expected by the end of 2026. The company is betting that demand from aerospace, defense, and other customers will continue to grow.
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